SBA IT Modernization Reporting Act

This Act may be cited as the SBA IT Modernization Reporting Act.
In this Act, the terms Administration and Administrator mean the Small Business Administration and the Administrator thereof, respectively.
The Administrator, acting through the Chief Information Officer of the Administration, shall take such actions as may be necessary to implement the recommendations contained in the report of the Comptroller General of the United States titled IT MODERNIZATION: SBA Urgently Needs to Address Risks on Newly Deployed System (GAO–25–106963; published November 6, 2024).
Not later than 180 days after the date of enactment of this Act, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives an implementation plan detailing the actions the Administration will undertake to establish and implement policies and procedures to govern information technology modernization projects of the Administration, which policies and procedures shall, with respect to each project—
for each risk identified, explicitly state the source of such risk in the relevant risk documentation;
clearly define risk parameters;
establish and maintain risk management strategies;
identify and document risks for all phases of the life cycle;
evaluate, categorize, and prioritize risks based on defined risk parameters and develop project risk management plans;
connect measures to mitigate risk to risk mitigation plans;
require that any information technology acquisition plan and any strategic plan contains information needed to manage cyber risks;
require that a traceability analysis is performed and documented;
require that security-related subject matter experts are involved in selection process for contractors for a project;
develop master schedules using the guidelines contained in the publication of the Comptroller General of the United States titled GAO Schedule Assessment Guide: Best Practices for Project Schedules (GAO–16–89G; published December 22, 2015); and
develop cost estimates using the guidelines contained in the publication of the Comptroller General of the United States titled Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Program Costs (GAO–20–195G; published March 12, 2020).
The implementation plan required under this section shall include the actions required to carry out the requirements listed in paragraphs (1) through (11) of subsection (b), an identification of the office of the Administration responsible for implementation, and the timelines for completion of each action.
Not later than 30 days after the submission of the implementation plan required under this section, the Administrator shall provide to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a briefing on the plan.