99 -- Small Business Size Standards and NAICS 2002
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The U.S. Small Business Administration (SBA) intends to update its Small Business Size Standards by incorporating the Office of Management and Budget's 2002 revisions to the North American Industry Classification System (NAICS) into its size standards table. These revisions affect industries in six of the twenty NAICS sectors and result in minor changes to certain size standards. On August 13, 2002, SBA published both a direct final rule and a proposed rule in the Federal Register to implement these changes. The agency considers the updates noncontroversial and anticipates no adverse comments. If no negative feedback is received by September 12, 2002, the direct final rule will take effect on October 1, 2002. Otherwise, the SBA plans to withdraw the direct final rule and address all comments in a subsequent rulemaking. The Federal Register notices originally contained formatting errors related to the omission of dollar signs in monetary-based size standards, but these errors do not impact the actual size standards. Corrections will be issued and made available on the SBA website. Interested parties were invited to review the proposed and direct final rules online and submit comments by the specified deadline to ensure their views are considered in the final decision. The contract reference relates to the amendment effort focused on maintaining the accuracy and relevance of small business classification criteria as per the new NAICS guidelines.
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