Amends the Small Business Act to authorize the President to designate, within 60 days of the enactment of this Act, the agency (other than the Department of Defense) with which a Government procurement contract shall be made by the Small Business Administration (SBA) under the provisions pursuant to which contracts are performed through subcontracts with socially and economically disadvantaged small businesses. Prohibits the SBA from entering into such a contract prior to October 1, 1983, or after September 30, 1985.
Provides that the Administrator's authority to waive any bond that may be required for a small business concern to receive a subcontract under this Act may not be exercised prior to October 1, 1983, or after September 30, 1985.