A bill to amend the Small Business Act to require the utilization of small business as a condition of receiving certain amounts of Federal financial assistance for the procurement of articles, equipment, supplies, services, materials, or construction work.

Amends the Small Business Act to prohibit any agency or department of the United States from providing financial assistance for any applicant if any funds obtained pursuant to such assistance are used for the procurement of articles, equipment, supplies or construction work unless such applicant agrees as a condition of receiving such assistance: (1) to utilize small business concerns to the maximum extent practicable, and (2) if any subcontracts are to be allowed, to incorporate into any contract for such procurement the small business subcontracting program.

Specifies contracts which shall be exempt from this Act.