SBA IT Modernization Reform Act of 2024

The SBA IT Modernization Reform Act of 2024 requires the Small Business Administration (SBA) to implement specific recommendations from a 2025 GAO report about its IT systems. It mandates the SBA Administrator to establish clear risk management procedures for all IT projects, including documenting risk sources, defining parameters, developing mitigation strategies, and involving security experts in contractor selection. The SBA must submit a detailed implementation plan to Congress within 180 days of enactment, outlining how it will follow GAO guidelines for project scheduling and cost estimation. This bill directly affects SBA's IT modernization efforts, aiming to reduce risks in new systems through standardized, documented processes.