Improving Contract Procurement for Small Businesses through More Accurate Reporting Act of 2016

Improving Contract Procurement for Small Businesses through More Accurate Reporting Act of 2016 This bill amends the Small Business Act to require the Small Business Administration to report to the President and Congress an analysis of the number and dollar amount of prime contracts awarded by federal agencies each fiscal year to small business concerns, including those: owned and controlled by service-disabled veterans; located in qualified HUBZones; owned and controlled by socially and economically disadvantaged individuals; owned by an Indian tribe, an Alaska Native Corporation, or a Native Hawaiian Organization; or owned and controlled by women. The analyses shall cover all such small business concerns: that were purchased by another entity after the initial contract was awarded and as a result would no longer be deemed to be small business concerns for purposes of the initial contract, and that were awarded using a procurement method that restricted competition to the kinds of small business concerns listed here or a subset of any of them.