INCREASED PARTICIPATION OF MINORITIES AND WOMEN IN CONTRACTING PROCESS.

SEC. 401. INCREASED PARTICIPATION OF MINORITIES AND WOMEN IN CONTRACTING PROCESS. Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is amended by inserting after subsection (s) (as added by section 227 of this Act) the following new subsection: “(t) Review and Evaluation Procedure for Contracts.— “(1) In general.— In the review and evaluation of proposals, the Corporation shall provide additional incentives to minority-or women-owned businesses by awarding any such business an additional 10 percent of the total technical points and an additional 5 percent of the total cost preference points achievable in105 STAT. 1774 the technical and cost rating process applicable with respect to such proposals. “(2) Certain joint ventures included.— Paragraph (1) shall apply to any proposal submitted by a joint venture in which a minority- or woman-owned business has participation of not less than 25 percent. “(3) Authority to adjust technical and cost preference points.— The Corporation may adjust the technical and cost preference points applicable in evaluating proposals to the extent necessary to ensure the maximum participation level possible for minority- or women-owned businesses. “(4) Definitions.— For purposes of this subsection.— “(A) Minority-owned business.— The term ‘minority-owned business’ means a business— “(i) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and “(ii) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals. “(B) Women-owned business.— The term ‘women’s business’ means a business— “(i) more than 50 percent of the ownership or control of which is held by 1 or more women; “(ii) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and “(iii) a significant percentage of senior management positions of which are held by women.”.