REPORTS BY PROGRAM PARTICIPANTS.

SEC. 404. REPORTS BY PROGRAM PARTICIPANTS. Section 8(a) of the Small Business Act (15 U.S.C. 637(a)) is further amended by adding at the end thereof the following new paragraph: “(20) (A) Small business concerns participating in the Program under section 7(j)(10) and eligible to receive contracts pursuant to this section shall semiannually report to their assigned business opportunity specialist the following: 102 STAT. 3875 “(i) A listing of any agents, representatives, attorneys, accountants, consultants, and other parties (other than employees) receiving compensation to assist in obtaining a Federal contract for such Program Participant. “(ii) The amount of compensation received by any person listed under clause (i) during the relevant reporting period and a description of the activities performed in return for such compensation. “(B) The Business Opportunity Specialist shall promptly review and forward such report to the Associate Administrator for Minority Small Business and Capital Ownership Development. Any report that raises a suspicion of improper activity shall be reported immediately to the Inspector General of the Administration. “(C) The failure to submit a report pursuant to the requirements of this subsection and applicable regulations shall be considered ‘good cause’ for the initiation of a termination proceeding pursuant to section 7(j)(10)(F).”.