This bill creates a new federal grant program to help small businesses owned by people from disadvantaged backgrounds compete for transportation projects funded by the Department of Transportation. Right now, these business owners often struggle to win contracts and subcontracts because they may lack resources, experience, or connections in the industry.

The program works by giving grants to states, local governments, tribal nations, ports, and other transportation organizations so they can run training and support programs for disadvantaged-owned businesses. These organizations can partner with nonprofits and colleges to offer things like business training, mentoring, technical assistance, or other help that prepares these small businesses to bid on and win transportation contracts on equal footing with larger, more established companies.

The eligible organizations that receive grants have flexibility in how they use the money—they just need to design programs that actually help disadvantaged business owners become competitive. After two years, they have to report back to the Transportation Department about what they did and whether it worked. The bill sets aside $5 million per year for three years (2024-2026) to fund these grants, and the Transportation Department will evaluate the overall program's success after three years to see if it should continue.