Ensuring Efficiency and Fairness in Federal Subcontracting Act of 2024

This bill requires prime contractors on federal contracts to notify subcontractors about contract status within 30 days of a request, with a process for subcontractors to report failures to respond. It sets small business utilization targets (50% minimum for incentive fees, 75% for specific contract stages) and allows agencies to withhold performance-based incentives if targets aren't met. The bill also mandates new outreach to veteran-owned, HUBZone, disadvantaged, and women-owned small businesses and directs updates to the electronic subcontracting reporting system. These provisions directly affect prime contractors, subcontractors, and small businesses seeking federal subcontracting opportunities.