Federal diversity programs now explicitly include LGBTQI+ entrepreneurs
H.R. 9309 — PRIDE Act of 2026 · Filed by Nikema Williams (D-GA) · 16 cosponsors · Introduced Jun 11, 2026 · Referred to committee
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What it does
This bill amends the Dodd-Frank Act and the Housing and Community Development Act to expand existing federal offices that promote minority and women inclusion in banking and housing to also explicitly include LGBTQI+ individuals and LGBTQI+-owned businesses. It defines LGBTQI+ terms, adds LGBTQI+ individuals to procurement and contracting preferences, and updates related federal housing finance rules. The bill benefits LGBTQI+ entrepreneurs and workers by giving them equal standing in federal diversity and inclusion programs that already exist for minorities and women.
Why we flagged it
The bill's sole functional purpose is to extend existing federal diversity programs (minority and women inclusion offices) to encompass LGBTQI+ individuals. It is a straightforward amendment to two existing statutes with no hidden mechanisms or unrelated provisions.
What the text implies
- Expands federal contracting and lending preferences to LGBTQI+-owned businesses, which may increase competition for set-aside contracts previously limited to minority and women-owned enterprises.
- Creates a federal definition of LGBTQI+-owned business (>50% ownership and profit accrual) that will be used across multiple agencies and programs, establishing a consistent standard for eligibility.
The full analysis lists 3 implications of this text.
Who stands to gain
LGBTQI+-owned small businesses; LGBTQI+ entrepreneurs seeking federal contracting and lending programs; Banks and lenders offering SBA loans and community development financing