Further, SBA has amended the definition for the term ``small business concern'' by simply referencing its size regulations at 13 CFR 121.701-705. Those size regulations define the ownership and size requirements for the SBIR and STTR Programs. SBA has recently issued a rule proposing to amend those regulations and the definition of ``small business concern'' for purposes of the SBIR and STTR Programs as a result of certain provisions of the Reauthorization Act (see 77 FR 30227 (May 22, 2012)). SBA believes the proposed rule will not become final until late 2012. In order to ensure that any changes made to the definition of ``small business concern,'' which become effective in the regulation in late 2012, are incorporated into the Policy Directive, it is best to simply reference the regulation in the Policy Directive at this time. When SBA issues the final regulations defining ``small business concern,'' SBA intends to amend the Policy Directive to explicitly incorporate the new definition rather than only reference the regulation.