; or (II) is not less than 51 percent owned and controlled by 1 or more equity investment or venture capital firms owned by 1 or more socially disadvantaged individuals or by an entity described in subclause (II) or (III) of subparagraph (A)(ii); ; and (2) in subsection (m)(1), by striking subparagraph (B) and inserting the following: (B) Small business concern owned and controlled by women (i) In general The term small business concern owned and controlled by women — (I) has the meaning given the term in section 3(n); and (II) includes a small business concern described in subclause (I) for which less than 51 percent is unconditionally owned by 1 or more women because the small business concern— (aa) is not more than 50 percent owned and controlled by 1 or more equity investment or venture capital firms; or (bb) is not less than 51 percent owned and controlled by 1 or more equity investment or venture capital firms owned by women. (ii) Ownership For purposes of clause (i), ownership shall be determined without regard to any community property law. . (b) Regulations Not later than 1 year after the date of enactment of this Act, the Administrator of the Small Business Administration shall promulgate regulations to amend parts 124 and 127 of chapter I of title 13, Code of Federal Regulations, to carry out the amendments made by subsection (a).