; (2) for fiscal year 2021, 12 percent; (3) for fiscal year 2022, 19 percent; (4) for fiscal year 2023, 26 percent; and (5) for fiscal year 2024 and each fiscal year thereafter, 33 percent. (c) Report Not less frequently than once each fiscal year, the Administrator of the Small Business Administration, in consultation with the heads of the relevant Federal agencies, shall submit to Congress a report on the implementation of subsection (a). 123. Requiring meaningful participation from targeted businesses (a) In general Except to the extent that the head of the relevant Federal agency determines otherwise, not less than the percentage described in subsection (b) for the applicable fiscal year of the amounts made available for a covered infrastructure program shall be expended through businesses owned and controlled by— (1) socially or economically disadvantaged individuals; (2) women; (3) veterans; (4) LGBTQ individuals; (5) disabled individuals; or (6) ex-offenders. (b) Percentage described The percentage referred to in subsection (a) is— (1) for fiscal year 2020, 6 percent; (2) for fiscal year 2021, 12 percent; (3) for fiscal year 2022, 18 percent; (4) for fiscal year 2023, 24 percent