Union Calendar No. 310
118th CONGRESS 2d Session |
[Report No. 118–379]
To amend section 8(a) of the Small Business Act to require the Administrator of the Small Business Administration to regularly reassess the asset and net worth thresholds for qualifying as an economically disadvantaged individual, and for other purposes.
December 5, 2023
Mr. Ellzey introduced the following bill; which was referred to the Committee on Small Business
February 9, 2024
Additional sponsors: Mr. Moran and Mr. Thanedar
February 9, 2024
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on December 5, 2023]
To amend section 8(a) of the Small Business Act to require the Administrator of the Small Business Administration to regularly reassess the asset and net worth thresholds for qualifying as an economically disadvantaged individual, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SEC. 2. Regular reassessment of the thresholds for economically disadvantaged individuals.
(a) In general.—Section 8(a)(6) of the Small Business Act (15 U.S.C. 637(a)(6)) is amended by adding at the end the following new subparagraph:
“(F) (i) Not later than one year after the date of the enactment of this subparagraph, and not less frequently than every four years thereafter, the Administrator shall assess and, if appropriate, revise the maximum value of asset and the maximum net worth an individual may have to qualify as an economically disadvantaged individual under subparagraph (A) to account for changes in the economy, including inflation and other factors as determined appropriate by the Administrator.
“(ii) The Administrator shall make each covered revision by issuing a rule after an opportunity for public notice and comment.
“(iii) To the extent practicable, the Administrator shall coordinate the activities carried out under clause (i) with the activities required under section 1344(a)(2) of the Small Business Jobs Act of 2010 (15 U.S.C. 632 note).
Union Calendar No. 310 | |||||
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[Report No. 118–379] | |||||
A BILL | |||||
To amend section 8(a) of the Small Business Act to require the Administrator of the Small Business Administration to regularly reassess the asset and net worth thresholds for qualifying as an economically disadvantaged individual, and for other purposes. | |||||
February 9, 2024 | |||||
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed |