To amend the Small Business Act to include surviving children in the definition of small business concern owned and controlled by service-disabled veterans, and for other purposes.
HR 9930 amends the Small Business Act to allow surviving children of service-disabled veterans to maintain a business's eligibility as a veteran-owned concern after the veteran owner's death. The bill directly affects small businesses owned by service-disabled veterans where a surviving child (biological or legally adopted) inherits the veteran's ownership stake. Key provisions create a 3-year transition period starting when the veteran dies, during which the business retains eligibility if the child acquires ownership and the business was previously included in the veteran-owned business database. This change ensures continuity for businesses that would otherwise lose veteran-owned status upon the owner's death, without altering the 51% ownership requirement during the transition.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2024
Committee Review
Floor Vote
President
Introduced Oct 4, 2024
Last action Oct 4, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Oct 4, 2024
Committee
Referred to the House Committee on Small Business.
lower
Oct 4, 2024
Introduced
Introduced in House
lower
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Barry Moore
RRepublican
Co
Jake Ellzey
RRepublican
Co
Terri A. Sewell
DDemocratic
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