119-hr3195

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3195 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 3195

 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.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 May 5, 2025

 Mr. Moore of Alabama (for himself, Mr. Ellzey, and Ms. Sewell) 
 introduced the following bill; which was referred to the Committee on 
 Small Business

_______________________________________________________________________

 A BILL

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INCLUSION OF SURVIVING CHILDREN IN SMALL BUSINESS CONCERN 
 OWNED AND CONTROLLED BY SERVICE-DISABLED VETERANS 
 DEFINITION.

 

Section 3

    (q) of the Small Business Act (15 U.S.C. 632

    (q) ) is 
amended--

    (1) in paragraph

    (2) , by adding at the end the following 
 new subparagraph:
 ``
            (D) 
            (i) During the time period described in clause
            (ii) , a small business concern that was a small 
 business concern described in subparagraph
        (A) or
        (B) immediately prior to the death of a service-disabled 
 veteran who was the owner of the concern, the death of 
 whom causes the concern to be less than 51 percent 
 owned by one or more service-disabled veterans, if--
 ``
            (I) a surviving child of the deceased 
 veteran acquires such veteran's ownership 
 interest in such concern; and
 ``
            (II) immediately prior to the death of 
 such veteran and during the period described in 
 clause
            (ii) , the small business concern is 
 included in the database described in 

section 36.
 ``
            (ii) The time period described in this clause is 
 the time period beginning on the date of the veteran's 
 death and ending on the earlier of--
 ``
            (I) the date on which the surviving child 
 relinquishes an ownership interest in the small 
 business concern; or
 ``
            (II) the date that is 3 years after the 
 date of the veteran's death.''; and

    (2) by adding at the end the following new paragraph:
 ``

    (8) Surviving child.--The term `surviving child' means a 
 biological or legally adopted child of a service-disabled 
 veteran.''.
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