Encouraging Success Act

3/18/2024, 10:19 PM

Encouraging Success Act

This bill requires the Small Business Administration to periodically revise, based on economic changes, the maximum total assets and net worth an individual may have to qualify as an economically disadvantaged individual under the 8(a) Business Development program.

Congress
118
Number
HR - 6591
Introduced on
2023-12-05
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/29/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

Encouraging Success Act

This bill requires the Small Business Administration to periodically revise, based on economic changes, the maximum total assets and net worth an individual may have to qualify as an economically disadvantaged individual under the 8(a) Business Development program.

Alternative Names
Official Title as IntroducedTo 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.
Policy Areas
Commerce
Potential Impact
Business investment and capital•
Economic performance and conditions•
Small business

Comments

Recent Activity

Latest Summary3/8/2024

Encouraging Success Act

This bill requires the Small Business Administration to periodically revise, based on economic changes, the maximum total assets and net worth an individual may have to qualify as an economically disadvantage...

Latest Action2/29/2024
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.