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US HB3195
Bill
Status
5/5/2025
Primary Sponsor
Barry Moore
Click for details
AI Summary
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Amends Section 3(q) of the Small Business Act to allow surviving children of deceased service-disabled veterans to inherit and maintain the veteran-owned small business status for federal contracting purposes
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Permits businesses previously owned by service-disabled veterans to retain their certified status when a surviving child acquires the ownership interest, even if the business falls below 51% veteran ownership
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Limits the eligibility period to 3 years from the veteran's death, or until the surviving child relinquishes their ownership interest, whichever occurs first
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Requires the business to be listed in the SBA's certification database (Section 36) both before the veteran's death and during the eligibility period
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Defines "surviving child" as a biological or legally adopted child of a service-disabled veteran
Legislative Description
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.
Commerce
Last Action
Referred to the House Committee on Small Business.
5/5/2025