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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9930 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 9930

 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

                            October 4, 2024

    Mr. Moore of Alabama (for himself, Ms. Sewell, and Mr. Ellzey) 
 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.''.
                                 <all>
```