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Small Business Aid Criteria Update: Regular Asset Threshold Reassessment.

This Act mandates the Small Business Administration Administrator to regularly review and adjust asset thresholds for economically disadvantaged individuals. This ensures that eligibility criteria for small business support programs remain current, accounting for economic changes like inflation, potentially affecting who qualifies for aid.
Key points
The Small Business Administration Administrator must reassess and revise asset and net worth thresholds for economically disadvantaged individuals at least every four years.
These revisions will consider inflation and other economic factors, potentially impacting eligibility for small business support programs.
Any changes will be made after public notice and comment, allowing citizens to provide input.
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Additional Information
Print number: 118_HR_6591
Sponsor: Rep. Ellzey, Jake [R-TX-6]
Process start date: 2023-12-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Encouraging Success Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6591.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-12-05.

What are the main provisions?

Key points include:

  • The Small Business Administration Administrator must reassess and revise asset and net worth thresholds for economically disadvantaged individuals at least every four years.
  • These revisions will consider inflation and other economic factors, potentially impacting eligibility for small business support programs.
  • Any changes will be made after public notice and comment, allowing citizens to provide input.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Ellzey, Jake [R-TX-6].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H725)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Benefits