Encouraging Success Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6591 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 6591

    To 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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 5, 2023

  Mr. Ellzey introduced the following bill; which was referred to the 
                      Committee on Small Business

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                                 A BILL


 
    To 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.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Encouraging Success Act''.

SEC. 2. REGULAR REASSESSMENT OF THE THRESHOLDS FOR ECONOMICALLY 
              DISADVANTAGED INDIVIDUALS.

    (a) In General.--Section 8(a)(6) of the Small Business Act (15 
U.S.C. 637(a)(6)) is amended by adding at the end the following new 
subparagraph:
            ``(F)(i) Not later than one year after the date of the 
        enactment of this subparagraph, and not less frequently than 
        every four years thereafter, the Administrator shall assess 
        and, if appropriate, revise the maximum value of asset and the 
        maximum net worth an individual may have to qualify as an 
        economically disadvantaged individual under subparagraph (A) to 
        account for changes in the economy, including inflation and 
        other factors as determined appropriate by the Administrator.
            ``(ii) The Administrator shall make each covered revision 
        by issuing a rule after an opportunity for public notice and 
        comment.
            ``(iii) To the extent practicable, the Administrator shall 
        coordinate the activities carried out under clause (i) with the 
        activities required under section 1344(a)(2) of the Small 
        Business Jobs Act of 2010 (15 U.S.C. 632 note).
            ``(iv) In this subparagraph, the term `covered revision' 
        means a revision described in clause (i) that the Administrator 
        determines is appropriate pursuant to an assessment under such 
        clause.''.
    (b) Compliance With CUTGO.--No additional amounts are authorized to 
be appropriated to carry out this Act or the amendments made by this 
Act. Such Act and the amendments made by this Act shall be carried out 
using amounts otherwise appropriated to the Administrator of the Small 
Business Administration.
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