H.R. 6591 — what changed
Encouraging Success Act
From Introduced in House to Reported in House. 1 section amended between Introduced in House and Reported in House.
Sec. 2 Regular reassessment of the thresholds for economically disadvantaged individuals
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.”
changed
Compliance with CUTGO—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.Act.