To require the Administrator of the Small Business Administration to establish a program to encourage small business concerns to make business succession plans, and for other purposes.
Sponsor
Full profile: /officials/C001121
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2026-05-29
Source: Congress.gov
Committee Activity
Currently in
- House Committee on Small BusinessReferred To · 2026-05-29
- House Committee on Ways and MeansReferred To · 2026-05-29
Plain-English Summary
The Small Business Administration would be required to create a program encouraging small business owners to develop succession plans—detailed strategies for transferring their businesses to the next generation or new owners when they retire or leave. This would help ensure that family-owned shops, farms, and other small enterprises can continue operating smoothly after current owners step down, protecting jobs and local economies. The program would likely include guidance, resources, or incentives to help business owners prepare for this transition.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
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