I 111th CONGRESS 1st Session H. R. 4253 IN THE HOUSE OF REPRESENTATIVES December 9, 2009 Mr. Butterfield introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to change the net worth amount under the small business program for socially and economically disadvantaged individuals from $750,000 to $978,722, and for other purposes.

1.

Dollar limit for determining economically disadvantaged individuals under Small Business Act

(a)

Amendment of section 8(a)

Subparagraph (A) of section 8(a)(6) of the Small Business Act (15 U.S.C.637(a)(6)(A)) is amended by adding the following at the end thereof: In taking into account the net worth of a socially disadvantaged individual under this subparagraph for purposes of determining if such individual is economically disadvantaged, the Administrator shall consider a net worth of less than $978,722 as indicating that the individual is economically disadvantaged. For each calendar year after calendar year 2009, the Administrator shall adjust such $978,722 amount for inflation using the Bureau of Labor Statistics inflation calculator. . (b)

Federal contract compliance

Subparagraph (C) of section 8(d)(3) of the Small Business Act (15 U.S.C.637(d)(3)(C)) is amended by adding the following at the end thereof: The contractor shall presume that a social disadvantage individual is economically disadvantaged if such individual’s net worth, as determined in accordance with this section is less than $978,722, adjusted for inflation as provided in subparagraph (A) of subsection (a)(6). .