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

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118th CONGRESS
  2d Session
                                H. R. 6591

_______________________________________________________________________

                                 AN ACT


 
    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 1 year after the date of the enactment of 
this subparagraph, and not less frequently than every 4 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.

            Passed the House of Representatives February 28, 2024.

            Attest:

                                                                 Clerk.
118th CONGRESS

  2d Session

                               H. R. 6591

_______________________________________________________________________

                                 AN ACT

    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.