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Bill

HR 3195

To amend the Small Business Act to include surviving children in the definition of small business concern owned and controlled by service-disabled veterans, and for other purposes.

119th Congress Introduced by Jake Ellzey and 4 co-sponsors

HR 3195 allows surviving children of service-disabled veterans to inherit ownership of their parents' small businesses, ensuring continuity and support for veteran families.

Introduced in House
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WeVote Research Nonpartisan
Bill Summary · HR 3195

Summary of HR 3195: Amendment to the Small Business Act

Purpose and Intent

HR 3195 aims to amend the Small Business Act to expand the definition of a small business concern owned and controlled by service-disabled veterans. Specifically, the bill seeks to include surviving children of service-disabled veterans in this definition, allowing them to inherit ownership interests in small businesses previously owned by their deceased parents.

Key Provisions

The bill introduces several important changes to the Small Business Act:

  1. Definition Expansion:

    • The bill adds a new subparagraph to Section 3(q) of the Small Business Act, which allows a small business concern to maintain its status as a veteran-owned business under specific conditions after the death of the service-disabled veteran owner.

  2. Ownership Transition:

    • If a service-disabled veteran who owns a small business passes away, and this results in the business being less than 51% owned by service-disabled veterans, the business can still qualify if:
      • A surviving child of the deceased veteran acquires the veteran’s ownership interest.
      • The business was included in the relevant database prior to the veteran's death.

  3. Timeframe for Ownership:

    • The surviving child must acquire the ownership interest within a specified timeframe:
      • This period begins on the date of the veteran’s death and ends on the earlier of:
      • The date the surviving child relinquishes their ownership interest.
      • Three years after the date of the veteran’s death.

  4. Definition of Surviving Child:

    • The bill defines "surviving child" as a biological or legally adopted child of a service-disabled veteran.

Affected Parties

  • Surviving Children: The primary beneficiaries of this bill will be the biological or legally adopted children of service-disabled veterans, who will have the opportunity to inherit and maintain ownership of their parents' businesses.
  • Small Business Community: This amendment could potentially stabilize and support small businesses owned by service-disabled veterans, ensuring continuity of ownership and operations.

Procedural Aspects

  • Introduced Date: The bill was introduced in the House on May 5, 2025.
  • Committee Referral: Following its introduction, HR 3195 was referred to the House Committee on Small Business for further consideration.

Conclusion

HR 3195 seeks to provide a meaningful change to the Small Business Act by allowing surviving children of service-disabled veterans to inherit ownership of small businesses, thereby promoting the legacy and continuity of these enterprises. This bill reflects a commitment to supporting veteran families and ensuring that the contributions of service-disabled veterans are honored and sustained through their businesses.

Compiled from official sources — confirm details with the bill’s official record.

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