H.R.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)
Summary
H.R.3195 aims to amend the Small Business Act to include surviving children of service-disabled veterans in the definition of a small business concern owned and controlled by service-disabled veterans. This inclusion would allow these businesses to maintain their status and eligibility for certain benefits for a limited time after the veteran's death.
The bill specifies conditions under which the surviving child's ownership qualifies, including a time limit of three years or until the child relinquishes ownership. It also defines 'surviving child' as a biological or legally adopted child of a service-disabled veteran.
Expected Effects
The primary effect of this bill would be to provide a transition period for businesses owned by service-disabled veterans to remain eligible for small business benefits after the veteran's death, provided the ownership is transferred to their surviving child. This could help prevent business closures and job losses during a difficult time for the family.
It would also provide an opportunity for the surviving child to learn and potentially continue running the business, preserving the veteran's legacy.
Potential Benefits
- Provides continuity for small businesses owned by service-disabled veterans after their death.
- Supports the families of service-disabled veterans by allowing them to maintain ownership and control of the business.
- Prevents potential job losses that could occur if the business lost its small business status.
- Offers surviving children the opportunity to learn and manage the business.
- Honors the service and sacrifice of veterans by supporting their families.
Potential Disadvantages
- May create administrative complexities in determining eligibility and monitoring compliance.
- Could potentially be exploited if the surviving child is not genuinely involved in the business.
- Limited scope, only affecting a specific subset of small businesses.
- The three-year limit might not be sufficient for all businesses to transition effectively.
- May create a perception of unfairness among other small business owners who do not have the same benefits.
Constitutional Alignment
This bill appears to align with the general welfare clause of the Constitution, as it aims to support the families of service-disabled veterans. While there is no specific constitutional provision directly addressing small business ownership, Congress has broad authority to enact laws that promote economic opportunity and support specific groups, such as veterans. The bill does not appear to infringe upon any specific constitutional rights or liberties.
It falls under the powers granted to Congress in Article I, Section 8, which includes the power to make laws necessary and proper for carrying into execution the powers vested by the Constitution in the government of the United States.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).