A Democratic bill with 1 Republican cosponsor · See the cosponsor
Last activity — 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.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Small Business Succession Planning Act requires the Administrator of the Small Business Administration to create a program to help small businesses develop succession plans. This program includes the creation of a toolkit, training for resource partners, and the provision of counseling to small businesses. The Administrator must also submit a plan to increase the number of small businesses with these plans, specifically targeting those owned by socially and economically disadvantaged individuals. Additionally, the bill introduces a tax credit for small businesses that establish and successfully complete a succession plan. The Act also includes provisions for the recapture of these credits under certain conditions.
Yes· 3 of 10
- Scored +7
Would business owners be better off under this?
Business owners receive direct financial incentives and professional counseling to manage their business transitions.
- Scored +7
Does this make it easier to run a small business?
The bill creates a comprehensive program including toolkits, training, counseling, and tax credits to assist small businesses with succession planning.
- Scored +4
Does this cut taxes for small businesses?
The bill provides a $250 tax credit for establishing a succession plan and an additional $250 for successfully completing one.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Support for Succession Planning: The Administrator will establish a program to help small business concerns develop and implement business succession plans (Section 2(a)).
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Access to Resources: The Administrator will develop a toolkit to assist small businesses in establishing a succession plan, which will be available on a public website (Section 2(b)).
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Dedicated Counseling: Each district office of the Administration and each resource partner will have an employee responsible for providing counseling, either in person or virtually, regarding the use of the toolkit (Section 2(c)(3)).
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Targeted Outreach: The Administrator must create a plan to increase the frequency of succession plans, specifically including methods to increase use by small businesses owned and controlled by socially and economically disadvantaged individuals (Section 2(d)).
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Financial Incentives: Small business concerns can receive a $250 tax credit for the first taxable year they establish a certified succession plan (Section 2(e)(1)(A)(1)).
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Completion Incentives: Small business concerns can receive an additional $250 tax credit for the first taxable year they successfully complete a succession of responsibilities pursuant to a certified plan (Section 2(e)(1)(A)(2)).
Potential Negative Impacts for People
- Tax Credit Recapture: If a small business concern's equity interests or assets are acquired by entities that are not small business concerns within a 3-year period after establishing a plan or completing a succession, the taxpayer must pay back the credit (Section 2(e)(1)(B)(1) and (2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — Business owners receive direct financial incentives and professional counseling to manage their business transitions. Would Black Americans be better off under this? — The bill targets outreach to socially and economically disadvantaged individuals, a group that includes many Black Americans. Would veterans be better off under this, taking everything together? — The bill utilizes Veteran Business Outreach Centers as resource partners for the succession program. Would women be better off under this? — The bill utilizes women's business centers as resource partners to assist with succession planning. Would households on low incomes be better off under this? — Increased stability in small businesses can provide more stable local economic conditions.
- Economy And Finance
- Does this make it easier to run a small business? — The bill creates a comprehensive program including toolkits, training, counseling, and tax credits to assist small businesses with succession planning. Does this cut taxes for small businesses? — The bill provides a $250 tax credit for establishing a succession plan and an additional $250 for successfully completing one. Is this likely to grow the economy? — The bill supports the longevity of small businesses through succession planning and financial incentives. Is this likely to create jobs? — By helping small businesses plan for succession, the bill aims to ensure the continuation of business operations and employment.
- Social Issues And Justice
- Does this narrow racial gaps in how people are treated? — The bill explicitly requires a plan to increase succession plan usage among small businesses owned and controlled by socially and economically disadvantaged individuals.
- 5/29/2026
- 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.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Andrew GarbarinoRepublican · New York