Bill · H.R. 9051· House(119-HR-9051)
Small Business Succession Planning Act
- Introduced
- 5/29/2026
- Last activity
- 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.
- Sponsored by
- Jason Crow
- Cosponsors
- - 0 - 1
- 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
Would business owners be better off under this?+7
Business owners receive direct financial incentives and professional counseling to manage their business transitions.
Does this make it easier to run a small business?+7
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?+4
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
-
Support for Succession Planning: The Administrator will establish a program to help small business concerns develop and implement business succession plans (Section 2(a)).
-
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)).
-
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)).
-
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)).
-
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)).
-
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. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+7Good For African Americans+3Good For Veterans+3Good For Women+3Good For Low Income Households+1
- Economy And Finance
- Improves Small Business Support+7Reduces Small Business Taxes+4Improves Economic Growth+2Increases Job Creation+2
- Social Issues And Justice
- Improves Racial Equity+3
- 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