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Congress·In Committee·H.R. 9051

Small Business Succession Planning Act

Small Business: Succession Planning Support

22 days ago·View on Congress.gov·Read full text

This bill was recently introduced in the House and is currently being reviewed by two committees. It is in the early stages of the legislative process and is actively moving forward. There are no upcoming votes scheduled at this time.

Legislative Progress

House
Senate
President
Law
Could go either way

It has bipartisan support and addresses a common problem for small businesses, but it is still in the early stages of the committee process.

Key Points

  • The bill requires the Small Business Administration to create a toolkit and training program to help owners plan for the future. This helps ensure a business can keep running if the owner retires or passes away.
  • Small business owners could receive a $250 tax credit for creating a succession plan and another $250 once the new owner takes over. These credits are meant to encourage owners to think ahead.
  • To keep the focus on small businesses, the government can take back the tax credits if a large company buys the business within three years of the plan being made or finished.
  • The Small Business Administration would be required to have staff in local offices specifically trained to help owners with these plans. They would also focus on helping businesses owned by disadvantaged individuals.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions
May 29, 2026House

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.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

May 29, 2026

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

Votes

No votes have been recorded for this legislation yet.

News

No related news coverage found for this legislation yet.

Related Bills

No related bills have been identified yet.

Source Information

Document Type

Congressional Bill

Official Title

Small Business Succession Planning Act

Bill NumberHR 9051
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred 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.
Read Full Bill Text

Sponsor

Cosponsors

(1)
R: 1

Analysis generated by AI. Always verify with official sources.