United States HR 9051: To require the Administrator of the Small Business Administration to establish a program to encourage small business concerns to make business succession plans, and for other purposes.

Summary

This bill requires the Small Business Administration to establish a program that helps small businesses create succession plans for transferring ownership when the current owner retires or passes away. The program includes developing educational resources, training counselors at SBA offices, and offering workshops on succession planning. Additionally, the bill provides a tax credit of up to $500 for small business owners who successfully establish and complete a succession plan, though the credit must be repaid if the business is sold to a non-small business within three years.

Bill Text

I 
119THCONGRESS 
2
DSESSION 
H. R. 9051 
To  require  the  Administrator  of  the  Small  Business  Administration  to  estab-
lish  a  program  to  encourage  small  business  concerns  to  make  business  
succession plans, and for other purposes. 
IN  THE  HOUSE  OF  REPRESENTATIVES  
MAY29, 2026 
Mr.  C
ROW(for  himself  and  Mr.  GARBARINO)  introduced  the  following  bill;  
which  was  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  provi-
sions as fall within the jurisdiction of the committee concerned 
A  BILL  
To  require  the  Administrator  of  the  Small  Business  Adminis-
tration  to  establish  a  program  to  encourage  small  busi-
ness  concerns  to  make  business  succession  plans,  and  
for other purposes. 
Be  it  enacted  by  the  Senate  and  House  of  Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Small Business Succes-4
sion Planning Act’’. 5
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SEC.  2.  BUSINESS  SUCCESSION  PLANS  FOR  SMALL  BUSI-1
NESS CONCERNS. 2
(a)  I
NGENERAL.—The  Administrator  of  the  Small  3
Business Administration shall establish a program to help 4
small  business  concerns  develop  and  implement  business  5
succession plans. 6
(b)  T
OOLKIT.—The  Administrator,  in  consultation  7
with  resource  partners,  shall  develop  a  toolkit  to  assist  8
small  business  concerns  in  establishing  a  business  succes-9
sion plan. Such toolkit shall be made available on a public 10
website of the Administration. 11
(c) P
ROGRAMCOMPONENTS.—The Administrator— 12
(1)  shall  train  resource  partners  on  using  the  13
toolkit  described  in  subsection  (b)  with  small  busi-14
ness concerns; 15
(2)  shall  educate  small  business  concerns  about  16
the program established under this section; 17
(3)  shall  ensure  that  each  district  office  of  the  18
Administration  and  each  resource  partner  described  19
in  subparagraphs  (B)  through  (E)  has  an  employee  20
with  the  specific  job  responsibility  of  providing  coun-21
seling,  in  person  or  virtually,  to  small  business  con-22
cerns  on  use  of  the  toolkit  described  in  subsection  23
(b); and 24
(4)  may  hold  workshops  or  events  on  business  25
succession planning. 26
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(d)  PLAN.—Not  later  than  120  days  after  the  date  1
of  the  enactment  of  this  Act,  the  Administrator  shall  sub-2
mit  to  the  appropriate  committees  a  plan  for  increasing  3
the  amount  of  small  business  concerns  that  have  business  4
succession  plans.  Such  plan  shall  include  a  description  of  5
methods to increase the frequency and use of business suc-6
cession  plans  by  small  business  concerns  owned  and  con-7
trolled by socially and economically disadvantaged individ-8
uals  (as  defined  in  section  8(d)(3)(C)  of  the  Small  Busi-9
ness Act (15 U.S.C. 637(d)(3)(C))). 10
(e)  T
AXCREDIT  FORSMALLBUSINESSCONCERNS 11
W
HICHCOMPLETE ABUSINESSSUCCESSIONPLAN.— 12
(1)  I
N   GENERAL.—Subpart  D  of  part  IV  of  13
subchapter  A  of  chapter  1  of  the  Internal  Revenue  14
Code  of  1986  is  amended  by  adding  at  the  end  the  15
following new section: 16
‘‘SEC. 45BB. BUSINESS SUCCESSION PLAN CREDIT. 17
‘‘(a)  I
NGENERAL.—For  purposes  of  section  38,  the  18
business succession plan credit determined under this sec-19
tion is— 20
‘‘(1)   $250   for   the   first   taxable   year   during   21
which  the  Administrator  of  the  Small  Business  Ad-22
ministration  certifies  that  the  taxpayer  has  estab-23
lished  a  business  succession  plan,  that  the  taxpayer  24
is  a  small  business  concern  at  the  time  that  such  25
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plan  is  established,  and  that  such  plan  does  not  pro-1
vide  for  substantially  all  of  the  interests  or  assets  of  2
small  business  concern  to  be  acquired  by  one  or  3
more  entities  which  are  not  small  business  concerns,  4
and 5
‘‘(2)   $250   for   the   first   taxable   year   during   6
which  such  Administrator  certifies  that  the  taxpayer  7
has  successfully  completed  a  succession  of  respon-8
sibilities   pursuant   to   a   business   succession   plan   9
which  was  certifi