H.R. 2345
Referred to CommitteeClarifying the Small Business Runway Extension Act
Latest Action
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
7/16/2019 • Senate
Summary
Clarifying the Small Business Runway Extension Act
This bill addresses the statutory authority of the Small Business Runway Extension Act of 2018.
The Small Business Administration (SBA) is subject to the Act's requirements for prescribing size standards for small businesses.
The SBA must (1) issue a final rule implementing such Act by December 17, 2019, and (2) implement a transition plan to assist businesses and federal agencies in complying with the Act's requirements.
The bill calculates (1) size standards for small businesses providing services on the basis of the annual average gross receipts of the business over a five-year period (currently, at least a five-year period); and (2) the size of other businesses on the basis of data over a five-year period (currently, at least a three-year period).
The System for Award Management must be updated to comply with the requirements of this bill.
Passed House • 7/15/2019
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
Sponsor
Cosponsors (2)
Bill Journey
Originated in the House
Introduced
April 18, 2019
Committee Review
June 13, 2019
Reported (Amended) by the Committee on Small Business. H. Rept. 116-116.
Floor Debate
July 15, 2019
Passed Chamber
July 15, 2019
Other Chamber
President
Enacted into Law