# Plain Language Summary of H.R. 3195

This bill makes a change to how the government defines small businesses owned by service-disabled veterans. Right now, if a veteran with a service-connected disability owns a small business and passes away, that business loses its special veteran-owned status immediately because it's no longer owned by a living disabled veteran. This bill allows the business to keep that status for a limited time if the veteran's surviving child inherits the business.

Here's why this matters: The federal government gives special benefits and support to small businesses owned by service-disabled veterans, including help getting government contracts and access to certain loan programs. When a veteran dies and their child takes over the family business, the company suddenly loses access to these programs and benefits, even though the child is trying to keep the business running. Under this new rule, if a veteran's child inherits the business, it can continue to be treated as a service-disabled veteran-owned business for up to three years after the veteran's death. This gives the child time to transition into full ownership and keep the business operating without losing the support programs.

The bill applies to biological children or legally adopted children of service-disabled veterans. The three-year window ends earlier if the child decides to sell their ownership stake in the business before that time is up. This is a relatively modest change designed to help military families preserve their businesses and livelihoods when a veteran owner passes away.

To amend the Small Business Act to include surviving children in the definition of small business concern owned and controlled by service-disabled veterans, and for other purposes.