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1 1 (2019)

handle is hein.congrec/cbosmrwy0001 and id is 1 raw text is: Congressional Budget Office Cost Estimate my i-iscai Year, winInons Or .,onars Direct Spending (Outlays) Revenues Deficit Effect 2019 0 0 0 2019-2024 0 0 0 2019-2029 0 0 0 H.R. 2345 would require the Small Business Administration (SBA) to issue a final rule implementing the Small Business Runway Extension Act of 2018 (Public Law 115-324) by December 17, 2019.1 The bill also would require the SBA to implement a transition plan to assist small businesses and federal agencies in complying with that law. Because the SBA is already undertaking those activities, CBO estimates that those provisions would have no budgetary effect. H.R. 2345 also would require federal agencies to use five years of data, instead of three, when determining whether a businesses can be classified as small based on the number of employees, asset size, or, in the case of oil refineries, its refining capacity. Finally, among other provisions, the General Services Administration would need to update the federal System for Award Management to reflect the new classification standards. Implementing those provisions of H.R. 2345 could affect the number of businesses eligible for certain SBA assistance programs or loan programs and thus raise or lower both the number of participants in those programs and the SBA's administrative costs. However, CBO has no basis for estimating the number of entities that either would newly qualify or 1. P.L. 115-324 requires federal agencies to examine five years of gross receipts, up from three years, when classifying a business as small. The Small Business Jobs Act of 2010 (P.L. 111-240), enacted September 27, 2010, requires the SBA to review the size standards every five years. CBO expects that the SBA will amend its regulations to update those standards in 2020, reflecting the new requirement in P.L. 115-324. See also CBO's Cost Estimates Explained, www.cbo.gov/publication/54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication/53519; and Glossary, www.cbo.gov/publication/42904. June 26, 2019

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