United States 119th Congress Status: In Committee 2 R cosponsors

S 1047 — Assisting Small Businesses Not Fraudsters Act

Last action — Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced March 13, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 18% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

10 added · 4 removed

Plain-language change summary

The bill now cites Mr. Young as the primary sponsor alongside Ms. Ernst, indicating that both are introducing the legislation together. Additionally, references to the bill being introduced in the Senate have been removed, along with earlier dates suggesting its initial introduction. This change emphasizes the current stage of the bill’s progression through the Senate rather than its introduction.

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Latest
1047 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S.
1047 Reported in Senate (RS)] <DOC> Calendar No.
36 119th CONGRESS 1st Session S.
Young introduced the following bill;
Young (for himself and Ms.
which was read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ A BILL To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.
Ernst) introduced the following bill;
which was read twice and referred to the Committee on Small Business and Entrepreneurship April 1 (legislative day, March 31), 2025 Reported by Ms.
Ernst, without amendment _______________________________________________________________________ A BILL To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.
<all>
Calendar No.
36 119th CONGRESS 1st Session S.
1047 _______________________________________________________________________ A BILL To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.
_______________________________________________________________________ April 1 (legislative day, March 31), 2025 Reported without amendment
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How this bill changes current law

1 change Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill prohibits individuals with certain fraud convictions from receiving financial assistance from the Small Business Administration.

  • 15 U.S.C. 645

    (h) Financial Assistance Prohibition.-- (1) In general.--An associate of a small business concern who is finally convicted of any crime involving or relating to financial misconduct or a false statement with respect to a covered loan or grant shall be ineligible to receive any financial assistance from the Administrator, other than financial assistance under section 7(b). (2) Business concerns.--A small business concern that has as an associate an individual subject to paragraph (1) shall be ineligible to receive any financial assistance from the Administrator, other than financial assistance under section 7(b). (3) Definitions.--In this subsection: (A) Associate.--The term `associate' means, with respect to a small business concern-- (i) an officer, director, or owner of more than 20 percent of the equity of, or a key employee of, such small business concern; (ii) any entity not less than 20 percent owned or controlled by one or more individuals referred to in clause (i); and (iii) any other individual or entity in control of or controlled by such small business concern, except for a licensed small business investment company (as defined in section 103(3) of the Small Business Investment Act of 1958 (15 U.S.C. 662(3))). (B) Covered loan or grant.--The term `covered loan or grant' means-- (i) a loan made under-- (I) paragraph (36) or (37) of section 7(a); or (II) section 7(b) in response to the COVID-19 pandemic; or (ii) a grant made under-- (I) section 5003 of the American Rescue Plan Act of 2021 (15 U.S.C. 9009c); or (II) section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (15 U.S.C. 9009a). (C) Finally convicted.--The term `finally convicted' means, with respect to a person, that such person has been convicted of an offense and such conviction-- (i) has not been appealed and is no longer appealable because the time for taking an appeal has expired; or (ii) has been appealed and the appeals process for such conviction is completed.

    This addition establishes a prohibition against providing financial assistance from the SBA to individuals and small businesses associated with individuals convicted of fraud or financial misconduct.

Action History

  1. Committee on Small Business and Entrepreneurship. Reported by Senator Ernst without amendment. Without written report.

  2. Committee on Small Business and Entrepreneurship. Reported by Senator Ernst without amendment. Without written report.

  3. Placed on Senate Legislative Calendar under General Orders. Calendar No. 36.

  4. Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.

  5. Introduced in Senate

  6. Read twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 545 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (545)

545 members have not signed on to this bill.

Show all 545 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 1047?
S 1047 is sponsored by Young, Todd (Republican) and Ernst, Joni (Republican).
What is the current status of S 1047?
This bill is in committee in the Senate. Introduced March 13, 2025. It must pass committee before a floor vote.
Where can I track S 1047?
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