Legis Daily

New Opportunities for Business Ownership and Self-Sufficiency Act

USA119th CongressHR-6431| House 
| Updated: 2/20/2026
Mike Carey

Mike Carey

Republican Representative

Ohio

Cosponsors (6)
Greg Landsman (Democratic)Eugene Simon Vindman (Democratic)Nathaniel Moran (Republican)Rudy Yakym (Republican)Max L. Miller (Republican)Randy Feenstra (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This legislation aims to streamline and expand state self-employment assistance programs by removing the requirement that participants must be likely to exhaust their regular unemployment compensation, thereby broadening eligibility. It modifies the criteria for approved self-employment activities, now requiring them to include either entrepreneurial training, business counseling, and technical assistance , or be based on an individual's approved business plan and market feasibility study , while also introducing a new requirement for participants to certify their activities on a weekly basis. A significant change is the adjustment of the limitation on program participation, increasing it from 5 percent to 10 percent of individuals receiving regular unemployment compensation. These amendments will take effect two years after enactment, allowing states time to adapt their laws and implement the new regulations to be issued by the Secretary of Labor.

Bill Text Versions

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2 versions available

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Timeline

Bill from Previous Congress

HR 118-8605
New Opportunities for Business Ownership and Self-Sufficiency Act
Dec 4, 2025
Introduced in House
Dec 4, 2025
Referred to the House Committee on Ways and Means.
Jan 14, 2026
Committee Consideration and Mark-up Session Held
Jan 14, 2026
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 41 - 0.
Feb 20, 2026
Placed on the Union Calendar, Calendar No. 435.
Feb 20, 2026
Reported (Amended) by the Committee on Ways and Means. H. Rept. 119-509.
  • Bill from Previous Congress

    HR 118-8605
    New Opportunities for Business Ownership and Self-Sufficiency Act


  • December 4, 2025
    Introduced in House


  • December 4, 2025
    Referred to the House Committee on Ways and Means.


  • January 14, 2026
    Committee Consideration and Mark-up Session Held


  • January 14, 2026
    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 41 - 0.


  • February 20, 2026
    Placed on the Union Calendar, Calendar No. 435.


  • February 20, 2026
    Reported (Amended) by the Committee on Ways and Means. H. Rept. 119-509.

Taxation

New Opportunities for Business Ownership and Self-Sufficiency Act

USA119th CongressHR-6431| House 
| Updated: 2/20/2026
This legislation aims to streamline and expand state self-employment assistance programs by removing the requirement that participants must be likely to exhaust their regular unemployment compensation, thereby broadening eligibility. It modifies the criteria for approved self-employment activities, now requiring them to include either entrepreneurial training, business counseling, and technical assistance , or be based on an individual's approved business plan and market feasibility study , while also introducing a new requirement for participants to certify their activities on a weekly basis. A significant change is the adjustment of the limitation on program participation, increasing it from 5 percent to 10 percent of individuals receiving regular unemployment compensation. These amendments will take effect two years after enactment, allowing states time to adapt their laws and implement the new regulations to be issued by the Secretary of Labor.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 118-8605
New Opportunities for Business Ownership and Self-Sufficiency Act
Dec 4, 2025
Introduced in House
Dec 4, 2025
Referred to the House Committee on Ways and Means.
Jan 14, 2026
Committee Consideration and Mark-up Session Held
Jan 14, 2026
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 41 - 0.
Feb 20, 2026
Placed on the Union Calendar, Calendar No. 435.
Feb 20, 2026
Reported (Amended) by the Committee on Ways and Means. H. Rept. 119-509.
  • Bill from Previous Congress

    HR 118-8605
    New Opportunities for Business Ownership and Self-Sufficiency Act


  • December 4, 2025
    Introduced in House


  • December 4, 2025
    Referred to the House Committee on Ways and Means.


  • January 14, 2026
    Committee Consideration and Mark-up Session Held


  • January 14, 2026
    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 41 - 0.


  • February 20, 2026
    Placed on the Union Calendar, Calendar No. 435.


  • February 20, 2026
    Reported (Amended) by the Committee on Ways and Means. H. Rept. 119-509.
Mike Carey

Mike Carey

Republican Representative

Ohio

Cosponsors (6)
Greg Landsman (Democratic)Eugene Simon Vindman (Democratic)Nathaniel Moran (Republican)Rudy Yakym (Republican)Max L. Miller (Republican)Randy Feenstra (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted