H.R. 3195 — 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.

This section expands the definition of a small business concern owned and controlled by service-disabled veterans under the Small Business Act to include, for a period beginning on the date of the service-disabled veteran owner's death and ending on the earlier of the date a surviving child relinquishes ownership or three years after the death, any such concern that previously met the 51% ownership requirement but no longer does if the surviving child acquires the deceased owner's interest and the concern is certified in the SBA's database (under section 36). The section also defines "surviving child" as a biological or legally adopted child of a service-disabled veteran. (Thus, such concerns retain eligibility for federal contracting set-asides during the specified period.)