On Monday, December 17, 2018, President Trump signed into law the Small Business Runway Extension Act of 2018, which modifies the method for prescribing size standards for small businesses. This act amends 15 U.S.C. 632(a)(2)(C)(ii)(II), changing the size standard determination to be based on the annual average gross receipts of the business concern over a period of 5 years rather than a 3 years.
This act has been signed into law, however, it does not take effect for SBA purposes until SBA publishes its regulations, per John Klein, SBA Office of General Counsel. SBA is currently drafting guidance in response to inquiries about whether the Small Business Runway Extension Act of 2018 has an immediate effect on small business size certifications. The Agency intends to release more information shortly.
Please follow the link below to view the new law:
H.R.6330 – Small Business Runway Extension Act of 2018