HR 4422

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IN THE HOUSE OF REPRESENTATIVES

January 12, 2010

Mr. Sestak introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To establish the Minority Entrepreneurship and Business Development Program, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Minority Entrepreneurship and Business Development Act”.

SEC. 2. MINORITY ENTREPRENEURSHIP AND BUSINESS ENTREPRISE CENTER GRANT PROGRAM.

(a) In General.—The Director may make grants to an eligible educational institution or an eligible association or organization—

(1) to assist in establishing an entrepreneurship curriculum for studies; and

(2) for placement of a Minority Business Entreprise Center within the educational institution, association, or organization.

(b) Use of Funds.—

(1) Curriculum and capacity training requirement.—An eligible educational institution, association, or organization receiving a grant under this section shall develop a curriculum and capacity training requirement that includes training in various skill sets needed by successful entrepreneurs, including—

(A) business management and marketing, financial management and accounting, marketing analysis and competitive analysis, and innovation and strategic planning; and

(B) additional entrepreneurial skill sets specific to the needs of the student population and the surrounding community, as determined by the institution.

(2) Minority business enterprise center requirement.—Each eligible educational institution, association or organization receiving a grant under this section shall open a Minority Business Enterprise Center that follows the duties as prescibed by the Director of the Minority Business Development Agency.

(c) Grant Awards.—

(1) In general.—The Director may not award a grant under this section to a single eligible educational institution, association or organization—

(A) in excess of $1,500,000 in any fiscal year; or

(B) for a term of more than 3 years.

(2) Limitation on use of funds.—Funds made available under this section may not be used for—

(A) any purpose other than those associated with the direct costs incurred by the eligible educational institution, association or organization to—

(i) develop and implement the curriculum described in subsection (b)(1); or

(ii) organize and operate a minority business enterprise center, as described subsection (b)(2); or

(B) building expenses, administrative travel budgets, or other expenses not directly related to the costs described in subparagraph (A).

(d) Matching Requirement.—Grants made under this Act shall require a private matching grant of 15 percent.

(e) Report.—

(1) In general.—Not later than 120 days following the end of the fiscal year of each year in which funds are made available for grants under this section, the Director shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives, a report evaluating the success of the program under this section during the preceding fiscal year.

(2) Contents of report.—Each report under paragraph (1) shall include—

(A) a description of each entrepreneurship program developed with grant funds, the date of the award, and the number of participants in each such program;

(B) the number of small business assisted through the minority business enterprise center with grant funds; and

(C) data regarding the economic impact of minority business enterprise center with grant funds.

(f) Authorization of Appropriations.—There are authorized to be appropriated to carry out this section $40,000,000 for each of fiscal years 2010 through 2012, to remain available until expended.

(g) Limitation on Use of Funds.—The Director shall carry out this section only with amounts appropriated in advance specifically to carry out this section.

SEC. 3. OFFICE OF MINORITY ENTREPRENEURSHIP AND BUSINESS DEVELOPMENT.

(a) Office of Minority Entrepreneurship and Business Development.— There is established in the Minority Business Development Agency an Office of Minority Entrepreneurship and Business Development, which shall be administered by an Associate Director for Minority Entrepreneurship and Business Development appointed under section 3(b)(1) (in this section referred to as the “Associate Director”).

(b) Associate Director for Minority Entrepreneurship and Business Development.—The Associate Director shall—

(1) be—

(A) an appointee in the Senior Executive Service who is a career appointee; or

(B) an employee in the competitive service;

(2) increase the proportion of counseling and training that goes to minority start-ups and the Agency’s entrepreneurial development programs;

(3) increase the proportion of the Agency’s contracts to minority entrepreneur and new businesses;

(4) work with the partners of the Agency, trade associations, and business groups to identify and carry out policies and procedures to more effectively market the resources of the Agency to new and small minority-owned businesses;

(5) ensure that the Agency’s district offices and regional offices have adequate staff, funding, and other resources to market the grant program to newly formed and emerging minority- owned businesses and eligible institutions of higher education;

(6) report to and be responsible directly to the Director.

(c) Authorization of Appropriations.—There are authorized to be appropriated to carry out this section—

(1) $7,000,000 for fiscal year 2010;

(2) $7,000,000 for fiscal year 2011; and

(3) $7,000,000 for fiscal year 2012.

SEC. 4. DEFINITIONS.

In this Act—

(1) the terms “Agency” and “Director” mean the Minority Small Business Development Agency and the Director thereof, respectively;

(2) the term “eligible association or organization” means an association or organization that—

(A) is—

(i) a minority business association described under paragraph (3) or (6) of section 501(c) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code; or

(ii) a foundation of minority business associations described under section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code; and

(B) has been in existence for at least the 5-year period before the date of awarding a grant under section 2;

(3) the term “eligible educational institution” means an institution that is—

(A) a public or private institution of higher education (including any land-grant college or university, any college or school of business, engineering, commerce, or agriculture, or community college or junior college) or any entity formed by 2 or more institutions of higher education; and

(B) a—

(i) historically Black college;

(ii) Hispanic-serving institution;

(iii) Asian-serving institution;

(iv) Native Hawaiian-serving institution; or

(v) tribal college;

(4) the term “historically Black college” means a part B institution, as that term is defined in section 322 of the Higher Education Act of 1965 (20 U.S.C. 1061);

(5) the term “Hispanic-serving institution” has the meaning given that term in section 502 of the Higher Education Act of 1965 (20 U.S.C. 1101a);

(6) the term “institution of higher education” has the meaning given that term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001);

(7) the term “small business concern” has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632); and

(8) the term “tribal college” has the same meaning as the term “tribally controlled college or university” under section 2(a)(4) of the Tribally Controlled Community College Assistance Act of 1978 (25 U.S.C. 1801(a)(4)). <all>