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To amend the Internal Revenue Code of 1986 to modify the rules governing the State administration of self-employment assistance programs.
Summary
- Removes the requirement that participants in state self-employment assistance programs must be likely to exhaust regular unemployment compensation benefits.
- Modifies eligibility requirements for self-employment assistance activities to include either entrepreneurial training and business counseling, or activities performed pursuant to an approved business plan and market feasibility study.
- Establishes a 2-year implementation period for states to comply with the new requirements, though states may begin amending their laws earlier.
- Requires the Secretary of Labor to adopt regulations and provide guidance to state workforce agencies on approved self-employment assistance activities and verification practices.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
3 cosponsors
- Sen. Bennet, Michael F. [D-CO] (D-CO)
- Sen. Husted, Jon [R-OH] (R-OH)
- Sen. Lankford, James [R-OK] (R-OK)
Money behind the sponsor
Top reported contributors to Christopher A. Coons’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- APOLLO GLOBAL MANAGEMENT $24,000
- THE CHEMOURS COMPANY $20,000
- INVARIANT $17,500
- BARCLAYS $16,500
- AXXESS $15,000
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Christopher A. Coons → · Outside spending →
Actions (2)
- Jul 16, 2026 Read twice and referred to the Committee on Finance. · senate
- Jul 16, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE SENATE OF THE UNITED STATES
July 16, 2026
Mr. Coons (for himself, Mr. Lankford, and Mr. Husted) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to modify the rules governing the State administration of self-employment assistance programs.
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 “New Opportunities for Business Ownership and Self-Sufficiency Act” or the “NO BOSS Act”.
SEC. 2. MODIFICATION OF RULES GOVERNING STATE ADMINISTRATION OF SELF- EMPLOYMENT ASSISTANCE PROGRAMS.
(a) Elimination of Requirement That Participants Are Likely To Exhaust Regular Unemployment Compensation.—Section 3306(t)(3) of the Internal Revenue Code of 1986 is amended by striking subparagraph (B) and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and
(C), respectively.
(b) Modification of Requirement To Participate in Self-Employment Assistance Activities.—Section 3306(t)(3)(B) of the Internal Revenue Code of 1986, as redesignated by subsection (a), is amended to read as follows:
“(B) are participating in self-employment assistance activities which are approved by the State agency and either—
“(i) include entrepreneurial training, business counseling, and technical assistance; or
“(ii) are performed pursuant to a business plan and market feasibility study submitted by the individual and approved by the State or an agency designated by the State; and”.
(c) Effective Date.—The amendments made by this section shall apply beginning on the date that is 2 years after the date of enactment of this section, except that nothing in this section shall be interpreted to prevent a State from amending its law before the end of the 2-year period beginning on the date of the enactment of this section.
(d) Issuance of Regulations.—The Secretary of Labor shall, after public notice and comment and subject to approval by the Office of Management and Budget, adopt regulations to administer this section.
(e) Issuance of Guidance.—The Secretary of Labor shall provide guidance to State workforce agencies that includes—
(1) a model list of self-employment assistance activities that fulfill requirements of the program under section 3306(t) of the Internal Revenue Code of 1986; and
(2) best practices for verification of completion of such activities. <all>
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