[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2809 Introduced in House (IH)]
112th CONGRESS
1st Session
H. R. 2809
To amend the Riegle Community Development and Regulatory Improvement
Act of 1994 to improve the microenterprise technical assistance and
capacity building grant program, to establish an Office of Youth
Entrepreneurship in the Small Business Administration, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
August 5, 2011
Mr. Richmond introduced the following bill
September 6, 2011
Referred to the Committee on Financial Services, and in addition to the
Committees on Small Business, and Education and the Workforce, 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 amend the Riegle Community Development and Regulatory Improvement
Act of 1994 to improve the microenterprise technical assistance and
capacity building grant program, to establish an Office of Youth
Entrepreneurship in the Small Business Administration, 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 ``Microenterprise and Youth
Entrepreneurship Development Act of 2011''.
SEC. 2. MICROENTERPRISE TECHNICAL ASSISTANCE AND CAPACITY BUILDING
PROGRAM.
(a) Definitions.--Section 172(5) of the Riegle Community
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6901(5))
is amended--
(1) in subparagraph (B) by striking ``or'' at the end;
(2) in subparagraph (C) by striking the period at the end
and inserting ``; or''; and
(3) by adding at the end the following:
``(D) an entrepreneur that operates a business or
intends to operate a business in an investment area (as
such term is defined in section 103(16) of this
Act).''.
(b) Uses of Assistance.--Section 174 of the Riegle Community
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6903) is
amended--
(1) in paragraph (3) by striking ``and'' at the end;
(2) by redesignating paragraph (4) as paragraph (5); and
(3) by inserting after paragraph (3) the following:
``(4) to advertise in print, electronic, and other media
the training and technical assistance provided under paragraph
(1); and''.
(c) Targeted Assistance.--Section 176(b) of the Riegle Community
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6905(b))
is amended by striking ``50 percent'' and inserting ``60 percent''.
(d) Matching Requirements.--Section 177(c) of the Riegle Community
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6906(c))
is amended by adding at the end the following:
``(3) Consideration.--In determining whether to reduce or
eliminate matching requirements under paragraph (1), the
Administrator shall consider the impact of the economic crisis
of 2007 through 2009 on the geographic area in which an
applicant operates.''.
(e) Report.--Not later than 180 days after the date of enactment of
this Act, the Administrator of the Small Business Administration shall
submit to the Committee on Small Business of the House of
Representatives and the Committee on Small Business and
Entrepreneurship of the Senate a report describing recommendations for
improving the application and grant making process of the
microenterprise technical assistance and capacity building grant
program (carried out under subtitle C of title I of the Riegle
Community Development and Regulatory Improvement Act of 1994),
including recommendations, developed in consultation with stakeholders,
for streamlining the application and grant making process of that
program.
(f) Microenterprise Coordinator.--
(1) Establishment.--Not later than 1 year after the date of
enactment of this Act, the Administrator shall establish in the
Small Business Administration the position of Microenterprise
Coordinator.
(2) Duties.--The Microenterprise Coordinator shall--
(A) work to ensure that the contributions of
microenterprises to the economy are maximized;
(B) work to enhance, support, and coordinate the
programs of the Federal Government providing assistance
to microenterprises, including Federal technical
assistance programs;
(C) work to ensure that underserved entrepreneurs
are included in the programs of the Federal Government
providing assistance to microenterprises;
(D) make available to the public annually a
comprehensive list and description of each Federal
program that provides assistance to microenterprises;
and
(E) encourage public-private partnerships that
support entrepreneurship.
(3) Microenterprise defined.--In this subsection, the term
``microenterprise'' has the meaning given that term in section
172(10) of the Riegle Community Development and Regulatory
Improvement Act of 1994 (15 U.S.C. 6901(10)).
SEC. 3. OFFICE OF YOUTH ENTREPRENEURSHIP.
(a) Establishment.--Not later than 1 year after the date of
enactment of this Act, the Administrator of the Small Business
Administration shall establish an Office of Youth Entrepreneurship (in
this section referred to as the ``Office'') in the Small Business
Administration.
(b) Director.--The Administrator shall appoint a Director of Youth
Entrepreneurship (in this section referred to as the ``Director'') to
serve as the head of the Office.
(c) Duties.--The Director shall--
(1) carry out the youth entrepreneurship technical
assistance grant program described in subsection (d);
(2) carry out the youth entrepreneurship curriculum grant
program described in subsection (e);
(3) promote the growth of youth entrepreneurship by
establishing public-private partnerships and carrying out
advertising campaigns;
(4) sponsor and support State and national youth
entrepreneurship competitions that raise awareness of the
importance of small business development;
(5) study and promote Federal activities that support
entrepreneurship education; and
(6) support the establishment of public and private youth
entrepreneurship education and mentoring opportunities.
(d) Youth Entrepreneurship Technical Assistance Grant Program.--The
Director shall establish a program under which the Director may make
grants to assist entities, including nonprofit microenterprise
development organizations, to provide individuals under 25 years of age
with technical assistance related to entrepreneurship.
(e) Youth Entrepreneurship Curriculum Grant Program.--
(1) In general.--The Director shall establish a program
under which the Director may make grants to a covered entity to
assist the development, improvement, or implementation of a
youth entrepreneurship curriculum that includes information on
the topics of--
(A) securing capital and borrowing;
(B) business plan conception and drafting;
(C) accounting;
(D) management; and
(E) marketing.
(2) Application process.--To be eligible for a grant
described in paragraph (1), a covered entity shall submit to
the Director an application at such time, in such manner, and
containing such information as the Director may require, except
that the application shall include at least--
(A) a description of the curriculum to be
developed, improved, or implemented;
(B) a description of how grant funds will be used;
(C) a description of goals relating to the use of
grant funds and the curriculum to be developed,
improved, or implemented; and
(D) a description of how progress will be measured
with respect to the goals described in subparagraph
(C).
(3) Covered entity defined.--In this subsection, the term
``covered entity'' means a local educational agency in any of
the several States, the District of Columbia, or a territory or
possession of the United States and a local educational agency
of a federally recognized Indian tribe.
(f) Investment Areas.--
(1) In general.--The Director shall ensure that at least 25
percent of the amounts made available to carry out the Office
each fiscal year are used to assist youth in investment areas.
(2) Investment area defined.--In this subsection, the term
``investment area'' has the meaning given that term in section
103(16) of the Riegle Community Development and Regulatory
Improvement Act of 1994 (12 U.S.C. 4702(16)).
(g) Student Loan Assistance.--Not later than 180 days after the
date of enactment of this Act, the Director, in consultation with the
Secretary of Education, shall submit to Congress a report that includes
detailed recommendations for legislation--
(1) establishing a program to forgive student loans in a
manner that assists youth entrepreneurship by making available
capital for business formation; and
(2) establishing a program to defer student loan repayments
in a manner that assists youth entrepreneurship by making
available capital for business formation.
SEC. 4. GAO STUDY AND REPORT.
(a) Study.--The Comptroller General of the United States shall
conduct a study on--
(1) the economic impact of allowing youth entrepreneurs to
defer student loan repayments to make available capital for
business formation;
(2) the economic impact of increasing the participation of
individuals under 25 years of age in the microloan program of
the Small Business Administration (carried out under section
7(m) of the Small Business Act (15 U.S.C. 636(m)),
notwithstanding the limited collateral and formal business
experience of such individuals;
(3) alternative methods for measuring creditworthiness that
may assist youth entrepreneurship; and
(4) actions Congress should consider to promote youth
entrepreneurship.
(b) Report.--Not later than 180 days after the date of enactment of
this Act, the Comptroller General shall submit to the Committee on
Small Business of the House of Representatives and the Committee on
Small Business and Entrepreneurship of the Senate a report on the
results of the study conducted under subsection (a).
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