I 112th CONGRESS 1st Session H. R. 3748 IN THE HOUSE OF REPRESENTATIVES December 20, 2011 Ms. Richardson (for herself, Ms. Jackson Lee of Texas, and Mr. Johnson of Georgia) introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To establish a grant program for stipends to assist in the cost of compensation paid by employers to certain recent college graduates and to provide funding for their further education in subjects relating to mathematics, science, engineering, and technology.

1.

Short title

This Act may be cited as the America Realizing the Informational Skills and Initiative of New Graduates Act of 2011 or America RISING Act of 2011.

2.

Findings

Congress finds the following: (1)According to the Bureau of Labor Statistics, in the third quarter of 2009 the national unemployment rate for persons graduating from college in 2008 was 10.6 percent, which is more than twice the national rate for college graduates aged 25 years and older. Because the typical college graduate leaves college owing an average of $23,200 in student loan debt, the current job market offers exceedingly few opportunities for college graduates to obtain employment at a salary adequate to service their student loan debt or personal financial obligations. (2)There are more than 26 million small businesses in the United States. In the current economic climate, these small businesses are experiencing difficulty in finding the resources needed to increase sales, modernize operations, and hire new employees. (3)Recent college graduates need the experience that can be obtained only in the workplace to refine their skills and develop the entrepreneurial qualities that can lead to the creation of new businesses and jobs. (4)Existing small businesses, and companies will benefit from the information and technology skills possessed by many of the Nation’s recent college graduates. (5)Enabling recent college graduates to obtain employment with small businesses benefits the national economy by providing such businesses the human capital and technical expertise needed to compete and win in the global economy of the 21st century.

3.

Establishment of America RISING program

(a)

Establishment

The Secretary of Labor shall establish a program under which— (1)grants are to paid to eligible employers to defray the cost of compensation paid by such employers to recent college graduates; and (2)grants are paid to recent college graduates to enable such individuals to defray the cost of undertaking further education for up to 24 months in subjects relating to mathematics, science, engineering, or technology. (b)

Terms and conditions

A grant under this section may be made on such terms and conditions as the Secretary may determine. (c)

Definitions

In this section: (1)

Eligible employer

The term eligible employer means an employer that is a small business concern (as such term is defined in section 3 of the Small Business Act (15 U.S.C. 632)). (2)

Recent college graduate

(A)

In general

The term recent college graduate means an individual who— (i)who has received a baccalaureate or associate degree from an institution of higher education within the past 24 months; and (ii)who has not previously received any such baccalaureate or associate degree. (B)

Institution of higher education

In subparagraph (A), the term institution of higher education has the meaning given such term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001). (d)

Authorization of appropriations

(1)

In general

There is authorized to be appropriated to carry out this Act $100,000,000 for each of the fiscal years 2012, 2013, and 2014. (2)

Availability

Funds appropriated under paragraph (1) shall remain available until expended.