[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4931 Introduced in House (IH)]
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116th CONGRESS
1st Session
H. R. 4931
To establish a competitive grant program within the Department of
Commerce to support nationwide growth and success of business
incubators.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
October 30, 2019
Mr. Ryan introduced the following bill; which was referred to the
Committee on Transportation and Infrastructure, and in addition to the
Committee on Financial Services, 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 a competitive grant program within the Department of
Commerce to support nationwide growth and success of business
incubators.
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 ``Incubator Act of 2019''.
SEC. 2. BUSINESS INCUBATOR GRANT PROGRAM.
(a) Establishment.--The Department of Commerce, acting through the
Assistant Secretary of Commerce for Economic Development, shall
establish and carry out a competitive grant program to provide
financial assistance to support the growth and success of business
incubators.
(b) Application.--An eligible applicant desiring a grant under this
section shall submit to the Assistant Secretary for the program
established under subsection (a) an application at such time, in such
manner, and containing such information as the Assistant Secretary may
require.
(c) Awarding of Grants.--In awarding grants under this section, the
Assistant Secretary shall--
(1) consider factors such as population, unemployment
level, and business creation metrics to ensure that the program
addresses demonstrated needs and achieves high impact; and
(2) ensure grants are made broadly available to eligible
applicants from all States to promote business incubator
development nationwide.
(d) Maximum Allowable Amount for Each State.--The maximum amount
awarded to eligible applicants in a single State in a fiscal year under
this section may not exceed $5,000,000.
(e) Use of Funds.--An entity receiving a grant under this section
may use grant amounts for operating expenses and may not use such
amounts for capital expenditures.
(f) Priority of Awardees.--In providing funds awarded under this
section, the Assistant Secretary shall prioritize applications from
eligible applicants that are located in an opportunity zone.
(g) Terms.--
(1) Amount.--A grant awarded under this section shall not
be more than $500,000 for each fiscal year.
(2) Duration.--A grant shall be awarded for a period not to
exceed 4 years.
(3) Subsequent award.--Upon the expiration of a grant
awarded under this section, the grant recipient is eligible to
apply for an additional grant.
(4) Supplement not supplant.--None of the funds made
available to an entity under this section shall supplant any
funds provided by a State for the operating expenses of an
incubator.
(h) Program Impacts and Reporting.--
(1) Methods and metrics.--The Assistant Secretary shall
develop methods and metrics to--
(A) assess the impacts of the program; and
(B) evaluate the ongoing success of business
incubators funded under this section.
(2) Report.--Not later than the last day of each fiscal
year, the Assistant Secretary shall submit to Congress, and
make available to the public on an internet website, a
comprehensive annual report on the awards, status, and impacts
of the program, including key program highlights and success
stories for the most recent fiscal year.
(i) Definitions.--In this Act:
(1) Assistant secretary.--The term ``Assistant Secretary''
means the Assistant Secretary of Commerce for Economic
Development of the Department of Commerce.
(2) Business incubator.--The term ``business incubator''
means an organization that--
(A) provides physical workspace and facilities
resources to startups and established businesses; and
(B) is designed to accelerate the growth and
success of businesses through a variety of business
support resources and services, including--
(i) access to capital, business education,
and counseling;
(ii) networking opportunities;
(iii) mentorship opportunities; and
(iv) other services intended to aid in
developing a business.
(3) Opportunity zone.--The term ``opportunity zone'' has
the meaning given the term qualified opportunity zone in
section 1400Z-1 of the Internal Revenue Code of 1986.
(4) Eligible applicant.--The term ``eligible applicant''
means a person that--
(A) owns or manages an existing business incubator
that is a nonprofit organization;
(B) is able to provide the physical workspace,
equipment, and connectivity necessary for businesses
and entrepreneurs to collaborate and conduct business
on a local, regional, national, and international
level; and
(C) has been operational for not less than 1 year
before receiving a grant under this section.
(5) State.--The term ``State'' means each State of the
United States, the District of Columbia, each commonwealth,
territory or possession of the United States, and each
federally recognized Indian Tribe.
(6) Nonprofit organization.--The term ``nonprofit
organization'' means an organization that is described under
section 501(c) of the Internal Revenue Code of 1986 and exempt
from tax under section 501(a) of such Code.
(j) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this Act, $50,000,000 for each of fiscal
years 2020 through 2025.
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