S. 98-110

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Senate Bill 98 (110th Congress)
Minority Entrepreneurship Development Act of 2007
Sponsor: Sen Kerry, John F.
Committees: Senate Small Business and Entrepreneurship

Introduced on January 04, 2007 by John Kerry.

Contents

Update Status

S. 98-110A bill to foster the development of minority-owned small businesses.
January 4, 2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Text of legislation begins on page S106 of that day's Congressional Record.


What the legislation will do

From ref 1:

First, this legislation will create an Office of Minority Small Business Development at the Small Business Administration. One of its primary functions will be to increase the number of small business loans that minority businesses receive. Latinos, African-Americans, Asian-Americans and women have been receiving far fewer small business loans than they reasonably should.

To ensure that this trend is reversed and minorities begin to get a greater share of loan dollars, venture capital investments, counseling, and contracting opportunities, this bill will give the new office the authority to monitor the outcomes for SBA’s Capital Access, Entrepreneurial Development, and Government Contracting programs. It also requires the head of the Office to work with SBA’s partners, trade associations and business groups to identify more effective ways to market to minority business owners, and to work with the head of SBA’s Field Operations to ensure that district offices have staff and resources to market to minorities.

Section 5 would establish the Minority Entrepreneurship and Innovation Pilot Program of 2007. From ref 1,

This program will offer a competitive grant to Historically Black Colleges and Universities, Tribal Colleges, and Hispanic-Serving Institutions to create an entrepreneurship curriculum at these institutions and to open Small Business Development Centers on those campus’ to serve local businesses.


See Also


References

  1. Kerry Statement on the Minority Entrepreneurship Development Act of 2007 (note: this statement is dated 1/17/2007 on the website, however the legislation was introduced on 1/4/2007, and this statement appears to be the floor statement that Kerry made at the time of introduction, which begins on page S105 of the Congressional Record).

External Links

External links for S. 98
(110th Congress)
S. 98 at DailyKos
S. 98 at Thomas
S. 98 at Billhop
S. 98 at GovTrack
S. 98 at OpenCongress

Source: thomas.gov search

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