CREATE Act of 2022

Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy Act of 2022 or the CREATE Act of 2022

This bill expands financial assistance for, and establishes measures to support, the creative economy and art entrepreneurs.

Specifically, the bill requires (1) the Small Business Administration to develop loan criteria, evaluation procedures, and technical assistance programs for small business concerns that are owned by artists and support the creative economy; and (2) the Department of Commerce to ensure that traditional economic development tools, such as business incubators and grant programs, support the arts industry and creative economy.

The CREATE Act of 2022, also known as Bill 117 hr 6381, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to promote innovation and economic growth by supporting research and development in the fields of science, technology, engineering, and mathematics (STEM).

The CREATE Act aims to achieve this goal by providing funding and resources for STEM education programs, research initiatives, and workforce development efforts. The bill also seeks to increase collaboration between government agencies, academic institutions, and private sector companies in order to foster innovation and technological advancement.

One key provision of the CREATE Act is the establishment of a National Science and Technology Council, which would be responsible for coordinating and overseeing federal STEM initiatives. The bill also includes provisions for increasing access to STEM education for underrepresented groups, such as women and minorities, in order to promote diversity and inclusion in the STEM fields. Overall, the CREATE Act of 2022 is a comprehensive piece of legislation that aims to support and promote innovation in STEM fields in order to drive economic growth and technological advancement in the United States.