21st Century Entrepreneurship Act

Hozzl · 2024-01-12T16:30:20Z

Explore the details of Senate Bill 1222 21st Century Entrepreneurship Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

1/12/2024, 4:30 PM

Summary of Bill S 1222

The 21st Century Entrepreneurship Act, also known as Bill 118 s 1222, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to support and promote entrepreneurship in the United States by providing resources and assistance to small businesses and startups.

One key provision of the bill is the establishment of a grant program to provide funding to small businesses and entrepreneurs. This program aims to help these businesses grow and succeed by providing them with the financial support they need to develop their products and services, hire employees, and expand their operations.

Additionally, the 21st Century Entrepreneurship Act includes measures to streamline regulations and reduce barriers to entry for new businesses. This includes simplifying the process for obtaining permits and licenses, as well as providing training and support for entrepreneurs navigating the regulatory landscape. The bill also includes provisions to promote diversity and inclusion in entrepreneurship, with a focus on supporting women, minority, and veteran-owned businesses. This includes funding for programs that provide mentorship, training, and networking opportunities for underrepresented entrepreneurs. Overall, the 21st Century Entrepreneurship Act aims to foster a more vibrant and diverse entrepreneurial ecosystem in the United States, with the goal of driving innovation, creating jobs, and boosting economic growth.

Congressional Summary of S 1222

21st Century Entrepreneurship Act

This bill requires the Small Business Administration (SBA) to develop a curriculum for volunteers with the Service Corps of Retired Executives (SCORE) to teach underrepresented students (e.g., minority students, English learners, and children with disabilities) about entrepreneurship.

The SBA shall develop and implement a strategy to encourage partnerships between the SCORE program and community learning centers to teach this curriculum and, in developing the curriculum, collaborate with education specialists and groups with experience serving underrepresented children.

The SBA must submit a biennial report on partnerships between the SCORE program and community learning centers, the use of funds by the program, the number of students reached through the entrepreneurship curriculum, and plans for improving the curriculum.

Read the Full Bill

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Current Status of Bill S 1222

Bill S 1222 is currently in the status of Bill Introduced since April 20, 2023. Bill S 1222 was introduced during Congress 118 and was introduced to the Senate on April 20, 2023. Bill S 1222's most recent activity was Read twice and referred to the Committee on Small Business and Entrepreneurship. as of April 20, 2023

Bipartisan Support of Bill S 1222

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1222

Primary Policy Focus

Commerce

Alternate Title(s) of Bill S 1222

21st Century Entrepreneurship Act

A bill to require the Administrator of the Small Business Administration to encourage entrepreneurship training in after school programs, and for other purposes.