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To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.

2/9/2022, 3:11 AM

Congressional Summary of HR 6348

This bill requires the Minority Business Development Agency to award a grant to fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, which provides equity capital to invest in minority- and women-owned businesses.

Interest earned on grant funds deposited into an interest-bearing account may be obligated and expended to carry out the grant's purposes.

The Government Accountability Office shall carry out a biennial audit of the initiative and issue a report to Congress and the Minority Business Development Agency.

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Current Status of Bill HR 6348

Bill HR 6348 is currently in the status of Bill Introduced since March 23, 2020. Bill HR 6348 was introduced during Congress 116 and was introduced to the House on March 23, 2020.  Bill HR 6348's most recent activity was Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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. as of March 23, 2020

Bipartisan Support of Bill HR 6348

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 6348

Primary Policy Focus

Commerce

Potential Impact Areas

- Accounting and auditing
- Administrative remedies
- Business expenses
- Business records
- Congressional oversight
- Department of Commerce
- Government Accountability Office (GAO)
- Government information and archives
- Minority and disadvantaged businesses

Alternate Title(s) of Bill HR 6348

To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.
To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.

Comments

Sponsors and Cosponsors of HR 6348

Sylvia R. Garcia
Sylvia R. Garcia
TexasDemocrat
Maxine Waters
Maxine Waters
CaliforniaDemocrat

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