House Bill 6348
116th Congress(2019-2020)
To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.
Introduced
Introduced in House on Mar 23, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6348
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
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.
March 23, 2020
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03/23/2020
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.
03/23/2020
Introduced in House
Public Record
Record Updated
Feb 9, 2022 3:11:43 AM