Bill Sponsor
Senate Bill 4208
116th Congress(2019-2020)
Minority Business Resiliency Act of 2020
Introduced
Introduced
Introduced in Senate on Jul 2, 2020
Overview
Text
Sponsor
Introduced
Jul 2, 2020
Latest Action
Jul 2, 2020
Origin Chamber
Senate
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
4208
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.
Sponsorship by Party
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Minority Business Resiliency Act of 2020

This bill permanently authorizes the Minority Business Development Agency and provides additional funding for the agency to assist minority businesses affected by COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill requires the agency to (1) promote and administer minority business development programs in the public and private sectors, and (2) carry out programs that increase access to capital, management, and technology for such businesses. The bill provides statutory authority for the agency's existing initiatives. Such initiatives include the Minority Business Development Center Program, which is a national network of public-private partnerships that assist, provide counseling and mentoring to, and facilitate the growth of minority businesses.

The bill also establishes new initiatives to promote resiliency for minority businesses, such as (1) an annual government-business forum to review the status of problems and programs relating to capital formation by minority businesses, (2) an agency study on opportunities to provide alternative financing solutions to minority businesses, and (3) grants to institutions of higher education for developing and implementing entrepreneurship curricula.

Text (1)
Actions (2)
07/02/2020
Read twice and referred to the Committee on Commerce, Science, and Transportation.
07/02/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:45:39 PM