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Microenterprise and Youth Entrepreneurship Development Act of 2011

Introduced: August 5, 2011 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Oct 4, 2011

Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

Sep 6, 2011

Referred to the Committee on Financial Services, and in addition to the Committees on Small Business, and Education and the Workforce, 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.

Aug 5, 2011

Introduced in House

Plain-English summary Congressional Research Service

Microenterprise and Youth Entrepreneurship Development Act of 2011 - Amends the Riegle Community Development and Regulatory Improvement Act of 1994 for purposes of the microenterprise technical assistance and capacity building grant program to include in the definition of "disadvantaged entrepreneur" a microentrepreneur operating or intending to operate a business in an investment area.

Increases to 60% (currently, 50%) the minimum percentage of such grants required to be used to benefit very low-income persons, including those residing on Indian reservations.

Requires the Administrator of the Small Business Administration (SBA) to consider the impact of the 2007-2009 economic crisis on an applicant's geographic area when deciding whether to reduce or eliminate matching requirements for applicants with severe constraints on available funding sources.

Directs the Administrator to establish an SBA Microenterprise Coordinator position.

Requires the Administrator to establish an Office of Youth Entrepreneurship and appoint a Director to carry out: (1) the youth entrepreneur technical assistance grant program to make grants to assist entities, including nonprofit microenterprise development organizations, to provide individuals under 25 years of age with technical assistance related to entrepreneurship; and (2) the youth entrepreneurship curriculum grant program to make grants to applying local educational agencies of states and federally recognized Indian tribes.

What's happening now October 4, 2011

Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

Committees of jurisdiction 4