S 2850
113th Congress
Senate
Commerce
Business investment and capital
Government information and archives
Small business
SOAR Act
Introduced: September 17, 2014
Introduced by:
Booker, Cory A.
Democratic
· New Jersey
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 17, 2014
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sep 17, 2014
Sponsor introductory remarks on measure. (CR S5700-5701)
Sep 17, 2014
Introduced in Senate
Plain-English summary
Startup Opportunity Accelerator Act of 2014 or the SOAR Act - Amends the Small Business Act to require the Administrator of the Small Business Administration (SBA) to develop a program to award cash prizes of up to $50,000 to organizations in the United States whose primary purpose is to support new small businesses that have been in operation for five years or less.
Authorizes the use of a prize for construction costs, space acquisition, and programmatic purposes. Prohibits its use for capital or professional services to new small businesses.
Requires a prize recipient to provide assistance to at least 10 new small businesses per year.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1