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HR 4931 116th Congress House Commerce Business investment and capital Congressional oversight Economic development Performance measurement

Incubator Act of 2019

Introduced: October 30, 2019 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 31, 2019
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Oct 30, 2019
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, 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.
Oct 30, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Incubator Act of 2019

This bill requires the Department of Commerce to establish a grant program to provide financial assistance to support the growth and success of business incubators.

Commerce shall (1) award such grants competitively; (2) take into account factors such as population, unemployment level, and business creation metrics, as well as giving priority to applicants located in opportunity zones (low-income communities); and (3) award no more than $5 million to applicants in a single state and no more than $500,000 to a single grantee during a fiscal year. An entity receiving a grant may use the funds for operating expenses but may not use the funds for capital expenditures.

What's happening now October 31, 2019

Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Democratic 1