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Bill117th CongressFiled Jun 15, 2021Commerce
S. 2068

Minority Business Development Act of 2021

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What it doesSummary reported to senate (Dec 17, 2021)

Minority Business Development Act of 2021

This bill permanently authorizes the Minority Business Development Agency (MBDA), requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs), and establishes the Minority Business Enterprises Advisory Council to advise and assist the MBDA.

Specifically, the bill requires the MBDA to (1) provide assistance to MBEs in domestic and foreign markets by making available specified resources, (2) promote the position of MBEs in local economies, and (3) collect data on the causes of MBE success or failure and research how economic conditions affect the development of MBEs.

The bill establishes formal processes for the MBDA Business Center Program and the MBDA Rural Business Center Program through which business centers provide programs and services to support MBEs.

The bill also establishes new initiatives to promote economic resiliency for minority businesses, including (1) an annual forum to review problems and programs relating to capital formation by MBEs, (2) a study and report on alternative financing solutions for MBEs, and (3) entrepreneurship education grants for certain institutions of higher education to develop and implement entrepreneurship curricula.

Further, the bill establishes grants for certain nonprofit organizations that provide services to MBEs as one of their primary activities.

The bill authorizes the MBDA to coordinate federal government programs and operations that affect the establishment, preservation, and strengthening of socially or economically disadvantaged businesses.

The Government Accountability Office must report on the programs carried out pursuant to the bill.

What just happenedDec 17, 2021

Placed on Senate Legislative Calendar under General Orders. Calendar No. 228.

Who’s behind it

Sen. Cardin, Benjamin L. [D-MD](D-MD)Sponsor
5 cosponsors2 D3 R
Read on Congress.gov
5cosponsors1committees6actions2related bills29subjects
  1. Dec 17, 2021Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 228.

  2. Dec 17, 2021Committee

    Committee on Commerce, Science, and Transportation. Reported by Senator Cantwell with an amendment in the nature of a substitute. Without written report.

    Commerce, Science, and Transportation Committee
  3. Dec 17, 2021Committee14000

    Committee on Commerce, Science, and Transportation. Reported by Senator Cantwell with an amendment in the nature of a substitute. Without written report.

    Commerce, Science, and Transportation Committee
  4. Aug 4, 2021Committee

    Committee on Commerce, Science, and Transportation. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Commerce, Science, and Transportation Committee
  5. Jun 15, 2021IntroReferral

    Read twice and referred to the Committee on Commerce, Science, and Transportation.

    Commerce, Science, and Transportation Committee
  6. Jun 15, 2021IntroReferral10000

    Introduced in Senate

Reported to SenateDec 17, 202125

Minority Business Development Act of 2021

This bill permanently authorizes the Minority Business Development Agency (MBDA), requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs), and establishes the Minority Business Enterprises Advisory Council to advise and assist the MBDA.

Specifically, the bill requires the MBDA to (1) provide assistance to MBEs in domestic and foreign markets by making available specified resources, (2) promote the position of MBEs in local economies, and (3) collect data on the causes of MBE success or failure and research how economic conditions affect the development of MBEs.

The bill establishes formal processes for the MBDA Business Center Program and the MBDA Rural Business Center Program through which business centers provide programs and services to support MBEs.

The bill also establishes new initiatives to promote economic resiliency for minority businesses, including (1) an annual forum to review problems and programs relating to capital formation by MBEs, (2) a study and report on alternative financing solutions for MBEs, and (3) entrepreneurship education grants for certain institutions of higher education to develop and implement entrepreneurship curricula.

Further, the bill establishes grants for certain nonprofit organizations that provide services to MBEs as one of their primary activities.

The bill authorizes the MBDA to coordinate federal government programs and operations that affect the establishment, preservation, and strengthening of socially or economically disadvantaged businesses.

The Government Accountability Office must report on the programs carried out pursuant to the bill.

Introduced in SenateJun 15, 2021

Minority Business Development Act of 2021

This bill permanently authorizes the Minority Business Development Agency (MBDA), requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs), and establishes the Minority Business Enterprises Advisory Council to advise and assist the MBDA.

Specifically, the bill requires the MBDA to (1) provide assistance to MBEs in domestic and foreign markets by making available specified resources, (2) promote the position of MBEs in local economies, and (3) collect data on the causes of MBE success or failure and research how economic conditions affect the development of MBEs.

The bill establishes formal processes for the MBDA Business Center Program and the MBDA Rural Business Center Program through which business centers provide programs and services to support MBEs.

The bill also establishes new initiatives to promote economic resiliency for minority businesses, including (1) an annual forum to review problems and programs relating to capital formation by MBEs, (2) a study and report on alternative financing solutions for MBEs, and (3) entrepreneurship education grants for certain institutions of higher education to develop and implement entrepreneurship curricula.

Further, the bill establishes grants for certain nonprofit organizations that provide services to MBEs as one of their primary activities.

The bill authorizes the MBDA to coordinate federal government programs and operations that affect the establishment, preservation, and strengthening of socially or economically disadvantaged businesses.

The Government Accountability Office must report on the programs carried out pursuant to the bill.

Minority Business Development Act of 2021 — Informed