HR 5944 IHCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

2d SessionCommentsClose CommentsPermalink

H. R. 5944CommentsClose CommentsPermalink

To strengthen entrepreneurial education, and for other purposes.CommentsClose CommentsPermalink

IN THE HOUSE OF REPRESENTATIVESCommentsClose CommentsPermalink

June 8, 2012CommentsClose CommentsPermalink

Mr. RICHMOND introduced the following bill; which was referred to the Committee on Small Business, and in addition to the Committee on 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 concernedCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To strengthen entrepreneurial education, and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Today’s Entrepreneurs are America’s Mentors Act’ or the ‘TEAM Act’.CommentsClose CommentsPermalink

SEC. 2. DEFINITIONS.

In this Act--CommentsClose CommentsPermalink





(1) the terms ‘Administration’ and ‘Administrator’ mean the Small Business Administration and the Administrator thereof, respectively; andCommentsClose CommentsPermalink





(2) the term ‘small business concern’ has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632).CommentsClose CommentsPermalink

SEC. 3. OFFICE OF ENTREPRENEURIAL EDUCATION.

(a) In General- The Small Business Act (15 U.S.C. 631 et seq.) is amended--CommentsClose CommentsPermalink





(1) by redesignating section 45 (15 U.S.C. 631 note) as section 47; andCommentsClose CommentsPermalink





(2) by inserting after section 44 (15 U.S.C. 657q) the following:CommentsClose CommentsPermalink

‘SEC. 45. ENTREPRENEURIAL EDUCATION.

‘(a) Office of Entrepreneurial Education-CommentsClose CommentsPermalink





‘(1) IN GENERAL- There is in the Administration an Office of Entrepreneurial Education, which shall develop and provide innovative entrepreneurial information, education, and resources, to promote prospective entrepreneurs and successful small business concerns.CommentsClose CommentsPermalink





‘(2) DIRECTOR- The head of the Office of Entrepreneurial Education is the Director of the Office of Entrepreneurial Education, who shall report to the Associate Administrator for Entrepreneurial Development.CommentsClose CommentsPermalink





‘(3) DUTIES- The Director of the Office of Entrepreneurial Education shall--CommentsClose CommentsPermalink





‘(A) manage the online courses, online publications, and other online resources provided by the Administration to entrepreneurs and small business concerns;CommentsClose CommentsPermalink





‘(B) manage the youth entrepreneurship programs of the Administration, including--CommentsClose CommentsPermalink





‘(i) online resources for youth entrepreneurs; andCommentsClose CommentsPermalink





‘(ii) coordination and outreach with entrepreneurial development service providers that provide counseling and training to youth entrepreneurs desiring to start or expand small business concerns;CommentsClose CommentsPermalink





‘(C) coordinate with nonprofit and other private sector partners to share educational materials on money management and financial literacy for entrepreneurs and small business concerns; andCommentsClose CommentsPermalink





‘(D) provide assistance and courtesy services to individuals and foreign dignitaries visiting the United States who are interested in issues relating to entrepreneurs and small business concerns.CommentsClose CommentsPermalink





‘(b) National Primary and Secondary School Entrepreneurial Education Program-CommentsClose CommentsPermalink





‘(1) IN GENERAL- Not later than 1 year after the date of enactment of the Today’s Entrepreneurs are America’s Mentors Act, the Associate Administrator for Entrepreneurial Development (referred to in this subsection as the ‘Associate Administrator’) shall establish a program under which the Associate Administrator may make grants to nonprofit organizations, including small business development centers, women’s business centers, chapters of the Service Corps of Retired Executives, and other resource partners of the Administration, to provide technical assistance to primary and secondary schools for the development and implementation of curricula and mentoring programs designed to promote entrepreneurship.CommentsClose CommentsPermalink





‘(2) APPLICATION- A nonprofit organization desiring a grant under this subsection shall submit to the Associate Administrator an application that contains--CommentsClose CommentsPermalink





‘(A) a description of the goals of the project to be funded using the grant;CommentsClose CommentsPermalink





‘(B) a list of any partners that plan to participate in the project to be funded using the grant; andCommentsClose CommentsPermalink





‘(C) any other information that the Associate Administrator determines is necessary.CommentsClose CommentsPermalink





‘(3) REPORT- Not later than 1 year after the date on which a nonprofit organization receives a grant under this subsection, the nonprofit organization shall submit to the Associate Administrator a report that describes--CommentsClose CommentsPermalink





‘(A) the individuals assisted using the grant;CommentsClose CommentsPermalink





‘(B) the number of jobs created or saved through the use of the grant; andCommentsClose CommentsPermalink





‘(C) any other information concerning the use of the grant that the Associate Administrator may require.CommentsClose CommentsPermalink





‘(4) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to carry out this subsection $3,000,000 for each of fiscal years 2013, 2014, and 2015.’.CommentsClose CommentsPermalink





(b) Report on Best Practices of Entrepreneurial Education and Training Programs-CommentsClose CommentsPermalink





(1) REPORT REQUIRED- Not later than 180 days after the date of enactment of this Act, the Director of the Office of Entrepreneurial Education shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that describes best practices of entrepreneurial education and training programs throughout the United States.CommentsClose CommentsPermalink





(2) CONTENTS- The report submitted under paragraph (1) shall include--CommentsClose CommentsPermalink





(A) a description of any programs that the Director of the Office of Entrepreneurial Education determines are exemplary, including national programs, regional programs, State programs, and local programs; andCommentsClose CommentsPermalink





(B) a summary of entrepreneurial education and training programs carried out by--CommentsClose CommentsPermalink





(i) the Federal Government;CommentsClose CommentsPermalink





(ii) State and local governments; andCommentsClose CommentsPermalink





(iii) nonprofit organizations and private sector groups.CommentsClose CommentsPermalink

SEC. 4. UNIVERSITY AND COLLEGE ENTREPRENEURIAL EDUCATION PROGRAM.

Section 21 of the Small Business Act (15 U.S.C. 648) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(o) University and College Entrepreneurial Education Program-CommentsClose CommentsPermalink





‘(1) IN GENERAL- A small business development center may apply for a grant under this subsection to carry out a university and college entrepreneurial education program.CommentsClose CommentsPermalink





‘(2) ELEMENTS OF PROGRAM- A program carried out using a grant under this subsection may include--CommentsClose CommentsPermalink





‘(A) connecting university and college students with small business concerns that are clients of a small business development center;CommentsClose CommentsPermalink





‘(B) providing assistance to faculty members of universities and colleges with respect to entrepreneurial education programs for students of the universities and colleges; andCommentsClose CommentsPermalink





‘(C) improving university and college business curricula or developing university and college curricula concerning entrepreneurial education.CommentsClose CommentsPermalink





‘(3) FUNDING- The Administration may make grants under this subsection subject to amounts provided in advance in appropriations Acts.’.CommentsClose CommentsPermalink

SEC. 5. ENTREPRENEURIAL INNOVATORS PARTNERSHIP PROGRAM.

The Small Business Act (15 U.S.C. 631 et seq.) is amended by inserting after section 45, as added by this Act, the following:CommentsClose CommentsPermalink

‘SEC. 46. ENTREPRENEURIAL INNOVATORS PARTNERSHIP PROGRAM.

‘(a) Definitions- In this section--CommentsClose CommentsPermalink





‘(1) the term ‘Associate Administrator’ means the Associate Administrator for Entrepreneurial Development; andCommentsClose CommentsPermalink





‘(2) the term ‘eligible entity’--CommentsClose CommentsPermalink





‘(A) means a nonprofit organization; andCommentsClose CommentsPermalink





‘(B) includes a small business development center, a women’s business center, a chapter of the Service Corps of Retired Executives, or any other nonprofit resource partner of the Administration.CommentsClose CommentsPermalink





‘(b) Program Established- The Associate Administrator shall establish an entrepreneurial innovators partnership program under which the Associate Administrator shall make grants to eligible entities to carry out innovative programs that expand entrepreneurship, improve partnerships between nonprofit organizations and entrepreneurs, and promote job creation by small business concerns.CommentsClose CommentsPermalink





‘(c) Program Activities- A grant under this section may be used to develop or expand--CommentsClose CommentsPermalink





‘(1) a program that promotes entrepreneurship among youth or veterans;CommentsClose CommentsPermalink





‘(2) a program under which students pursing a Masters of Business Administration degree provide free technical assistance, counseling, or other assistance to small business concerns;CommentsClose CommentsPermalink





‘(3) a program that provides entrepreneurial education to professional services providers, including attorneys and accountants; orCommentsClose CommentsPermalink





‘(4) any other program that the Associate Administrator determines is appropriate.CommentsClose CommentsPermalink





‘(d) Terms and Conditions-CommentsClose CommentsPermalink





‘(1) AMOUNT- The amount of a grant under this section may not exceed $250,000.CommentsClose CommentsPermalink





‘(2) FEDERAL SHARE-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Except as provided in subparagraph (B), the Federal share of the cost of a project carried out using a grant under this section may not exceed 50 percent.CommentsClose CommentsPermalink





‘(B) EXCEPTION- The Federal share of the cost of a project carried out using a grant under this section may exceed 50 percent if the Associate Administrator determines that the project would--CommentsClose CommentsPermalink





‘(i) assist a program to become self-sustaining; orCommentsClose CommentsPermalink





‘(ii) create not fewer than 100 new jobs.CommentsClose CommentsPermalink





‘(e) Applications-CommentsClose CommentsPermalink





‘(1) SUBMISSION- An eligible entity that desires a grant under this section shall submit an application to the Associate Administrator at such time and in such form as the Associate Administrator shall determine.CommentsClose CommentsPermalink





‘(2) PRIORITY- In awarding grants the Associate Administrator shall give priority to an application that--CommentsClose CommentsPermalink





‘(A) includes a proposal for an innovative or novel approach to entrepreneurial education;CommentsClose CommentsPermalink





‘(B) is made by an eligible entity with demonstrated success in--CommentsClose CommentsPermalink





‘(i) creating jobs;CommentsClose CommentsPermalink





‘(ii) increasing the size of small business concerns; orCommentsClose CommentsPermalink





‘(iii) working with small business concerns; orCommentsClose CommentsPermalink





‘(C) includes a proposal for a program to be carried out through a partnership between nonprofit organizations, resource partners of the Administration, and educational institutions.CommentsClose CommentsPermalink





‘(f) Authorization of Appropriations- There are authorized to be appropriated to carry out this section $3,000,000 for each of fiscal years 2013, 2014, and 2015.’.CommentsClose CommentsPermalink

SEC. 6. REGIONAL ENTREPRENEURIAL COMPETITIONS.

(a) In General- The Administrator, acting through the Associate Administrator for Field Operations, shall establish a program to host regional competitions and a national conference to address regional challenges through entrepreneurial research and business planning.CommentsClose CommentsPermalink





(b) Program Requirements-CommentsClose CommentsPermalink





(1) REGIONAL OFFICES- The regional administrator of each regional office of the Administration shall--CommentsClose CommentsPermalink





(A) identify a prominent public-private issue that challenges a broad range of individuals in the region;CommentsClose CommentsPermalink





(B) sponsor a single regional competition among local small business concerns, inventors, and entrepreneurs under which persons or groups of persons submit research and business plans to address the issue identified under subparagraph (A);CommentsClose CommentsPermalink





(C) provide outreach to universities, colleges, business communities, industry leaders and organizations, and nonprofit organizations to promote the competition and to request proposals for research and business plans;CommentsClose CommentsPermalink





(D) in coordination with the Director of the Office of Entrepreneurship Education, select the 3 research or business plans that best address the issue identified under subparagraph (A); andCommentsClose CommentsPermalink





(E) submit to the Administrator a report that contains the research or business plans selected under subparagraph (D).CommentsClose CommentsPermalink





(2) CONFERENCE-CommentsClose CommentsPermalink





(A) IN GENERAL- The Administrator, acting through the Associate Administrator for Field Operations, shall organize a single national conference for the presentation of the research and business plans selected under paragraph (1)(D) by the regional administrators.CommentsClose CommentsPermalink





(B) PANEL-CommentsClose CommentsPermalink





(i) IN GENERAL- The Administrator shall designate 11 employees of the Administration to serve on a panel that shall select, from among the research and business plans presented at the conference, 1 plan from each region that best addresses the issue identified under paragraph (1)(A) for that region.CommentsClose CommentsPermalink





(ii) MEMBERS- The Administrator shall designate as a member of the panel under clause (i)--CommentsClose CommentsPermalink





(I) 1 employee of the principal office of the Administration; andCommentsClose CommentsPermalink





(II) 1 employee from each of the regional offices of the Administration.CommentsClose CommentsPermalink





(3) GRANT-CommentsClose CommentsPermalink





(A) IN GENERAL- The Administrator shall award a grant of $50,000 to each person or group of persons who submitted a plan selected under paragraph (2)(B).CommentsClose CommentsPermalink





(B) REPORT- Not later than 1 year after the date on which the Administrator awards a grant under subparagraph (A), the recipient of the grant shall submit to the Administrator a report on the use of the grant.CommentsClose CommentsPermalink





(4) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to the Administrator $750,000 to carry out this section.CommentsClose CommentsPermalink

SEC. 7. STUDY ON ENTREPRENEURIAL DEFERMENT OF STUDENT LOANS.

Not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with the Secretary of Education, shall submit to Congress a report that includes detailed recommendations for legislation establishing a program--CommentsClose CommentsPermalink





(1) to forgive student loans in a manner that assists youth entrepreneurship by making available capital for business formation; andCommentsClose CommentsPermalink





(2) to defer student loan repayments in a manner that assists youth entrepreneurship by making available capital for business formation.CommentsClose CommentsPermalink