To strengthen entrepreneurial education, and for other purposes.

Summary: Today's Entrepreneurs are America's Mentors Act or TEAM Act - Amends the Small Business Act to establish in the Small Business Administration (SBA) an Office of Entrepreneurial Education, headed by a Director, to develop and provide innovative entrepreneurial information, education, and resources to promote prospective entrepreneurs and successful small businesses. Directs the SBA's Associate Administrator for Entrepreneurial Development to establish a program of grants to nonprofit organizations to provide technical assistance to primary and secondary schools for the development and implementation of curricula and mentoring programs designed to promote entrepreneurship. Requires the Director to submit to the congressional small business committees best practices of U.S. entrepreneurial education and training programs.

Authorizes a small business development center to apply for an SBA grant to carry out a university and college entrepreneurial education program.

Directs the SBA's Associate Administrator for Entrepreneurial Development to establish an entrepreneurial innovators partnership program of grants to nonprofit organizations and specified SBA entities to carry out innovative programs that expand entrepreneurship, improve partnerships between nonprofit organizations and entrepreneurs, and promote job creation by small businesses.

Directs the Administrator to establish a program to host regional competitions and a national conference to address regional challenges through entrepreneurial research and business planning.

Requires the Administrator to recommend to Congress legislation for establishing programs to forgive or defer student loan payments in order to assist youth entrepreneurship by making capital available for business formation.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Today's Entrepreneurs are America's 
Mentors Act'' or the ``TEAM Act''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the terms ``Administration'' and ``Administrator'' mean 
        the Small Business Administration and the Administrator 
        thereof, respectively; and
            (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).

SEC. 3. OFFICE OF ENTREPRENEURIAL EDUCATION.

    (a) In General.--The Small Business Act (15 U.S.C. 631 et seq.) is 
amended--
            (1) by redesignating section 45 (15 U.S.C. 631 note) as 
        section 47; and
            (2) by inserting after section 44 (15 U.S.C. 657q) the 
        following:

``SEC. 45. ENTREPRENEURIAL EDUCATION.

    ``(a) Office of Entrepreneurial Education.--
            ``(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.
            ``(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.
            ``(3) Duties.--The Director of the Office of 
        Entrepreneurial Education shall--
                    ``(A) manage the online courses, online 
                publications, and other online resources provided by 
                the Administration to entrepreneurs and small business 
                concerns;
                    ``(B) manage the youth entrepreneurship programs of 
                the Administration, including--
                            ``(i) online resources for youth 
                        entrepreneurs; and
                            ``(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;
                    ``(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; and
                    ``(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.
    ``(b) National Primary and Secondary School Entrepreneurial 
Education Program.--
            ``(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.
            ``(2) Application.--A nonprofit organization desiring a 
        grant under this subsection shall submit to the Associate 
        Administrator an application that contains--
                    ``(A) a description of the goals of the project to 
                be funded using the grant;
                    ``(B) a list of any partners that plan to 
                participate in the project to be funded using the 
                grant; and
                    ``(C) any other information that the Associate 
                Administrator determines is necessary.
            ``(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--
                    ``(A) the individuals assisted using the grant;
                    ``(B) the number of jobs created or saved through 
                the use of the grant; and
                    ``(C) any other information concerning the use of 
                the grant that the Associate Administrator may require.
            ``(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.''.
    (b) Report on Best Practices of Entrepreneurial Education and 
Training Programs.--
            (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.
            (2) Contents.--The report submitted under paragraph (1) 
        shall include--
                    (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; and
                    (B) a summary of entrepreneurial education and 
                training programs carried out by--
                            (i) the Federal Government;
                            (ii) State and local governments; and
                            (iii) nonprofit organizations and private 
                        sector groups.

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:
    ``(o) University and College Entrepreneurial Education Program.--
            ``(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.
            ``(2) Elements of program.--A program carried out using a 
        grant under this subsection may include--
                    ``(A) connecting university and college students 
                with small business concerns that are clients of a 
                small business development center;
                    ``(B) providing assistance to faculty members of 
                universities and colleges with respect to 
                entrepreneurial education programs for students of the 
                universities and colleges; and
                    ``(C) improving university and college business 
                curricula or developing university and college 
                curricula concerning entrepreneurial education.
            ``(3) Funding.--The Administration may make grants under 
        this subsection subject to amounts provided in advance in 
        appropriations Acts.''.

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:

``SEC. 46. ENTREPRENEURIAL INNOVATORS PARTNERSHIP PROGRAM.

    ``(a) Definitions.--In this section--
            ``(1) the term `Associate Administrator' means the 
        Associate Administrator for Entrepreneurial Development; and
            ``(2) the term `eligible entity'--
                    ``(A) means a nonprofit organization; and
                    ``(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.
    ``(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.
    ``(c) Program Activities.--A grant under this section may be used 
to develop or expand--
            ``(1) a program that promotes entrepreneurship among youth 
        or veterans;
            ``(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;
            ``(3) a program that provides entrepreneurial education to 
        professional services providers, including attorneys and 
        accountants; or
            ``(4) any other program that the Associate Administrator 
        determines is appropriate.
    ``(d) Terms and Conditions.--
            ``(1) Amount.--The amount of a grant under this section may 
        not exceed $250,000.
            ``(2) Federal share.--
                    ``(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.
                    ``(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--
                            ``(i) assist a program to become self-
                        sustaining; or
                            ``(ii) create not fewer than 100 new jobs.
    ``(e) Applications.--
            ``(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.
            ``(2) Priority.--In awarding grants the Associate 
        Administrator shall give priority to an application that--
                    ``(A) includes a proposal for an innovative or 
                novel approach to entrepreneurial education;
                    ``(B) is made by an eligible entity with 
                demonstrated success in--
                            ``(i) creating jobs;
                            ``(ii) increasing the size of small 
                        business concerns; or
                            ``(iii) working with small business 
                        concerns; or
                    ``(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.
    ``(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.''.

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.
    (b) Program Requirements.--
            (1) Regional offices.--The regional administrator of each 
        regional office of the Administration shall--
                    (A) identify a prominent public-private issue that 
                challenges a broad range of individuals in the region;
                    (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);
                    (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;
                    (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); and
                    (E) submit to the Administrator a report that 
                contains the research or business plans selected under 
                subparagraph (D).
            (2) Conference.--
                    (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.
                    (B) Panel.--
                            (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.
                            (ii) Members.--The Administrator shall 
                        designate as a member of the panel under clause 
                        (i)--
                                    (I) 1 employee of the principal 
                                office of the Administration; and
                                    (II) 1 employee from each of the 
                                regional offices of the Administration.
            (3) Grant.--
                    (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).
                    (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.
            (4) Authorization of appropriations.--There are authorized 
        to be appropriated to the Administrator $750,000 to carry out 
        this section.

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--
            (1) to forgive student loans in a manner that assists youth 
        entrepreneurship by making available capital for business 
        formation; and
            (2) to defer student loan repayments in a manner that 
        assists youth entrepreneurship by making available capital for 
        business formation.