To provide priority consideration to local educational agencies that establish high quality entrepreneurship education programs for secondary schools, and for other purposes.

Summary: Learn to Earn Act of 2011 - Directs the Secretary of Education to designate a local educational agency (LEA) as an entrepreneurship community if it is carrying out a high-quality entrepreneurship education program for secondary school students.

Requires those programs to include: (1) high standards in mathematics and related content areas, such as economics; (2) curricula delivered by high-quality teachers who complete entrepreneurship training and receive ongoing professional development; (3) hands-on activities and project-based work; (4) financial literacy education; and (5) interaction between students, teachers, and members of the business community.

Directs the Secretary, to the extent practicable, to give priority to entrepreneurship communities when awarding competitive grants to LEAs under the American Recovery and Reinvestment Act of 2009 and the Elementary and Secondary Education Act of 1965.

Directs the Administrator of the Small Business Administration (SBA) and the Secretary of Agriculture (USDA), the Secretary of Commerce, and the Secretary of Energy (DOE) to give priority, to the extent practicable, to an entrepreneurship partner entity when awarding competitive grants, loans, or loan guarantees related to small business, workforce, community, or economic development.

Defines an "entrepreneurship partner entity" as a local business, community organization, SBA office, chamber of commerce, or state, local, or tribal entity that enters into an agreement with an entrepreneurship community and specializes in entrepreneurship, small business development, or workforce development.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Learn to Earn Act of 2011''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) One of America's strengths has always been that it is a 
        great place to start and grow a business.
            (2) According to the 2010 Small Business Economy: A Report 
        to the President, ``small businesses--those with fewer than 500 
        employees--are generally the creators of most net new jobs, as 
        well as the employers of about half of the nation's private 
        sector work force, and the providers of a significant share of 
        innovations, as well as half of the nonfarm, private real gross 
        domestic product.''.
            (3) The April 2009 World Economic Forum Report entitled 
        ``Educating the Next Wave of Entrepreneurs'' recommends that 
        countries transform their educational systems to integrate 
        entrepreneurship education at all levels and across curricula 
        in recognition that ``entrepreneurship education is essential 
        for developing the human capital necessary for the society of 
        the future.''.
            (4) ``Educating the Next Wave of Entrepreneurs'' argues 
        that the skills and knowledge learned through entrepreneurship 
        education--such as problem solving, economic principles, and 
        negotiation--are critical to success in the 21st century global 
        economy, in which competition is fierce and markets and jobs 
        evolve at a rapid pace.
            (5) Entrepreneurship education models incorporate lessons 
        in financial literacy, economics, and other business topics 
        such as marketing and accounting which can lead to increased 
        proficiency in mathematics and English Language Arts.
            (6) When young people learn to see opportunity amid 
        obstacles, to set and achieve high personal goals, and to apply 
        knowledge and skills to real-world scenarios--in short, to 
        think and act like entrepreneurs--they are armed with tools 
        that will increase their success in college and beyond.

SEC. 3. DEFINITIONS.

    In this Act:
     (a) ESEA Terms.--The terms ``local educational agency'', ``highly 
qualified'', and ``secondary school'' have the meanings given such 
terms in section 9101 of the Elementary and Secondary Education Act of 
1965 (20 U.S.C. 7801).
    (b) Entrepreneurship Partner Entity.--The term ``entrepreneurship 
partner entity'' means an entity such as a local business, a local 
community organization, a local municipality, a local Small Business 
Administration office, a local Chamber of Commerce, or another State, 
local, or tribal government entity that specializes in 
entrepreneurship, small business development, or workforce development 
that has entered into an agreement with a local educational agency 
designated an entrepreneurship community under section 4(a), as 
determined by the Secretary of Education.
    (c) High-Quality Entrepreneurship Education Program.--The term 
``high-quality entrepreneurship education program'' means a program 
that teaches entrepreneurial skills and includes the following:
            (1) High standards in mathematics and related content areas 
        such as economics.
            (2) Curriculum delivered by high-quality teachers who 
        complete entrepreneurship-specific training and receive ongoing 
        professional development among a community of peers.
            (3) Hands-on activities and project-based work, such as 
        negotiation simulations and student business plans, designed to 
        bring abstract concepts to life and stimulate a wide variety of 
        local educational agency learning preferences.
            (4) A financial literacy component to provide students with 
        the skills and knowledge needed to make informed personal 
        finance decisions.
            (5) Interactions with entrepreneurs and small business 
        owners who inspire students and challenge them to set high 
        personal goals.
            (6) Partnerships between educators and business community 
        members who volunteer as guest speakers, guest teachers, field 
        trip hosts, mentors, business plan competition judges, or in 
        other roles.

SEC. 4. DESIGNATION OF ENTREPRENEURSHIP COMMUNITIES.

    (a) Designation.--Not later than 90 days after receiving an 
application from a local education agency, the Secretary of Education 
shall designate such local educational agency as an entrepreneurship 
community if the Secretary determines that the local educational agency 
satisfies the requirements described in subsection (b).
    (b) Determination.--A local educational agency satisfies the 
requirements of this subsection if the local educational agency is 
carrying out a high-quality entrepreneurship education program for 
secondary school students.
    (c) Application.--The Secretary shall establish an application 
process for the purpose of designating local educational agencies as 
entrepreneurship communities under subsection (a). Such application 
shall include a description of the proposed high-quality 
entrepreneurship education program and any proposed entrepreneurship 
partner entities.

SEC. 5. PREFERENCES FOR ENTREPRENEURSHIP COMMUNITIES.

    In awarding competitive grants to local educational agencies under 
title XIV of the American Recovery and Reinvestment Act of 2009 (Public 
Law 111-5) and the Elementary and Secondary Education Act of 1965 (20 
U.S.C. 6301 et seq.) the Secretary of Education shall, to the extent 
practicable, give priority consideration to each local educational 
agency that is designated an entrepreneurship community under section 
4(a).

SEC. 6. PREFERENCES FOR ENTREPRENEURSHIP PARTNER ENTITIES.

    In making competitive grants, loans, or loan guarantees related to 
small business development, workforce development, community 
development, or economic development the Administrator of the Small 
Business Administration, the Secretary of Agriculture, the Secretary of 
Commerce, and the Secretary of Energy shall give priority 
consideration, to the extent practicable, to a entrepreneurship partner 
entity.