II 

117TH CONGRESS 

1ST SESSION S. 63 

To establish an Office of Emerging Markets within the Small Business Administration that will strengthen the development of small business concerns in emerging markets, including those owned by women, minorities, 

veterans, and those located in rural areas, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 27, 2021 

Mr. CARDIN (for himself, Ms. DUCKWORTH, and Ms. HIRONO) introduced the 

following bill; which was read twice and referred to the Committee on 

Small Business and Entrepreneurship 

A BILL 

To establish an Office of Emerging Markets within the Small 

Business Administration that will strengthen the development of small business concerns in emerging markets, 

including those owned by women, minorities, veterans, 

and those located in rural areas, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Unlocking Opportuni5 ties in Emerging Markets Act of 2021’’. 


kjohnson on DSK79L0C42PROD with BILLS
2 

•S 63 IS

1 SEC. 2. OFFICE OF EMERGING MARKETS. 

2 Section 7 of the Small Business Act (15 U.S.C. 636) 

3 is amended by adding at the end the following: 

4 ‘‘(o) OFFICE OF EMERGING MARKETS.— 

5 ‘‘(1) DEFINITIONS.—In this subsection— 

6 ‘‘(A) the term ‘Associate Administrator’ 

7 means the Associate Administrator of the Office 

8 of Capital Access of the Administration; 

9 ‘‘(B) the term ‘Director’ means the Direc10 tor of the Office of Emerging Markets; 

11 ‘‘(C) the term ‘microloan program’ means 

12 the program described in subsection (m); 

13 ‘‘(D) the term ‘Reservist’ means a member 

14 of a reserve component of the Armed Forces 

15 named in section 10101 of title 10, United 

16 States Code; 

17 ‘‘(E) the term ‘rural area’ has the meaning 

18 given the term in subsection (m)(11); 

19 ‘‘(F) the term ‘service-connected’ has the 

20 meaning given the term in section 101 of title 

21 38, United States Code; and 

22 ‘‘(G) the term ‘small business concern in 

23 an emerging market’ means a small business 

24 concern— 

25 ‘‘(i) that is located in— 


kjohnson on DSK79L0C42PROD with BILLS
3 

•S 63 IS

1 ‘‘(I) a low-income or moderate-in2 come area for purposes of the Com3 munity Development Block Grant 

4 Program under title I of the Housing 

5 and Community Development Act of 

6 1974 (42 U.S.C. 5301 et seq.); 

7 ‘‘(II) a HUBZone, as that term 

8 is defined in section 31(b); 

9 ‘‘(III) a community that has been 

10 designated as an empowerment zone 

11 or an enterprise community under 

12 section 1391 of the Internal Revenue 

13 Code of 1986; 

14 ‘‘(IV) a community that has been 

15 designated as a Promise Zone by the 

16 Secretary of Housing and Urban De17 velopment; 

18 ‘‘(V) a community that has been 

19 designated as a qualified opportunity 

20 zone under section 1400Z–1 of the In21 ternal Revenue Code of 1986; or 

22 ‘‘(VI) a rural area; 

23 ‘‘(ii) that has more than 50 percent of 

24 employees residing in a low- or moderate25 income community; 


kjohnson on DSK79L0C42PROD with BILLS
4 

•S 63 IS

1 ‘‘(iii) that is growing, newly estab2 lished, or a startup, as those terms are 

3 used in subsection (m); 

4 ‘‘(iv) owned and controlled by socially 

5 and economically disadvantaged individ6 uals, including Black Americans, Hispanic 

7 Americans, Native Americans, Asian Pa8 cific Americans, and other minorities; 

9 ‘‘(v) owned and controlled by women; 

10 ‘‘(vi) owned and controlled by vet11 erans; 

12 ‘‘(vii) owned and controlled by service13 disabled veterans; or 

14 ‘‘(viii) not less than 51 percent owned 

15 and controlled by one or more— 

16 ‘‘(I) members of the Armed 

17 Forces participating in the Transition 

18 Assistance Program of the Depart19 ment of Defense; 

20 ‘‘(II) Reservists; 

21 ‘‘(III) spouses of veterans, mem22 bers of the Armed Forces, or Reserv23 ists; 

24 ‘‘(IV) surviving spouses of vet25 erans who died on active duty or as a 


kjohnson on DSK79L0C42PROD with BILLS
5 

•S 63 IS

1 result of a service-connected disability; 

2 or 

3 ‘‘(V) individuals with a disability, 

4 as defined in section 3 of the Ameri5 cans with Disabilities Act of 1990 (42 

6 U.S.C. 12102). 

7 ‘‘(2) ESTABLISHMENT.—There is established 

8 within the Administration the Office of Emerging 

9 Markets, which shall be— 

10 ‘‘(A) under the general management and 

11 oversight of the Administration; and 

12 ‘‘(B) responsible for the planning, coordi13 nation, implementation, evaluation, and im14 provement of the efforts of the Administrator to 

15 enhance the economic well-being of small busi16 ness concerns in an emerging market. 

17 ‘‘(3) DIRECTOR.— 

18 ‘‘(A) IN GENERAL.—Not later than 180 

19 days after the date of enactment of the 

20 Unlocking Opportunities in Emerging Markets 

21 Act of 2021, the Administrator shall appoint a 

22 Director of the Office of Emerging Markets, 

23 who shall— 


kjohnson on DSK79L0C42PROD with BILLS
6 

•S 63 IS

1 ‘‘(i) supervise the Office of Emerging 

2 Markets and report to the Associate Ad3 ministrator; and 

4 ‘‘(ii) be in the Senior Executive Serv5 ice. 

6 ‘‘(B) DUTIES.—The Director shall— 

7 ‘‘(i) create and implement strategies 

8 and programs that provide an integrated 

9 approach to the development of small busi10 ness concerns in an emerging market; 

11 ‘‘(ii) develop and recommend policies 

12 concerning the microloan program and any 

13 other access to capital program of the Ad14 ministration, as such programs pertain to 

15 small business concerns in an emerging 

16 market; 

17 ‘‘(iii) establish partnerships to ad18 vance the goal of improving the economic 

19 success of small business concerns in an 

20 emerging market; and 

21 ‘‘(iv) review the effectiveness and im22 pact of the microloan program and any 

23 other access to capital program of the Ad24 ministration that is targeted to serve small 

25 business concerns in an emerging market. 


kjohnson on DSK79L0C42PROD with BILLS
7 

•S 63 IS

1 ‘‘(C) CONSULTATION.—In carrying out the 

2 duties under this paragraph, the Director shall 

3 consult with district offices of the Administra4 tion.’’. 

Æ 


kjohnson on DSK79L0C42PROD with BILLS