I 

116TH CONGRESS 

2D SESSION H. R. 7773 

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

and economically disadvantaged individuals, including Black Americans, 

Hispanic Americans, Native Americans (Alaska Natives, Native Hawaiians, or enrolled members of a federally or State recognized Indian 

Tribe), Asian Pacific Americans, and other minorities; veterans; and 

those located in rural areas, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 24, 2020 

Ms. FINKENAUER (for herself and Mr. YOUNG) introduced the following bill; 

which was referred to the Committee on Small Business 

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, 

such as those owned by women; socially and economically 

disadvantaged individuals, including Black Americans, 

Hispanic Americans, Native Americans (Alaska Natives, 

Native Hawaiians, or enrolled members of a federally 

or State recognized Indian Tribe), Asian Pacific Americans, and other minorities; veterans; and those located 

in rural areas, and for other purposes. 


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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 2020’’. 

6 SEC. 2. OFFICE OF EMERGING MARKETS. 

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

8 is amended by adding at the end the following: 

9 ‘‘(o) OFFICE OF EMERGING MARKETS.— 

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

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

12 means the Associate Administrator of the Office 

13 of Capital Access of the Administration; 

14 ‘‘(B) the term ‘Director’ means the Direc15 tor of the Office of Emerging Markets; 

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

17 the program described in subsection (m); 

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

19 of a reserve component of the Armed Forces 

20 named in section 10101 of title 10, United 

21 States Code; 

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

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


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

2 meaning given the term in section 101 of title 

3 38, United States Code; and 

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

5 an emerging market’ means a small business 

6 concern— 

7 ‘‘(i) that is located in— 

8 ‘‘(I) a low-income or moderate-in9 come area for purposes of the Com10 munity Development Block Grant 

11 Program under title I of the Housing 

12 and Community Development Act of 

13 1974; 

14 ‘‘(II) a HUBZone as defined in 

15 section 31(b); 

16 ‘‘(III) a community that has been 

17 designated as an empowerment zone 

18 or an enterprise community under 

19 section 1391 of the Internal Revenue 

20 Code of 1986; 

21 ‘‘(IV) a community that has been 

22 designated as a Promise Zone by the 

23 Secretary of Housing and Urban De24 velopment; 


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1 ‘‘(V) a community that has been 

2 designated as a qualified opportunity 

3 zone under section 1400Z–1 of the In4 ternal Revenue Code of 1986; or 

5 ‘‘(VI) a rural area; 

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

7 employees residing in a low- or moderate8 income community; 

9 ‘‘(iii) that is growing, newly estab10 lished, or a startup, as those terms are 

11 used in subsection (m); 

12 ‘‘(iv) owned and controlled by socially 

13 and economically disadvantaged individ14 uals, including Black Americans, Hispanic 

15 Americans, Native Americans (Alaska Na16 tives, Native Hawaiians, or enrolled mem17 bers of a federally or State recognized In18 dian Tribe), Asian Pacific Americans, and 

19 other minorities; 

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

21 ‘‘(vi) owned and controlled by vet22 erans; 

23 ‘‘(vii) owned and controlled by service24 disabled veterans; or 


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

2 and controlled by one or more— 

3 ‘‘(I) members of the Armed 

4 Forces participating in the Transition 

5 Assistance Program of the Depart6 ment of Defense; 

7 ‘‘(II) Reservists; 

8 ‘‘(III) spouses of veterans, mem9 bers of the Armed Forces, or Reserv10 ists; 

11 ‘‘(IV) surviving spouses of vet12 erans who died on active duty or as a 

13 result of a service-connected disability; 

14 or 

15 ‘‘(V) individuals with a disability, 

16 as defined in section 3 of the Ameri17 cans with Disabilities Act of 1990. 

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

19 within the Administration the Office of Emerging 

20 Markets, which shall be— 

21 ‘‘(A) under the general management and 

22 oversight of the Administration; and 

23 ‘‘(B) responsible for the planning, coordi24 nation, implementation, evaluation, and im25 provement of the efforts of the Administrator to 


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1 enhance the economic well-being of small busi2 ness concerns in an emerging market. 

3 ‘‘(3) DIRECTOR.— 

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

5 days after the date of enactment of this sub6 section, the Administrator shall appoint a Di7 rector of the Office of Emerging Markets, who 

8 shall— 

9 ‘‘(i) supervise the Office of Emerging 

10 Markets and report to the Associate Ad11 ministrator; and 

12 ‘‘(ii) be in the Senior Executive Serv13 ice under subchapter VIII of chapter 53 of 

14 title 5. 

15 ‘‘(B) DUTIES.—The Director shall— 

16 ‘‘(i) create and implement strategies 

17 and programs that provide an integrated 

18 approach to the development of small busi19 ness concerns in an emerging market; 

20 ‘‘(ii) develop and recommend policies 

21 concerning the microloan program and any 

22 other access to capital program of the Ad23 ministration, as such programs pertain to 

24 small business concerns in an emerging 

25 market; 


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1 ‘‘(iii) establish partnerships to ad2 vance the goal of improving the economic 

3 success of small business concerns in an 

4 emerging market; and 

5 ‘‘(iv) review the effectiveness and im6 pact of the microloan program and any 

7 other access to capital program of the Ad8 ministration that is targeted to serve small 

9 business concerns in an emerging market. 

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

11 duties under this paragraph, the Director shall 

12 consult with district offices of the Administra13 tion.’’. 

Æ 


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