SEC. 2. GRANTS TO PROVIDE MINORITY BUSINESS ENTER-
PRISES ACCESS TO ENTREPRENEURSHIP OP-
PORTUNITIES. 
(a) ESTABLISHMENT.—Not later than 180 days after 
the date of the enactment of this section, the National Di-
rector of the Minority Business Development Agency of 
the Department of Commerce shall establish a program 
to provide grants to business accelerator entities to pro-
vide entrepreneurship opportunities to minority business 
enterprises. 
(b) APPLICATION.—The National Director may pro-
vide a grant under this section to a business accelerator 
entity only if the entity submits to the National Director 
an application at such time, in such manner, and con-
taining such information as the National Director may 
reasonably require. 
(c) AMOUNT
AND DURATION.—The amount of a 
grant provided under this section shall be $1,000,000 each 
year for five consecutive years. 
(d) FEDERAL SHARE.—The Federal share of a grant 
provided this section to a business accelerator entity may 
not exceed 75 percent of the total amount of funds pro-
vided by the entity to carry out activities using grant 
funds. 
(e) USE OF FUNDS.— 
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(1) IN GENERAL.—A grant provided under this 
section shall be used by a business accelerator entity 
to provide— 
(A) capital, including direct cash transfers 
of grant funds, to minority business enterprises 
in the region; 
(B) networking programs that connect mi-
nority business enterprises to sources of capital 
and innovation in the region; and 
(C) any other assistance that the National 
Director determines to be appropriate for mi-
nority business enterprises in the region. 
(2) REGION DESCRIBED.—A region described in 
this subsection is a region in which not less than 15 
minority business enterprises with revenues not less 
than $250,000 are located. 
(f) REPORT.—The National Director shall submit to 
Congress, for each fiscal year in which the Director pro-
vides grants under this section, a report on the program 
established under this section, including— 
(1) an identification of the number of grants 
provided in such fiscal year and the total amount of 
such grants; 
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(2) an identification of the number of minority 
business enterprises that have received assistance 
from such entities in such fiscal year; and 
(3) a description of any noncompliance by any 
business accelerator entity and the amount of funds 
such entity has received. 
(g) MISDEMEANOR.—A business accelerator entity 
that receives a grant under this section that knowingly 
uses amounts under the grant for any purpose not other-
wise permitted under the program established by this sec-
tion or who knowingly attempts to do so, shall be fined 
as provided in title 18, United States Code, or imprisoned 
for not more than one year, or both. 
(h) DEFINITIONS.—In this section: 
(1) BUSINESS
ACCELERATOR
ENTITY.—The 
term ‘‘business accelerator entity’’ means an entity 
that— 
(A) engages in a partnership with public or 
private organizations that target minority busi-
ness enterprises; 
(B) provides opportunities to scale minor-
ity owned business enterprises through seed in-
vestment or networking opportunities; or 
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(C) offers start-up capital or opportunities 
to raise capital from outside investors for mi-
nority business enterprises. 
(2) MINORITY
BUSINESS
ENTERPRISE.—The 
term ‘‘minority business enterprise’’ has the mean-
ing given such term in section 1108(a) of the 
CARES Act (15 U.S.C. 9007(a)). 
(3) NATIONAL DIRECTOR.—The term ‘‘National 
Director’’ means the National Director of the Minor-
ity Business Development Agency of the Department 
of Commerce. 
(i) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to carry out this section 
$25,000,000 for each of the fiscal years 2022 through 
2026. 
Æ 
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