I 
112TH CONGRESS 
2D SESSION 
H. R. 5944 
To strengthen entrepreneurial education, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 8, 2012 
Mr. RICHMOND introduced the following bill; which was referred to the Com-
mittee on Small Business, and in addition to the Committee on Education 
and the Workforce, for a period to be subsequently determined by the 
Speaker, in each case for consideration of such provisions as fall within 
the jurisdiction of the committee concerned 
A BILL 
To strengthen entrepreneurial education, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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— 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
(1) the terms ‘‘Administration’’ and ‘‘Adminis-
trator’’ 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 Administra-
tion an Office of Entrepreneurial Education, which 
shall develop and provide innovative entrepreneurial 
information, education, and resources, to promote 
prospective entrepreneurs and successful small busi-
ness concerns. 
‘‘(2) DIRECTOR.—The head of the Office of En-
trepreneurial Education is the Director of the Office 
of Entrepreneurial Education, who shall report to 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
the Associate Administrator for Entrepreneurial De-
velopment. 
‘‘(3) DUTIES.—The Director of the Office of 
Entrepreneurial Education shall— 
‘‘(A) manage the online courses, online 
publications, and other online resources pro-
vided by the Administration to entrepreneurs 
and small business concerns; 
‘‘(B) manage the youth entrepreneurship 
programs of the Administration, including— 
‘‘(i) online resources for youth entre-
preneurs; and 
‘‘(ii) coordination and outreach with 
entrepreneurial development service pro-
viders 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 ma-
terials on money management and financial lit-
eracy for entrepreneurs and small business con-
cerns; and 
‘‘(D) provide assistance and courtesy serv-
ices to individuals and foreign dignitaries vis-
iting the United States who are interested in 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
issues relating to entrepreneurs and small busi-
ness 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 Adminis-
trator 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 organi-
zations, including small business development cen-
ters, women’s business centers, chapters of the Serv-
ice 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 entrepre-
neurship. 
‘‘(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; 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
‘‘(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 Asso-
ciate 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 organiza-
tion 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 Adminis-
trator 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 ENTREPRE-
NEURIAL EDUCATION AND TRAINING PROGRAMS.— 
(1) REPORT REQUIRED.—Not later than 180 
days after the date of enactment of this Act, the Di-
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
rector of the Office of Entrepreneurial Education 
shall submit to the Committee on Small Business 
and Entrepreneurship of the Senate and the Com-
mittee on Small Business of the House of Rep-
resentatives 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 Edu-
cation determines are exemplary, including na-
tional programs, regional programs, State pro-
grams, and local programs; and 
(B) a summary of entrepreneurial edu-
cation and training programs carried out by— 
(i) the Federal Government; 
(ii) State and local governments; and 
(iii) nonprofit organizations and pri-
vate 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: 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
‘‘(o) UNIVERSITY AND COLLEGE ENTREPRENEURIAL 
EDUCATION PROGRAM.— 
‘‘(1) IN GENERAL.—A small business develop-
ment center may apply for a grant under this sub-
section to carry out a university and college entre-
preneurial education program. 
‘‘(2) ELEMENTS OF PROGRAM.—A program car-
ried out using a grant under this subsection may in-
clude— 
‘‘(A) connecting university and college stu-
dents with small business concerns that are cli-
ents of a small business development center; 
‘‘(B) providing assistance to faculty mem-
bers of universities and colleges with respect to 
entrepreneurial education programs for stu-
dents of the universities and colleges; and 
‘‘(C) improving university and college busi-
ness curricula or developing university and col-
lege curricula concerning entrepreneurial edu-
cation. 
‘‘(3) FUNDING.—The Administration may make 
grants under this subsection subject to amounts pro-
vided in advance in appropriations Acts.’’. 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
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 De-
velopment; 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 Admin-
istration. 
‘‘(b) PROGRAM ESTABLISHED.—The Associate Ad-
ministrator shall establish an entrepreneurial innovators 
partnership program under which the Associate Adminis-
trator shall make grants to eligible entities to carry out 
innovative programs that expand entrepreneurship, im-
prove partnerships between nonprofit organizations and 
entrepreneurs, and promote job creation by small business 
concerns. 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
‘‘(c) PROGRAM ACTIVITIES.—A grant under this sec-
tion 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 assist-
ance to small business concerns; 
‘‘(3) a program that provides entrepreneurial 
education to professional services providers, includ-
ing attorneys and accountants; or 
‘‘(4) any other program that the Associate Ad-
ministrator 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 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
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 de-
sires a grant under this section shall submit an ap-
plication to the Associate Administrator at such time 
and in such form as the Associate Administrator 
shall determine. 
‘‘(2) PRIORITY.—In awarding grants the Asso-
ciate Administrator shall give priority to an applica-
tion 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 busi-
ness concerns; or 
‘‘(iii) working with small business con-
cerns; or 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
‘‘(C) includes a proposal for a program to 
be carried out through a partnership between 
nonprofit organizations, resource partners of 
the Administration, and educational institu-
tions. 
‘‘(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 adminis-
trator of each regional office of the Administration 
shall— 
(A) identify a prominent public-private 
issue that challenges a broad range of individ-
uals in the region; 
(B) sponsor a single regional competition 
among local small business concerns, inventors, 
and entrepreneurs under which persons or 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
groups of persons submit research and business 
plans to address the issue identified under sub-
paragraph (A); 
(C) provide outreach to universities, col-
leges, business communities, industry leaders 
and organizations, and nonprofit organizations 
to promote the competition and to request pro-
posals for research and business plans; 
(D) in coordination with the Director of 
the Office of Entrepreneurship Education, se-
lect 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 se-
lected under subparagraph (D). 
(2) CONFERENCE.— 
(A) IN GENERAL.—The Administrator, act-
ing through the Associate Administrator for 
Field Operations, shall organize a single na-
tional conference for the presentation of the re-
search and business plans selected under para-
graph (1)(D) by the regional administrators. 
(B) PANEL.— 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
(i) IN GENERAL.—The Administrator 
shall designate 11 employees of the Admin-
istration to serve on a panel that shall se-
lect, 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 se-
lected 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. 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00013
Fmt 6652
Sfmt 6201
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS
(4) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Ad-
ministrator $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 es-
tablishing 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 man-
ner that assists youth entrepreneurship by making 
available capital for business formation. 
Æ 
VerDate Mar 15 2010 
04:13 Jun 13, 2012
Jkt 019200
PO 00000
Frm 00014
Fmt 6652
Sfmt 6301
E:\BILLS\H5944.IH
H5944
smartinez on DSK6TPTVN1PROD with BILLS