seling, classroom training, or other activities de-
signed to assist a covered individual to improve the 
profitability, efficiency, or readiness for financing of 
the individual’s business. 
(3) Conducting culturally and linguistically ap-
propriate outreach to underserved communities in 
the area in which assistance described in paragraph 
(1) or (2) is provided. 
(d) APPLICATIONS FOR GRANTS.—To be eligible for 
a grant under the program an entity specified in sub-
section (b) shall submit to the Commissioner an applica-
tion at such time, in such form, and containing such infor-
mation as the Commissioner may require, but which, at 
a minimum, shall— 
(1) include the plan of the entity to provide as-
sistance and outreach described in subsection (c) 
throughout each year; and 
(2) demonstrate that the entity has experience 
providing the assistance described in paragraph (1) 
and the assistance described in paragraph (2) of 
subsection (c). 
(e) GRANT AMOUNT.—A grant made under the pro-
gram may not be in an amount that exceeds $75,000. 
(f) GAO STUDY AND REPORT.— 
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(1) STUDY.—The Comptroller General of the 
United States shall conduct a study on the program, 
including program outcomes. 
(2) REPORT.—Not later than 3 years after the 
date on which the program is established, the Comp-
troller General shall submit to Congress a report on 
the results of the study conducted under paragraph 
(1), which shall include the following: 
(A) An analysis of the impact of the pro-
gram on covered individuals and the businesses 
of such individuals. 
(B) An identification of the best practices 
of grant recipients with respect to activities car-
ried out with grant funds. 
(C) Recommendations for improving the 
program. 
(g) AUTHORIZATION OF APPROPRIATIONS.— 
(1) IN GENERAL.—There is authorized to be 
appropriated to carry out the program $1,500,000 
for each of fiscal years 2012 through 2016. 
(2) ADMINISTRATIVE
COSTS.—Of the funds 
made available to carry out the program each fiscal 
year, the Commissioner may use not more than 10 
percent for the administrative costs of the program. 
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(h) DEFINITIONS.—In this section, the following defi-
nitions apply: 
(1) COVERED INDIVIDUAL.—The term ‘‘covered 
individual’’ means, with respect to any taxable year, 
an individual who— 
(A) is engaged in an active trade or busi-
ness as a sole proprietor during such taxable 
year; 
(B) is required to report income or loss on 
Schedule C to Form 1040 for such taxable 
year; and 
(C) has modified adjusted gross income of 
$50,000 or less for the preceding taxable year. 
(2) INSTITUTION OF HIGHER EDUCATION.—The 
term ‘‘institution of higher education’’ has the 
meaning given that term in section 102 of the High-
er Education Act of 1965 (20 U.S.C. 1002). 
(3) MICROLENDER.—The term ‘‘microlender’’ 
means a private organization that provides— 
(A) loans of $50,000 or less to entre-
preneurs, small business owners, and nonprofit 
child care providers; and 
(B) marketing, management, and technical 
assistance to loan recipients and potential loan 
recipients. 
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(4) MODIFIED ADJUSTED GROSS INCOME.—The 
term ‘‘modified adjusted gross income’’ means the 
adjusted gross income (as defined in section 62 of 
the Internal Revenue Code of 1986) of the taxpayer 
for a taxable year increased by any amount excluded 
from gross income under section 911, 931, or 933 
of such Code. 
Æ 
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