I 
118TH CONGRESS 
1ST SESSION H. R. 4499 
To establish a grant program to provide minority business enterprises access 
to entrepreneurship opportunities, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 6, 2023 
Ms. STEVENS (for herself and Mrs. BEATTY) introduced the following bill; 
which was referred to the Committee on Financial Services, and in addi-
tion to the Committee on Small Business, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
A BILL 
To establish a grant program to provide minority business 
enterprises access to entrepreneurship opportunities, 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 ‘‘Increasing and Devel-
oping Entrepreneurship Access Act of 2023’’ or the 
‘‘IDEA Act of 2023’’. 
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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 Under Sec-
retary of Commerce for Minority Business Development 
shall establish a program to provide grants to business ac-
celerator entities to provide entrepreneurship opportuni-
ties to minority business enterprises. 
(b) APPLICATION.—The Under Secretary may pro-
vide a grant under this section to a business accelerator 
entity only if the entity submits to the Under Secretary 
an application at such time, in such manner, and con-
taining such information as the Under Secretary may rea-
sonably 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 Under 
Secretary 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 Under Secretary shall submit to 
Congress, for each fiscal year in which the Under Sec-
retary provides 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) UNDER
SECRETARY.—The term ‘‘Under 
Secretary’’ means the Under Secretary of Commerce 
for Minority Business Development. 
(i) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to carry out this section 
$25,000,000 for each of the fiscal years 2024 through 
2028. 
Æ 
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