Supporting NEW BUSINESSES Act
Bill: S.4206 | Sponsor: Sen. Cortez Masto, Catherine (D-NV)
Policy area: Commerce

Summary:
Supporting New Entrepreneurs and Workers By Undoing and Streamlining Inhibitors to Nascent Enterprises through Supporting Successful Efficiency Solutions Act or the Supporting NEW BUSINESSES Act
This bill requires the Small Business Administration to annually provide awards recognizing three state or local governments that implement innovative and effective policies or tools to streamline processes related to the formation of small business in their communities.

To require the Administrator of the Small Business Administration to 
 provide awards to recognize State and local governments that improve 
     the process of forming a new business, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Supporting New Entrepreneurs and 
Workers By Undoing and Streamlining Inhibitors to Nascent Enterprises 
through Supporting Successful Efficiency Solutions Act'' or the 
``Supporting NEW BUSINESSES Act''.

SEC. 2. AWARDS FOR STREAMLINING THE PROCESS OF BUSINESS FORMATION.

    (a) In General.--The Small Business Act (15 U.S.C. 631 et seq.) is 
amended--
            (1) by redesignating section 49 (15 U.S.C. 631 note) as 
        section 50; and
            (2) by inserting after section 48 (15 U.S.C. 657u) the 
        following:

``SEC. 49. AWARDS FOR STREAMLINING THE PROCESS OF BUSINESS FORMATION.

    ``(a) In General.--The Administrator shall, on an annual basis, 
provide 3 awards to recognize State and local governments that 
implement innovative and effective policies or tools to streamline 
processes related to the formation of small business concerns in their 
communities, of which--
            ``(1) 1 award shall be provided to a State or local 
        government that represents a community of not less than 400,000 
        individuals;
            ``(2) 1 award shall be provided to a State or local 
        government that represents a community of not less than 100,000 
        and less than 400,000 individuals; and
            ``(3) 1 award shall be provided to a State or local 
        government that represents a community of less than 100,000 
        individuals.
    ``(b) Application.--A State or local government seeking an award 
under subsection (a) shall submit to the Administrator an application 
at such time, containing such information, and in such manner as the 
Administrator may require.
    ``(c) Considerations.--In providing an award under subsection (a), 
the Administrator shall consider whether a State or local government 
streamlined the process described in subsection (a) by--
            ``(1) streamlining or reducing redundancies in paperwork, 
        forms, or other written or online documents required to form a 
        small business concern;
            ``(2) consolidating resources available to individuals 
        looking to form a small business concern, such as through the 
        creation of user-friendly online portals;
            ``(3) reducing duplication or inconsistencies in 
        requirements between overlapping jurisdictions; or
            ``(4) innovatively making necessary procedures more 
        streamlined or efficient.''.
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