Minority Entrepreneurship Grant Program Act of 2021
Bill: S.1109 | Sponsor: Sen. Rosen, Jacky (D-NV)
Policy area: Commerce

Summary:
Minority Entrepreneurship Grant Program Act of 2021
This bill requires the Small Business Administration (SBA) to award grants to create or expand programs at minority-serving institutions and historically Black colleges and universities (HBCUs) that foster, promote, and increase opportunities for minority business ownership. The SBA must also establish a Minority Entrepreneurship Advisory Board to develop recommendations regarding how these institutions and HBCUs can better serve minority businesses and entrepreneurs.

To require the Administrator of the Small Business Administration, in 
   consultation with the National Director of the Minority Business 
 Development Agency, to establish a grant program to create or expand 
   programs at minority-serving institutions and historically Black 
colleges and universities that promote minority business ownership and 
               entrepreneurship, 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 ``Minority Entrepreneurship Grant 
Program Act of 2021''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Administrator.--The term ``Administrator'' means the 
        Administrator of the Small Business Administration.
            (2) Board.--The term ``Board'' means the Minority 
        Entrepreneurship Advisory Board established under section 4(a).
            (3) Director.--The term ``Director'' means the National 
        Director of the Minority Business Development Agency.
            (4) Historically black college or university.--The term 
        ``historically Black college or university'' means a part B 
        institution, as that term is defined in section 322 of the 
        Higher Education Act of 1965 (20 U.S.C. 1061).
            (5) Minority.--The term ``minority'' includes an individual 
        who is--
                    (A) Black or African American;
                    (B) Hispanic or Latino;
                    (C) Native or Indigenous American;
                    (D) Asian;
                    (E) Native Hawaiian or other Pacific Islander;
                    (F) Native Alaskan; or
                    (G) a member of a group that the Minority Business 
                Development Agency of the Department of Commerce 
                determines under part 1400 of title 15, Code of Federal 
                Regulations, as in effect on November 23, 1984, is a 
                socially disadvantaged group eligible to receive 
                assistance.
            (6) Minority-serving institution.--The term ``minority-
        serving institution'' means any of the following:
                    (A) A Hispanic-serving institution, as that term is 
                defined in section 502(a) of the Higher Education Act 
                of 1965 (20 U.S.C. 1101a(a)).
                    (B) A Tribal College or University, as that term is 
                defined in section 316(b) of the Higher Education Act 
                of 1965 (20 U.S.C. 1059c(b)).
                    (C) An Alaska Native-serving institution, as that 
                term is defined in section 317(b) of the Higher 
                Education Act of 1965 (20 U.S.C. 1059d(b)).
                    (D) A Native Hawaiian-serving institution, as that 
                term is defined in section 317(b) of the Higher 
                Education Act of 1965 (20 U.S.C. 1059d(b)).
                    (E) A Predominantly Black Institution, as that term 
                is defined in section 318(b) of the Higher Education 
                Act of 1965 (20 U.S.C. 1059e(b)).
                    (F) A Native American-serving, nontribal 
                institution, as that term is defined in section 319(b) 
                of the Higher Education Act of 1965 (20 U.S.C. 
                1059f(b)).
                    (G) An Asian-American and Native American Pacific 
                Islander-serving institution, as that term is defined 
                in section 320(b) of the Higher Education Act of 1965 
                (20 U.S.C. 1059g(b)).
            (7) Program.--The term ``Program'' means the grant program 
        established under section 3(a).
            (8) Small business concern.--The term ``small business 
        concern'' has the meaning given the term in section 3(a) of the 
        Small Business Act (15 U.S.C. 632(a)).
            (9) Student entrepreneur.--The term ``student 
        entrepreneur'' means a student who is--
                    (A) a minority;
                    (B) enrolled at a minority-serving institution or a 
                historically Black college or university; and
                    (C) seeking to establish or develop a business.

SEC. 3. GRANT PROGRAM.

    (a) Establishment.--Not later than 180 days after the date of 
enactment of this Act, the Administrator, in consultation with the 
Director, shall establish a grant program within the Small Business 
Administration, the purpose of which shall be to create or expand 
programs at minority-serving institutions and historically Black 
colleges and universities that foster, promote, and increase 
opportunities for minority business ownership.
    (b) Application Process.--A minority-serving institution or a 
historically Black college or university seeking a grant under the 
Program shall submit to the Administrator an application that contains 
a description of--
            (1) the need for the grant funds to promote minority 
        entrepreneurship and business ownership among student 
        entrepreneurs enrolled at the minority-serving institution or 
        the historically Black college or university;
            (2) how the grant funds will be used to carry out the 
        activities described in paragraph (1);
            (3) how the programs created or expanded with the grant 
        funds will provide support to student entrepreneurs enrolled at 
        the minority-serving institution or historically Black college 
        or university who--
                    (A) seek support for an established business; or
                    (B) need assistance in establishing a business; and
            (4) how the minority-serving institution or historically 
        Black college or university will create or expand programs or 
        initiatives that--
                    (A) increase minority business ownership; and
                    (B) expand business resources to student 
                entrepreneurs enrolled at the minority-serving 
                institution or historically Black college or 
                university.
    (c) Amount of Grant.--A grant made to a minority-serving 
institution or a historically Black college or university under the 
Program shall be not less than $250,000.
    (d) Use of Grant Funds.--With a grant received under the Program, a 
minority-serving institution or a historically Black college or 
university shall support the creation or expansion of programs or 
initiatives that offer business development resources that support 
student entrepreneurs enrolled at the minority-serving institution or 
historically Black college or university, such as--
            (1) free legal, accounting, human resources, information 
        technology, marketing, training, counseling, networking, and 
        technical assistance; and
            (2) access to capital resources, such as the costs 
        associated with forming a new business enterprise.
    (e) MSI Submission Requirement.--A minority-serving institution or 
historically Black college or university to which a grant is made under 
the Program shall, each year, submit to the Administrator a mid-year 
and year-end report, each of which shall contain, for the period 
covered by the report, the number of--
            (1) student entrepreneurs trained, assisted, and counseled 
        with the grant funds;
            (2) businesses created through the expenditure of the grant 
        funds, including, with respect to each such business--
                    (A) the name of the business;
                    (B) a description of the business; and
                    (C) the amount of grant funds expended in creating 
                the business;
            (3) student entrepreneurs referred to other resources of 
        the Small Business Administration; and
            (4) student entrepreneurs participating in programs created 
        or expanded through the expenditure of the grant funds, which, 
        to the extent possible, shall be disaggregated by sex, race, 
        and ethnicity.
    (f) Report to Congress.--Not later than 18 months after the date on 
which the first grant is made under the Program, and annually 
thereafter, the Administrator shall submit to Congress a report that 
contains information regarding the minority-serving institutions and 
historically Black colleges or universities to which grants were made 
under the Program for the period covered by the report, which shall 
include--
            (1) the name of each such minority-serving institution and 
        historically Black college or university and the amount of each 
        such grant;
            (2) the number of student entrepreneurs trained, assisted, 
        and counseled with Program grant funds--
                    (A) at each minority-serving institution and 
                historically Black college or university to which a 
                grant was made under the Program; and
                    (B) in total under the Program;
            (3) the number of businesses created through the 
        expenditure of Program grant funds--
                    (A) with respect to each minority-serving 
                institution and historically Black college or 
                university to which a grant was made under the Program; 
                and
                    (B) in total under the Program;
            (4) the number of student entrepreneurs referred to 
        resources of the Small Business Administration--
                    (A) at each minority-serving institution and 
                historically Black college or university to which a 
                grant was made under the Program; and
                    (B) in total under the Program;
            (5) the number of student entrepreneurs participating in 
        programs created or expanded through the expenditure of Program 
        grant funds at each minority-serving institution and 
        historically Black college or university to which a grant was 
        made under the Program, and in total under the Program, which, 
        to the extent possible, shall be disaggregated by sex, race, 
        and ethnicity; and
            (6) a statement regarding whether any amounts made 
        available to carry out this section remain unexpended, as of 
        the date on which the report is submitted.
    (g) Authorization of Appropriations.--There are authorized to be 
appropriated to the Administrator $50,000,000 to carry out this 
section.

SEC. 4. ADVISORY BOARD.

    (a) In General.--Not later than 180 days after the date of 
enactment of this Act, the Administrator shall establish a Minority 
Entrepreneurship Advisory Board to develop recommendations regarding 
how minority-serving institutions and historically Black colleges and 
universities can better serve minority businesses and entrepreneurs.
    (b) Membership of Board.--The members of the Board shall be--
            (1) appointed by the Administrator; and
            (2) individuals with--
                    (A) outstanding qualifications;
                    (B) knowledge regarding the needs of small business 
                concerns that are owned by minorities; and
                    (C) experience--
                            (i) working with startups; or
                            (ii) in providing consultation to small 
                        business concerns.
    (c) Submission to Congress.--Not later than 18 months after the 
date of enactment of this Act, the Administrator shall submit to 
Congress the recommendations developed by the Board under subsection 
(a).
    (d) Inapplicability of FACA.--The Federal Advisory Committee Act (5 
U.S.C. App.) shall not apply with respect to the Board or the 
activities of the Board.
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