African Entrepreneurship Act of 2006

Bill: 109-hr-5480
Sponsor: Rep. McDermott, Jim [D-WA-7]
Introduced: 2006-05-25 in the House
Policy area: International Affairs
Subjects: Africa (Sub-Saharan)
Agribusiness
Agricultural assistance
Agricultural cooperatives
Agricultural credit
Agricultural machinery
Agriculture and Food
Agriculture in foreign trade
American investments
Business education
Business ethics
Child labor
Civics education
Civil Rights and Liberties, Minority Issues
Collective bargaining
Commerce
Conferences
Congressional reporting requirements
Curricula
Depressed areas
Developing countries
Development credit institutions
Discrimination in employment
Diversification in industry
Economics and Public Finance
Education
Elementary and secondary education
Employee rights
Energy
Entrepreneurs
Environmental Protection
Excise tax
Executive reorganization
Export finance
Exports
Families
Federal advisory bodies
Federally-guaranteed loans
Forced labor
Foreign Trade and International Finance
Foreign banks and banking
Foreign trade promotion
Free enterprise
Freedom of association
Government Operations and Politics
Government ethics
Government trust funds
Health
Hours of labor
Human rights
Imports
Intellectual property
International law
Job creation
Joint ventures
Labor and Employment
Labor unions
Legislation
Minimum wages
Occupational health and safety
Petroleum
Pollution taxes
Privatization
Public corruption
Quality of life
Science, Technology, Communications
Small Business Administration
Small business
Social Welfare
Standards
Tax rates
Taxation
Technical assistance
Technology transfer
Volunteer workers
Women
Women in business
Youth services

Summary:
action_date: 2006-05-25
text: 
African Entrepreneurship Act of 2006 - States that it shall be U.S. policy to make available for private sector development in sub-Saharan African countries professional, technical, and other resources for capacity-building for retail banks and small and medium enterprises, including farmers' cooperatives and businesses, to promote entrepreneurship and economic and export diversification, to expand the formal sector, and to increase trade. 
 
Amends the Internal Revenue Code to include an African Economic Diversification Fund financing rate in the determination of the tax on petroleum products entered into the United States directly from a beneficiary sub-Saharan country. Terminates the Fund financing rate after December 31, 2011.
 
Establishes in the Treasury the African Economic Diversification Fund. Sets forth permitted expenditures.
 
Amends the Small Business Act to establish in the Office of International Trade the 21st Century African Entrepreneurs Program to provide assistance to qualified small and medium African enterprises. Provides for the establishment of not less than three African Entrepreneurs Program Centers for each of FY2007-FY2012 in qualified sub-Saharan countries.
 
Directs the Administrator of the Small Business Administration (SBA) to establish the U.S.-Africa Private Sector Advisory Council.
 
States that: (1) the Administrator should provide the Secretary of the Treasury with information pertaining to how African Development Bank programs can be used to improve the 21st Century African Entrepreneurs Program; (2) the Secretary of Agriculture should provide the Secretary of the Treasury with information pertaining to how the establishment of a value-added agricultural loan facility can be used to support development of qualified small and medium African enterprises devoted to the processing of agricultural commodities; and (3) the Secretary of State should undertake activities to strengthen internationally recognized labor rights and standards in qualified sub-Saharan African countries.
 
Authorizes the President, through the United States Agency for International Development (USAID), to provide assistance to small and medium enterprises in such countries for: (1) youth entrepreneurship programs; and (2) anti-corruption initiatives.


Legislative actions:
action_date: 2006-05-25
text: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, 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.
action_date: 2006-05-25
text: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, 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.
action_date: 2006-05-25
text: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, 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.
action_date: 2006-05-25
text: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, 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.
action_date: 2006-05-25
text: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, 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.
action_date: 2006-05-25
text: Introduced in House
action_date: 2006-05-25
text: Introduced in House