Minority Business Development Act of 2021

Bill: 117-s-2068
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Introduced: 2021-06-15 in the Senate
Policy area: Commerce
Subjects: Accounting and auditing
Advisory bodies
Business education
Business investment and capital
Community life and organization
Competitiveness, trade promotion, trade deficits
Congressional oversight
Department of Commerce
Economic performance and conditions
Education programs funding
Employee hiring
Executive agency funding and structure
Federal officials
Government information and archives
Government studies and investigations
Higher education
Internet and video services
Internet, web applications, social media
Manufacturing
Marketing and advertising
Minority and disadvantaged businesses
Public contracts and procurement
Public-private cooperation
Rural conditions and development
Small business
Social work, volunteer service, charitable organizations
Tax-exempt organizations
Teaching, teachers, curricula
User charges and fees

Summary:
action_date: 2021-06-15
text: 

Minority Business Development Act of 2021

 
This bill permanently authorizes the Minority Business Development Agency (MBDA), requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs), and establishes the Minority Business Enterprises Advisory Council to advise and assist the MBDA.
 
Specifically, the bill requires the MBDA to (1) provide assistance to MBEs in domestic and foreign markets by making available specified resources, (2) promote the position of MBEs in local economies, and (3) collect data on the causes of MBE success or failure and research how economic conditions affect the development of MBEs.
 
The bill establishes formal processes for the MBDA Business Center Program and the MBDA Rural Business Center Program through which business centers provide programs and services to support MBEs.
 
The bill also establishes new initiatives to promote economic resiliency for minority businesses, including (1) an annual forum to review problems and programs relating to capital formation by MBEs, (2) a study and report on alternative financing solutions for MBEs, and (3) entrepreneurship education grants for certain institutions of higher education to develop and implement entrepreneurship curricula.
 
Further, the bill establishes grants for certain nonprofit organizations that provide services to MBEs as one of their primary activities.
 
The bill authorizes the MBDA to coordinate federal government programs and operations that affect the establishment, preservation, and strengthening of socially or economically disadvantaged businesses.
 
The Government Accountability Office must report on the programs carried out pursuant to the bill. 

action_date: 2021-12-17
text: 

Minority Business Development Act of 2021

 
This bill permanently authorizes the Minority Business Development Agency (MBDA), requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs), and establishes the Minority Business Enterprises Advisory Council to advise and assist the MBDA.
 
Specifically, the bill requires the MBDA to (1) provide assistance to MBEs in domestic and foreign markets by making available specified resources, (2) promote the position of MBEs in local economies, and (3) collect data on the causes of MBE success or failure and research how economic conditions affect the development of MBEs.
 
The bill establishes formal processes for the MBDA Business Center Program and the MBDA Rural Business Center Program through which business centers provide programs and services to support MBEs.
 
The bill also establishes new initiatives to promote economic resiliency for minority businesses, including (1) an annual forum to review problems and programs relating to capital formation by MBEs, (2) a study and report on alternative financing solutions for MBEs, and (3) entrepreneurship education grants for certain institutions of higher education to develop and implement entrepreneurship curricula.
 
Further, the bill establishes grants for certain nonprofit organizations that provide services to MBEs as one of their primary activities.
 
The bill authorizes the MBDA to coordinate federal government programs and operations that affect the establishment, preservation, and strengthening of socially or economically disadvantaged businesses.
 
The Government Accountability Office must report on the programs carried out pursuant to the bill. 


Legislative actions:
action_date: 2021-12-17
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 228.
action_date: 2021-12-17
text: Committee on Commerce, Science, and Transportation. Reported by Senator Cantwell with an amendment in the nature of a substitute. Without written report.
action_date: 2021-12-17
text: Committee on Commerce, Science, and Transportation. Reported by Senator Cantwell with an amendment in the nature of a substitute. Without written report.
action_date: 2021-08-04
text: Committee on Commerce, Science, and Transportation. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2021-06-15
text: Read twice and referred to the Committee on Commerce, Science, and Transportation.
action_date: 2021-06-15
text: Introduced in Senate