Main Street Stabilization Act of 2013

Bill: 113-hr-1283
Sponsor: full_name: Rep. Braley, Bruce L. [D-IA-1]
Introduced: 2013-03-20
Policy area: Commerce
Subjects: Business investment and capital

Internet and video services

Internet, web applications, social media

Small business
Latest action: action_date: 2013-03-20
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2013-03-20
action_desc: Introduced in House
text: <p>Main Street Stabilization Act of 2013 - Directs the Small Business Administration (SBA) to establish a grant program for small business development centers. <times/> <times/> </p> <p> Requires program funding to be used for: (1) the development of business advisory capacity, (2) the development of online tools and resources for struggling small businesses, (3) the deployment of additional resources to help industry sectors with a high presence of small businesses, and (4) the development of a listing of financing options for small business capital access. <times/> <times/> </p> <p>Prohibits the SBA from awarding an entity under this Act more than $250,000 in grant funds. <times/> <times/> <p>

tv_txt: I 113th CONGRESS 1st Session H. R. 1283 IN THE HOUSE OF REPRESENTATIVES March 20, 2013 Mr. Braley of Iowa introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to provide for grants to small business development centers, and for other purposes.

1. Short title This Act may be cited as the Main Street Stabilization Act of 2013 . 2. In general Section 21 of the Small Business Act ( 15 U.S.C. 648 ), is amended by adding at the end the following new subsection: (o) Main street stabilization (1) In general The Administration shall establish a grant program for small business development centers in accordance with this subsection. To be eligible for the program, a small business development center must be in good standing and comply with the other requirements of this section. Funds made available through the program shall be used to— (A) develop business advisory capacity to provide expert consulting and education to assist small businesses and to, in areas of high demand, shorten the response time of small business development centers, and, in rural areas, support added outreach in remote communities; (B) develop a portfolio of online survival and growth tools and resources that struggling small business concerns can utilize through the Internet; (C) deploy additional resources to help specific industry sectors with a high presence of small business concerns, which shall be targeted toward clusters of small businesses with similar needs and build upon best practices from earlier assistance; and (D) develop a formal listing of financing options for small business capital access. (2) Award size limit The Administration may not award an entity more than $250,000 in grant funds under this subsection. (3) Authority Subject to amounts approved in advance in appropriations Acts and separate from amounts approved to carry out the program established in subsection (a)(1), the Administration may make grants or enter into cooperative agreements to carry out this subsection. (4) Authorization There is authorized to be appropriated not more than $2,500,000 for the purposes of carrying out this subsection for each of the fiscal years 2014 and 2015. .