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Minority Business Resiliency Act of 2021

USA117th CongressHR-2689| House 
| Updated: 6/23/2021
Al Green

Al Green

Democratic Representative

Texas

Cosponsors (18)
Al Lawson (Democratic)Nikema Williams (Democratic)Sylvia R. Garcia (Democratic)Ruben Gallego (Democratic)Ritchie Torres (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Derek Kilmer (Democratic)Melanie A. Stansbury (Democratic)Joseph D. Morelle (Democratic)Marilyn Strickland (Democratic)James A. Himes (Democratic)Lucy McBath (Democratic)Brad Sherman (Democratic)Lizzie Fletcher (Democratic)Ed Perlmutter (Democratic)Kweisi Mfume (Democratic)Judy Chu (Democratic)

Small Business Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Minority Business Resiliency Act of 2021 This bill permanently authorizes the Minority Business Development Agency (MBDA) and requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs). 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 (1) certain nonprofit organizations that provide services to MBEs as one of their primary activities, and (2) MBEs for the purpose of supporting MBEs or helping MBEs remain in business. The Government Accountability Office must report on the programs carried out pursuant to the bill.
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Timeline

Bill from Previous Congress

HR 116-6869
Minority Business Resiliency Act of 2020
Apr 20, 2021

Latest Companion Bill Action

S 117-1255
Introduced in Senate
Apr 20, 2021
Introduced in House
Apr 20, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.
Jun 23, 2021
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Jun 23, 2021
Committee Consideration and Mark-up Session Held.
  • Bill from Previous Congress

    HR 116-6869
    Minority Business Resiliency Act of 2020


  • April 20, 2021

    Latest Companion Bill Action

    S 117-1255
    Introduced in Senate


  • April 20, 2021
    Introduced in House


  • April 20, 2021
    Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.


  • June 23, 2021
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.


  • June 23, 2021
    Committee Consideration and Mark-up Session Held.

Commerce

Related Bills

  • S 117-2068: Minority Business Development Act of 2021
  • S 117-1255: Minority Business Resiliency Act of 2021
  • S 117-1749: Reaching America's Rural Minority Businesses Act of 2021
Accounting and auditingBusiness educationBusiness investment and capitalCommunity life and organizationCompetitiveness, trade promotion, trade deficitsCongressional oversightDepartment of CommerceEconomic performance and conditionsEducation programs fundingEmployee hiringExecutive agency funding and structureFederal officialsGovernment information and archivesGovernment studies and investigationsHigher educationInternet and video servicesInternet, web applications, social mediaManufacturingMarketing and advertisingMinority and disadvantaged businessesPublic contracts and procurementPublic-private cooperationRural conditions and developmentSmall businessSocial work, volunteer service, charitable organizationsTax-exempt organizationsTeaching, teachers, curriculaUser charges and fees

Minority Business Resiliency Act of 2021

USA117th CongressHR-2689| House 
| Updated: 6/23/2021
Minority Business Resiliency Act of 2021 This bill permanently authorizes the Minority Business Development Agency (MBDA) and requires the MBDA to promote and administer programs that assist the development of minority business enterprises (MBEs). 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 (1) certain nonprofit organizations that provide services to MBEs as one of their primary activities, and (2) MBEs for the purpose of supporting MBEs or helping MBEs remain in business. The Government Accountability Office must report on the programs carried out pursuant to the bill.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-6869
Minority Business Resiliency Act of 2020
Apr 20, 2021

Latest Companion Bill Action

S 117-1255
Introduced in Senate
Apr 20, 2021
Introduced in House
Apr 20, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.
Jun 23, 2021
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Jun 23, 2021
Committee Consideration and Mark-up Session Held.
  • Bill from Previous Congress

    HR 116-6869
    Minority Business Resiliency Act of 2020


  • April 20, 2021

    Latest Companion Bill Action

    S 117-1255
    Introduced in Senate


  • April 20, 2021
    Introduced in House


  • April 20, 2021
    Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.


  • June 23, 2021
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.


  • June 23, 2021
    Committee Consideration and Mark-up Session Held.
Al Green

Al Green

Democratic Representative

Texas

Cosponsors (18)
Al Lawson (Democratic)Nikema Williams (Democratic)Sylvia R. Garcia (Democratic)Ruben Gallego (Democratic)Ritchie Torres (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Derek Kilmer (Democratic)Melanie A. Stansbury (Democratic)Joseph D. Morelle (Democratic)Marilyn Strickland (Democratic)James A. Himes (Democratic)Lucy McBath (Democratic)Brad Sherman (Democratic)Lizzie Fletcher (Democratic)Ed Perlmutter (Democratic)Kweisi Mfume (Democratic)Judy Chu (Democratic)

Small Business Committee, Financial Services Committee

Commerce

Related Bills

  • S 117-2068: Minority Business Development Act of 2021
  • S 117-1255: Minority Business Resiliency Act of 2021
  • S 117-1749: Reaching America's Rural Minority Businesses Act of 2021
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingBusiness educationBusiness investment and capitalCommunity life and organizationCompetitiveness, trade promotion, trade deficitsCongressional oversightDepartment of CommerceEconomic performance and conditionsEducation programs fundingEmployee hiringExecutive agency funding and structureFederal officialsGovernment information and archivesGovernment studies and investigationsHigher educationInternet and video servicesInternet, web applications, social mediaManufacturingMarketing and advertisingMinority and disadvantaged businessesPublic contracts and procurementPublic-private cooperationRural conditions and developmentSmall businessSocial work, volunteer service, charitable organizationsTax-exempt organizationsTeaching, teachers, curriculaUser charges and fees