US Congress Senate Bill 2149 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on July 17 2019 - 25% progression, died in committee
Action: 2019-07-17 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]

Requires the Small Business Administration to develop and implement a program to award cash grants of up to $100,000 to organizations that support new small businesses. These awards may be used for construction costs, space acquisition, and programmatic purposes, but they may not be used to provide capital or professional services to small businesses directly or through the subaward of funds. The organization must have the support of new small businesses as a primary purpose and be often classified as an accelerator. The term accelerator means an organization that (1) frequently provides, but is not exclusively designed to provide, seed investment in exchange for a small amount of equity; (2) works with a startup for a predetermined amount of time; (3) provides mentorship and instruction to scale businesses; or (4) offers startup capital or the opportunity to raise capital from outside investors.

SOAR Act Startup Opportunity Accelerator Act of 2019

Sen. Cory Booker [D-NJ]

Date	Chamber	Action
2019-07-17	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/2149/all-info
Text	https://www.congress.gov/116/bills/s2149/BILLS-116s2149is.pdf