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Bill > S2717
US S2717
US S2717UPLIFT Act of 2019 Ushering Progress by Leveraging Innovation and Future Technology Act of 2019
summary
Introduced
10/28/2019
10/28/2019
In Committee
10/28/2019
10/28/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Small Business Act to spur entrepreneurial ecosystems in underserved communities. This bill requires the Small Business Administration (SBA) to establish the Innovation Centers Program for providing assistance to startups and new or growing small businesses. Under the program, the SBA may enter into cooperative agreements to provide financial assistance to historically Black colleges and universities, minority-serving institutions, and community colleges. Such entities shall then undertake five-year projects operating as an innovation-focused small business accelerator or incubator. Projects must involve working with underserved groups, include the joint provision of programs and services by the entities and the SBA, and ensure participating small businesses have access to regulatory information that affects them.
AI Summary
This bill, the Ushering Progress by Leveraging Innovation and Future Technology (UPLIFT) Act of 2019, amends the Small Business Act to establish the Innovation Centers Program. The program allows the Small Business Administration (SBA) to enter into cooperative agreements with historically Black colleges and universities, minority-serving institutions, and community colleges to operate small business accelerators or incubators for startup, newly established, and growing small businesses, particularly in underserved communities. The program aims to spur economic growth, increase success rates for small businesses, help create a pipeline into high-growth sectors, and address the decline in new business creation. The bill provides funding and criteria for the program, and requires the SBA to provide training, technical assistance, and annual reporting on the program's activities and impact.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Read twice and referred to the Committee on Small Business and Entrepreneurship. (on 10/28/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/2717/all-info |
| BillText | https://www.congress.gov/116/bills/s2717/BILLS-116s2717is.pdf |
| Bill | https://www.congress.gov/116/bills/s2717/BILLS-116s2717is.pdf.pdf |
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