Week Ending April 30

TheWeekInCongress.com

Week Ending April 30, 2004

S 2267 Women's Sustainability Recovery Act of 2004

BRIEF

S-2267 amends the Small Business Act with respect to the women's business centers program. The change provides Small Business Administration funding authority for FY 2004 for nonprofit organizations that are conducting projects for the benefit of small businesses owned and controlled by women.

The bill Increases from 30 percent to 48 percent the amount of funds appropriated during FY 2004 that can be used in that fiscal year for sustaining women's business center projects.

Vote: Passed Senate by unanimous consent.

Cost to the taxpayer: The program is funded at $12.5 million for FY 2004.

MORE INFORMATION

The Women's Business Center program began in 1988 and was made permanent in 1997. Congress appropriated $2 million in 1989 and the funding grew to $12.5 million in 2004, According to the bill’s sponsor, Senator Olympia Snowe (R-ME) the program has helped to create or retain almost 7,000 jobs in the United States. “In fiscal year 2003, the Women's Business Center program increased its expected level of delivered services by 17 percent, providing counseling and assistance to more than 106,600 clients and thereby exceeding its initial goal of 88,540 clients,” Senator Snowe said. “In fiscal year 2002, centers reported clients realized a return of $161 in gross receipts for every dollar invested in the program,” she also said.

The program supports 53 centers in 34 states. ##