Legislation News & Report (TM) 

TheWeekInCongress.com (TM)

Managing America: Small Business

TheWeekInCongress.com (TM)

Week Ending June 22, 2006

H.R.2397 To reauthorize the women's entrepreneurial development programs of the Small Business Administration, and for other purposes.

The National Women’s Business Council will conduct a yearly study for Congress to evaluate the problems hindering the success of women entrepreneurs. A biannual progress report is also ordered.

The bill also authorizes the SBA Administrator to provide financial assistance to private nonprofit organizations to conduct projects for the benefit of women owned and operated small business concerns. The assistance will include financial assistance for training and counseling on how to apply for and secure business credit and investment capital, preparing and presenting financial statements and managing cash flow and other business financial operations. Management assistance regarding assessing markets and preparing and executing marketing plans and strategies is to be included along with locating contracting opportunities, negotiating contracts and utilizing public relations and advertising techniques.

The assistance would be available in tiers: one to conduct a 5-year project where such a project is yet to be conducted. The second would be a 3-year project where a first tier project is being completed and the third would be a 3-year project where a second tier project is being completed.

The third tier project would be based on total number of women served and the proportion of low income women and social-economic distribution as well as the proportion of socially or economically disadvantaged in the area. Other factors such as future fundraising plans and diversity of services provided would be included.

In the first and second year two Federal dollars would be matched by one non-Federal dollar based on a formula reflecting the percentage of population below median income. No further grants would be available after completion of the projects and all awards would be made public.

Sponsor:  Rep. Mary Fallin (OK-5^th)

Vote: Passed House by voice vote June 18, 2007

Cost to the taxpayers: "CBO estimates that implementing the provisions of H.R. 2397 would cost less than $500,000 per year. Enacting the bill would not affect direct spending or revenues."

Earmark Certification:   Not applicable to this bill

## All Rights Reserved. © 2007 TheWeekInCongress.com(TM)

No reproduction, language translation or distribution without written permission from TheWeekInCongress.com.(TM)