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Minority Business Resiliency Act of 2021

USA117th CongressS-1255| Senate 
| Updated: 4/20/2021
Benjamin L. Cardin

Benjamin L. Cardin

Democratic Senator

Maryland

Cosponsors (21)
Tammy Duckworth (Democratic)Dianne Feinstein (Democratic)Catherine Cortez Masto (Democratic)Richard J. Durbin (Democratic)Charles E. Schumer (Democratic)Ben Ray Luján (Democratic)Alex Padilla (Democratic)Christopher A. Coons (Democratic)Kyrsten Sinema (Independent)Jacky Rosen (Democratic)Chris Van Hollen (Democratic)Tina Smith (Democratic)Bernard Sanders (Independent)Maria Cantwell (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Robert Menendez (Democratic)Jeff Merkley (Democratic)Raphael G. Warnock (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Commerce, Science, and Transportation 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

S 116-4208
Minority Business Resiliency Act of 2020
Apr 20, 2021
Introduced in Senate
Apr 20, 2021
Read twice and referred to the Committee on Commerce, Science, and Transportation.
Jun 23, 2021

Latest Companion Bill Action

HR 117-2689
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
  • Bill from Previous Congress

    S 116-4208
    Minority Business Resiliency Act of 2020


  • April 20, 2021
    Introduced in Senate


  • April 20, 2021
    Read twice and referred to the Committee on Commerce, Science, and Transportation.


  • June 23, 2021

    Latest Companion Bill Action

    HR 117-2689
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.

Commerce

Related Bills

  • S 117-2068: Minority Business Development Act of 2021
  • HR 117-2689: Minority Business Resiliency 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 CongressS-1255| Senate 
| Updated: 4/20/2021
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

S 116-4208
Minority Business Resiliency Act of 2020
Apr 20, 2021
Introduced in Senate
Apr 20, 2021
Read twice and referred to the Committee on Commerce, Science, and Transportation.
Jun 23, 2021

Latest Companion Bill Action

HR 117-2689
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
  • Bill from Previous Congress

    S 116-4208
    Minority Business Resiliency Act of 2020


  • April 20, 2021
    Introduced in Senate


  • April 20, 2021
    Read twice and referred to the Committee on Commerce, Science, and Transportation.


  • June 23, 2021

    Latest Companion Bill Action

    HR 117-2689
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Benjamin L. Cardin

Benjamin L. Cardin

Democratic Senator

Maryland

Cosponsors (21)
Tammy Duckworth (Democratic)Dianne Feinstein (Democratic)Catherine Cortez Masto (Democratic)Richard J. Durbin (Democratic)Charles E. Schumer (Democratic)Ben Ray Luján (Democratic)Alex Padilla (Democratic)Christopher A. Coons (Democratic)Kyrsten Sinema (Independent)Jacky Rosen (Democratic)Chris Van Hollen (Democratic)Tina Smith (Democratic)Bernard Sanders (Independent)Maria Cantwell (Democratic)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Robert Menendez (Democratic)Jeff Merkley (Democratic)Raphael G. Warnock (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Commerce, Science, and Transportation Committee

Commerce

Related Bills

  • S 117-2068: Minority Business Development Act of 2021
  • HR 117-2689: Minority Business Resiliency 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