This bill, known as the Supporting NEW BUSINESSES Act, requires the Administrator of the Small Business Administration (SBA) to establish an annual awards program recognizing State and local governments. The program aims to honor entities that implement innovative and effective policies or tools to streamline the process of forming small businesses within their communities. Three awards will be provided annually, specifically categorized by community population size: one for communities of 400,000 or more, one for communities between 100,000 and 400,000, and one for communities under 100,000 individuals. Governments must submit an application to be considered, detailing their efforts to improve business formation. The SBA will evaluate applications based on criteria such as reducing paperwork, consolidating resources like online portals, and minimizing jurisdictional duplication to make the process more efficient.