This bill aims to enhance State-administered self-employment assistance programs by modifying existing rules in the Internal Revenue Code. A significant change is the elimination of the requirement that individuals must be likely to exhaust their regular unemployment compensation before participating, potentially expanding access to these programs. Furthermore, the bill redefines the scope of required self-employment assistance activities . These activities must now be approved by the State agency and either encompass entrepreneurial training, business counseling, and technical assistance, or be conducted according to an individual's approved business plan and market feasibility study. The legislation mandates that the Secretary of Labor issue regulations to administer these changes and provide guidance to State workforce agencies. This guidance will include a model list of qualifying activities and best practices for verifying their completion, with the amendments taking effect two years after enactment.