,i #aad? ,,congress #a/ ,session ,h4 ,r4 #gc ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,janu>y #f1 #bjae ,ms4 ,jackson ,lee introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,education & ! ,work=ce ,a ,,bill ,to e/abli% a grant program = /ip5ds to assi/ 9 ! co/ ( comp5sation paid by employ]s to c]ta9 rec5t college graduates & to provide fund+ = _! fur!r education 9 subjects relat+ to ma!matics1 sci5ce1 eng9e]+1 & te*nology4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,am]ica ,realiz+ ! ,in=mational ,skills & ,initiative ( ,new ,graduates ,act ( #bjae or ,am]ica ,,ris+ ,act ( #bjae4 #b4 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,accord+ to ! ,bureau ( ,labor ,/ati/ics1 9 #bjab ! national unemploym5t rate = individuals ages #be ye>s & old] ) a ba*elor's degree 0 #d4e p]c5t & #f4b p]c5t = individuals ) an associate's degree4 ,= college graduates ages #ah to #be ! national unemploym5t rate 9 #bjab 0 high] at #g4g p]c5t4 ,because ! typical college graduates leaves college ow+ an av]age ( #bi1djj 9 /ud5t loan debt1 a rate t has increas$ #f p]c5t e ye> s9ce #bjjh1 ! curr5t job m>ket (f]s exce$+ly few opportunities = su* graduates to obta9 employm5t at a sal>y adequate to s]vice _! college loan debt4 7#b7 ,!re are m ?an #bf million small bus9esses 9 ! ,unit$ ,/ates4 ,9 ! curr5t economic climate1 ^! small bus9esses are exp]i5c+ difficulty 9 f9d+ ! res\rces ne$$ to increase sales1 mod]nize op]ations1 & hire new employees4 7#c7 ,rec5t college graduates ne$ ! exp]i5ce t c be obta9$ only 9 ! workplace to ref9e _! skills & develop ! entrepr5eurial qualities t c lead to ! creation ( new bus9esses & jobs4 7#d7 ,exi/+ small bus9esses & companies w b5efit f ! in=mation & te*nology skills possess$ by _m ( ! ,nation's rec5t college graduates4 7#e7 ,enabl+ rec5t college graduates to obta9 employm5t ) small bus9esses b5efits ! national economy by provid+ su* bus9esses ! human capital & te*nical exp]tise ne$$ to compete & w9 9 ! global economy ( ! #ba/ c5tury4 #c4 ,e/abli%m5t ( ,am]ica ,,ris+ program 7a7 ,e/abli%m5t ,! ,secret>y ( ,labor & ! ,secret>y ( ,education %all1 jo9tly1 e/abli% a program "u :i*-- 7#a7 grants are paid to eligible employ]s to defray ! co/ ( comp5sation paid by su* employ]s to rec5t college graduates2 & 7#b7 grants are paid to rec5t college graduates to enable su* graduates to defray ! co/ ( und]tak+ fur!r po/second>y c\rses at an in/itution ( high] education = up to #bd mon?s 9 subjects relat+ to ma!matics1 sci5ce1 eng9e]+1 or te*nology4 7b7 ,t]ms & conditions 7#a7 ,9 g5]al ,a grant "u ?is section may be made on su* t]ms & conditions z ! ,secret>y may det]m9e4 7#b7 ,def]ral ( ,f$]al /ud5t loan obligations ,ea* rec5t college graduate p>ticipat+ 9 ! program "u ?is section 7by b5efitt+ f a grant aw>d$ "u p>agraph 7#a71 or receiv+ a grant "u p>agraph 7#b71 ( subsection 7a77 may def] paym5t on ,f$]al /ud5t loans made to ! graduate "u title ,,iv ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajgj et seq47 = ! p]iod ( ! graduate's p>ticipation 9 ! program4 7#c7 ,grants to eligible employ]s ,) respect to a grant aw>d$ "u subsection 7a77#a7-- 7,a7 an eligible employ]-- 7i7 may use ! grant to defray ! co/ ( comp5sation = n m ?an #b rec5t college graduates2 & 7ii7 %all provide a comp5sation am\nt to ea* rec5t college graduate p>ticipat+ 9 ! program t is equal to or great] ?an ! grant am\nt receiv$ by ! employ] = ! graduate2 & 7,b7 ! ,secret>y may n aw>d an eligible employ] m ?an #be1jjj p] rec5t college graduate4 7#d7 ,grants to rec5t college graduates ,) respect to a grant aw>d$ "u subsection 7a77#b7 to a rec5t college graduate1 ! graduate %all be eligible to receive ,f$]al /ud5t aid "u title ,,iv ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajgj et seq47 )\t reg>d to :e!r ! graduate has be5 or is del9qu5t on any ,f$]al /ud5t loans made to ! graduate "u su* title ,,iv 7#bj ,u4,s4,c4 #ajgj et seq474 7c7 ,def9itions ,9 ?is section3 7#a7 ,eligible employ] ,! t]m eligible employ] means an employ] t-- 7,a7 is a small bus9ess conc]n2 or 7,b7 is a major corporation t has an op]ation locat$ 9-- 7i7 an ent]prise zone2 or 7ii7 an area 9 :i*1 accord+ to ! mo/ rec5t data available1 ! unemploym5t rate exce$s ! national av]age unemploym5t rate by m ?an two p]c5tage po9ts4 7#b7 ,ent]prise zone ,! t]m ent]prise zone has ! mean+ giv5 ! t]m ,h,u,bzone 9 section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb74 7#c7 ,in/itution ( high] education ,except z provid$ 9 p>agraph 7#c77;,b71 ! t]m in/itution ( high] education has ! mean+ giv5 ! t]m 9 section #aja ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajja74 7#d7 ,major corporation ,! t]m major corporation means an employ] t e>ns an annual rev5ue ( n less ?an #e1jjj1jjj & employs n less ?an #ej employees4 7#e7 ,rec5t college graduate 7,a7 ,9 g5]al ,! t]m rec5t college graduate means an individual-- 7i7 :o has receiv$ a baccalaureate or associate degree f an in/itution ( high] education on or aft] ! date t is #bd mon?s be=e ! grant b5efitt+ ! graduate is aw>d$ "u ?is section2 & 7ii7 :o has n previ\sly receiv$ any su* baccalaureate or associate degree4 7,b7 ,in/itution ( high] education ,9 subp>agraph 7,a71 ! t]m in/itution ( high] education has ! mean+ giv5 su* t]m 9 section #ajb ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajjb74 7#f7 ,small bus9ess conc]n ,! t]m small bus9ess conc]n has ! mean+ giv5 su* t]m 9 section #c ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb74 7d7 ,au?orization ( appropriations 7#a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ to c>ry out ?is ,act #ajj1jjj1jjj = ea* ( ! fiscal ye>s #bjaf1 #bjag1 & #bjah4 7#b7 ,availability ,funds appropriat$ "u p>agraph 7#a7 %all rema9 available until exp5d$4