,i #aafth ,,congress #b;d ,session ,h4 ,r4 #ghdd ,,in ,,the ,,house ,,of ,,representatives ,july #bi1 #bjbj,mr4 ,panetta 7for himself1 ,mr4 ,garca of ,illinois1 ,ms4 ,snchez1 and ,mr4 ,gomez7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committee on ,small ,business1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to authorize the ,director of the ,minority ,business ,development ,agency of the ,department of ,commerce to provide assistance for nonprofit economic development organizations to provide services for low- and moderate-income individuals who are aspiring entrepreneurs or seeking employment and for owners of smaller businesses1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,community ,economic ,development ,center ,support ,act of #bjbj4 #b4 ,congressional findings ,the ,congress finds that1 in the ,united ,states-- 7#a7 the number of ,african-,american business owners dropped from #a4a million to #fdj1jjj1 or #da percent1 from ,february #bjbj to ,april #bjbj2 7#b7 the number of immigrant business owners dropped from #c4a million to #b million1 or #cf percent1 from ,february #bjbj to ,april #bjbj2 7#c7 the number of ,latinx business owners dropped from #b4a million to #a4d million1 or #cb percent1 from ,february #bjbj to ,april #bjbj2 7#d7 the number of ,asian-,american business owners dropped from #hij1jjj to #feg1jjj1 or #bf percent1 from ,february #bjbj to ,april #bjbj2 and 7#e7 the number of ,native ,american business owners dropped from #ab million to #i4g million1 or #ah percent1 from ,february #bjbj to ,april #bjbj4 #c4 ,program authority ,the ,director of the ,minority ,business ,development ,agency of the ,department of ,commerce shall carry out a program under this ,act to provide financial assistance1 through eligible intermediaries1 for providing financial and technical assistance to eligible minority-serving economic development organizations that provide services to benefit low- and moderate-income individuals who are aspiring entrepreneurs or seeking employment1 or both1 and to owners of businesses having annual revenues in an amount less than #ejj1jjj4 #d4 ,financial assistance 7a7 ,grants ,the ,director shall select1 and make grants under this ,act to1 multiple eligible intermediaries4 7b7 ,use of assistance by eligible intermediaries 7#a7 ,in general ,except as provided in paragraphs 7#b7 and 7#c71 an eligible intermediary that receives a grant under this ,act shall use the grant amounts to provide grants to eligible minority-serving community development organizations for use for carrying out economic development activities of such organizations1 including activities described in section #e7a77;,a74 7#b7 ,capacity building expenses ,an eligible intermediary that receives a grant under this ,act may use not more than #e percent of the grant to provide training and technical assistance activities designed primarily to build the capacity of eligible minority-serving economic development organizations4 7#c7 ,indirect expenses ,an eligible intermediary that receives a grant under this ,act may use not more than #e percent of the grant amounts for indirect expenses incurred in disbursing and administering such grants4 #e4 ,definitions ,for purposes of this ,act1 the following definitions shall apply3 7#a7 ,director ,the term ,director means the ,director of the ,minority ,business ,development ,agency of the ,department of ,commerce4 7#b7 ,eligible intermediary 7,a7 ,in general ,the term eligible intermediary means a nonprofit organization that-- 7i7 operates on a national basis2 7ii7 has demonstrated experience in delivering and administering grants and capacity-building support to eligible minority-serving economic development organizations2 and 7iii7 has a governing board or executive leadership that reasonably reflects the communities to be served by the organization with assistance provided pursuant to this section1 with respect to race1 ethnicity1 and tribal affiliation4 7,b7 ,exclusions ,such term does not include-- 7i7 any organization that has received funding through the ,small ,business ,development ,center1 ,women's ,business ,center1 or ,,score programs of the ,small ,business ,administration or the intermediary funding program of the ,department of ,housing and ,urban ,development under section #d of the ,,hud ,demonstration ,act of #aiic 7#db ,u4,s4,c4 #ihaf note72 or 7ii7 the ,neighborhood ,reinvestment ,corporation4 7#c7 ,eligible minority-serving economic development organization ,the term eligible minority-serving economic development organization means a nonprofit organization that-- 7,a7 has among its primary functions-- 7i7 providing technical assistance related to the formation1 operation1 and expansion of smaller businesses having annual revenues of less than #ejj1jjj2 7ii7 lending to and equity investment in small businesses to facilitate growth and sustainability2 and 7iii7 providing training1 skills development1 and technical assistance to aspiring entrepreneurs and individuals who are independent contractors for purposes of ,form #ajii of the ,internal ,revenue ,service2 and 7,b7 primarily serves low- and moderate-income persons and communities that are-- 7i7 ,african-,american and other ,black communities1 ,hispanic1 including ,afro-,latino communities1 ,asian and ,pacific ,american communities1 ,native ,hawaiian communities1 ,native ,american communities1 or ,alaskan ,native communities2 or 7ii7 immigrants or refugees1 as such terms are defined by the ,director4 #f4 ,other requirements ,the ,director shall by notice establish other such requirements as may be necessary to carry out the provisions of this ,act and such notice shall take effect upon issuance4 #g4 ,authorization of appropriations ,there is authorized to be appropriated to the ,director #ge1jjj1jjj for grants under this ,act4