,,ii #aafth ,,congress #b;d ,session ,s4 #dbjh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #b1 #bjbj,mr4 ,cardin 7for himself1 ,ms4 ,cantwell1 ,mr4 ,booker1 ,ms4 ,harris1 ,mr4 ,schumer1 and ,ms4 ,cortez ,masto7 introduced the following bill2 which was read twice and referred to the ,committee on ,commerce1 ,science1 and ,transportation ,a ,,bill ,to require the ,minority ,business ,development ,agency of the ,department of ,commerce to promote and administer programs in the public and private sectors to assist the development of minority business enterprises1 to ensure that such ,agency has the necessary supporting resources1 particularly during economic downturns1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,minority ,business ,resiliency ,act of #bjbj4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,sec4 #b4 ,findings and purposes4,sec4 #c4 ,definitions4,sec4 #d4 ,minority ,business ,development ,agency4,,title ,i--,,covid-#ai rapid response,sec4 #aja4 ,emergency appropriation4,,title ,,ii--,existing initiatives,subtitle ,a--,market development1 research1 and information,sec4 #bja4 ,private sector development4,sec4 #bjb4 ,public sector development4,sec4 #bjc4 ,research and information4,subtitle ,b--,minority ,business ,development ,center ,program,sec4 #baj4 ,purpose4,sec4 #baa4 ,definitions4,sec4 #bab4 ,establishment4,sec4 #bac4 ,cooperative agreements4,sec4 #bad4 ,minimizing disruptions to existing ,business ,centers program4,sec4 #bae4 ,publicity4,sec4 #baf4 ,authorization of appropriations4,,title ,,iii--,new initiatives to promote economic resiliency for minority businesses,sec4 #cja4 ,annual diverse business forum on capital formation4,sec4 #cjb4 ,agency study on alternative financing solutions4,sec4 #cjc4 ,educational development relating to management and entrepreneurship4,,title ,,iv--,administrative and other powers of the ,agency2 miscellaneous provisions,sec4 #dja4 ,administrative powers4,sec4 #djb4 ,financial assistance4,sec4 #djc4 ,audits4,sec4 #djd4 ,review and report by ,comptroller general4,sec4 #dje4 ,annual reports2 recommendations4,sec4 #djf4 ,separability4,sec4 #djg4 ,executive ,order #aafbe4,sec4 #djh4 ,amendment to the ,federal ,acquisition ,streamlining ,act of #aiid4 #b4 ,findings and purposes 7a7 ,findings ,congress finds the following3 7#a7 ,during times of economic downturn or recession1 communities of color1 and businesses within those communities1 are generally more adversely affected1 which requires an expansion of the ability of the ,federal ,government to infuse resources into those communities4 7#b7 ,despite the growth in the number of minority business enterprises1 gaps remain with respect to key metrics for those enterprises1 such as access to capital1 revenue1 number of employees1 and survival rate4 ,specifically-- 7,a7 according to the ,department of ,commerce1 minority business enterprises are #b to #c times more likely to be denied loans than non-minority business enterprises2 7,b7 according to the ,bureau of the ,census1 the average non-minority business enterprise reports receipts that are more than #c times higher than receipts reported by the average minority business enterprise2 and 7,c7 according to the ,kauffman ,foundation-- 7i7 minority business enterprises are #a_/b as likely to employ individuals1 as compared with non-minority business enterprises2 and 7ii7 if minorities started and owned businesses at the same rate as non-minorities1 the ,united ,states economy would have more than #a1jjj1jjj additional employer businesses and more than #i1ejj1jjj additional jobs4 7#c7 ,because of the conditions described in paragraph 7#b71 it is in the interest of the ,united ,states and the economy of the ,united ,states to expeditiously ameliorate the disparities that minority business enterprises experience4 7#d7 ,many individuals who own minority business enterprises are socially disadvantaged because those individuals identify as members of certain groups that have suffered the effects of discriminatory practices or similar circumstances over which those individuals have no control1 including individuals who are-- 7,a7 ,black or ,african ,american2 7,b7 ,hispanic or ,latino2 7,c7 ,american ,indian or ,alaska ,native2 7,d7 ,asian2 and 7,e7 ,native ,hawaiian or other ,pacific ,islander4 7#e7 ,discriminatory practices and similar circumstances described in paragraph 7#d7 are a significant determinant of overall economic disadvantage in the ,united ,states1 which is evident in the persistent racial wealth gap in the ,united ,states4 7#f7 ,while other ,federal agencies focus only on small businesses and businesses that represent a broader demographic than solely minority business enterprises1 the ,agency focuses exclusively on-- 7,a7 the unique needs of minority business enterprises2 and 7,b7 enhancing the capacity of minority business enterprises4 7b7 ,purposes ,the purposes of this ,act are to-- 7#a7 require the ,agency to promote and administer programs in the public and private sectors to assist the development of minority business enterprises2 and 7#b7 achieve the development described in paragraph 7#a7 by authorizing the ,assistant ,secretary to carry out programs that will result in increased access to capital1 management1 and technology for minority business enterprises4 #c4 ,definitions ,in this ,act3 7#a7 ,agency ,the term ,agency means the ,minority ,business ,development ,agency of the ,department of ,commerce4 7#b7 ,assistant ,secretary ,the term ,assistant ,secretary means the ,assistant ,secretary of ,commerce for ,minority ,business ,development who is appointed as described in section #d7;b7 to administer this ,act4 7#c7 ,federal agency ,the term ,federal agency has the meaning given the term agency in section #eea of title #e1 ,united ,states ,code4 7#d7 ,federally recognized area of economic distress ,the term federally recognized area of economic distress means-- 7,a7 a ,h,u,b,zone1 as that term is defined in section #ca7;b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #feg;a7b772 7,b7 an area that-- 7i7 has been designated as-- 7,i7 an empowerment zone under section #acia of the ,internal ,revenue ,code of #aihf2 or 7,,ii7 a ,promise ,zone by the ,secretary of ,housing and ,urban ,development2 or 7ii7 is a low or moderate income area1 as determined by the ,bureau of the ,census2 7,c7 a qualified opportunity zone1 as that term is defined in section #adjj,z-#a of the ,internal ,revenue ,code of #aihf2 or 7,d7 any other political subdivision or unincorporated area of a ,state determined by the ,assistant ,secretary to be an area of economic distress4 7#e7 ,indian ,tribe 7,a7 ,in general ,subject to subparagraph 7,b71 the term ,indian ,tribe has the meaning given the term ,indian tribe in section #d of the ,indian ,self-,determination and ,education ,assistance ,act 7#be ,u4,s4,c4 #ecjd74 7,b7 ,native ,hawaiian organization ,the term ,indian ,tribe includes a ,native ,hawaiian organization4 7#f7 ,institution of higher education ,the term institution of higher education has the meaning given the term in section #aja of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajja74 7#g7 ,minority business enterprise ,the term minority business enterprise means a for-profit business enterprise-- 7,a7 that is not less than #ea percent-owned by #a or more socially disadvantaged individuals2 and 7,b7 the management and daily business operations of which are controlled by #a or more socially disadvantaged individuals4 7#h7 ,private sector entity ,the term private sector entity-- 7,a7 means an entity that is not a public sector entity2 and 7,b7 does not include-- 7i7 the ,federal ,government2 7ii7 any ,federal agency2 or 7iii7 any instrumentality of the ,federal ,government4 7#i7 ,public sector entity ,the term public sector entity means-- 7,a7 a ,state2 7,b7 an agency of a ,state2 7,c7 a political subdivision of a ,state2 or 7,d7 an agency of a political subdivision of a ,state4 7#aj7 ,secretary ,the term ,secretary means the ,secretary of ,commerce4 7#aa7 ,socially disadvantaged individual 7,a7 ,in general ,the term socially disadvantaged individual means an individual who has been subjected to racial or ethnic prejudice or cultural bias because of the identity of the individual as a member of a group1 without regard to any individual quality of the individual that is unrelated to that identity4 7,b7 ,presumption ,in carrying out this ,act1 the ,assistant ,secretary shall presume that the term socially disadvantaged individual includes any individual who is-- 7i7 ,black or ,african ,american2 7ii7 ,hispanic or ,latino2 7iii7 ,american ,indian or ,alaska ,native2 7iv7 ,asian2 7v7 ,native ,hawaiian or other ,pacific ,islander2 or 7vi7 a member of a group that the ,minority ,business ,development ,agency determines under part #adjj of title #ae1 ,code of ,federal ,regulations1 as in effect on ,november #bc1 #aihd1 is a socially disadvantaged group eligible to receive assistance4 7#ab7 ,state ,the term ,state means-- 7,a7 each of the ,states of the ,united ,states2 7,b7 the ,district of ,columbia2 7,c7 the ,commonwealth of ,puerto ,rico2 7,d7 the ,united ,states ,virgin ,islands2 7,e7 ,guam2 7,f7 ,american ,samoa2 7,g7 the ,commonwealth of the ,northern ,mariana ,islands2 and 7,h7 each ,indian ,tribe4 #d4 ,minority ,business ,development ,agency 7a7 ,in general ,there is within the ,department of ,commerce the ,minority ,business ,development ,agency4 7b7 ,assistant ,secretary 7#a7 ,appointment and duties ,the ,agency shall be headed by an ,assistant ,secretary of ,commerce for ,minority ,business ,development1 who shall be-- 7,a7 appointed by the ,president1 by and with the advice and consent of the ,senate2 and 7,b7 except as otherwise expressly provided1 responsible for the administration of this ,act4 7#b7 ,compensation ,the ,assistant ,secretary shall be compensated at an annual rate of basic pay prescribed for level ,,iv of the ,executive ,schedule under section #ecae of title #e1 ,united ,states ,code4 7c7 ,report to ,congress ,not later than #abj days after the date of enactment of this ,act1 the ,secretary shall submit to ,congress a report that describes-- 7#a7 the organizational structure of the ,agency2 7#b7 the organizational position of the ,agency within the ,department of ,commerce2 and 7#c7 a description of how the ,agency shall function in relation to the operations carried out by each other component of the ,department of ,commerce4 7d7 ,office of ,business ,centers 7#a7 ,establishment ,there is established within the ,agency an ,office of ,business ,centers4 7#b7 ,director ,the ,office of ,business ,centers shall be administered by a ,director1 who shall be appointed by the ,assistant ,secretary4 7e7 ,offices of the ,agency 7#a7 ,in general ,the ,assistant ,secretary shall establish such other offices within the ,agency as are necessary to carry out this ,act4 7#b7 ,regional offices 7,a7 ,in general ,in order to carry out this ,act1 the ,assistant ,secretary may establish a regional office of the ,agency for each of the regions of the ,united ,states1 as determined by the ,assistant ,secretary4 7,b7 ,duties ,each regional office established under subparagraph 7,a7 shall expand the reach of the ,agency and enable the ,federal ,government to better serve the needs of minority business enterprises in the region served by the office1 including by-- 7i7 understanding and participating in the business environment of that region2 7ii7 working with-- 7,i7 ,centers1 as that term is defined in section #baa1 that are located in that region2 and 7,,ii7 resource and lending partners of the ,small ,business ,administration that are located in that region2 7iii7 being aware of business retention or expansion programs specific to that region2 7iv7 seeking out opportunities to collaborate with regional public and private programs that focus on minority business enterprises2 and 7v7 promoting business continuity and preparedness4 ,i ,,covid-#ai ,,rapid ,,response #aja4 ,emergency appropriation 7a7 ,in general ,there is appropriated to the ,agency for fiscal year #bjbj1 out of any money in the ,treasury not otherwise appropriated1 #fj1jjj1jjj to provide assistance to minority business enterprises affected by the economic downturn caused by the ,,covid-#ai pandemic1 which shall remain available until expended4 7b7 ,emergency requirement ,the amount provided by this section is designated by the ,congress as being for an emergency requirement pursuant to section #bea7;b77#b77;,a77i7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe4 ,,ii ,,existing ,,initiatives ,a ,market development1 research1 and information #bja4 ,private sector development ,the ,assistant ,secretary shall1 whenever the ,assistant ,secretary determines such action is necessary or appropriate-- 7#a7 assist minority business enterprises to penetrate domestic and foreign markets by making available to those business enterprises1 either directly or in cooperation with private sector entities1 including community-based organizations and national nonprofit organizations-- 7,a7 resources relating to management2 7,b7 technological assistance2 7,c7 financial and marketing services2 and 7,d7 services relating to workforce development2 7#b7 encourage minority business enterprises to establish joint ventures and projects-- 7,a7 with other minority business enterprises2 or 7,b7 in cooperation with public sector entities or private sector entities1 including community-based organizations and national nonprofit organizations1 to increase the share of any market activity being performed by minority business enterprises2 and 7#c7 facilitate the efforts of private sector entities and ,federal agencies to advance the growth of minority business enterprises4 #bjb4 ,public sector development ,the ,assistant ,secretary shall1 whenever the ,assistant ,secretary determines such action is necessary or appropriate-- 7#a7 consult and cooperate with public sector entities for the purpose of leveraging resources available in the jurisdictions of those public sector entities to promote the position of minority business enterprises in the local economies of those public sector entities1 including by assisting public sector entities to establish or enhance-- 7,a7 programs to procure goods and services through minority business enterprises and goals for that procurement2 7,b7 programs offering assistance relating to-- 7i7 management2 7ii7 technology2 7iii7 financing2 7iv7 marketing2 and 7v7 workforce development2 and 7,c7 informational programs designed to inform minority business enterprises located in the jurisdictions of those public sector entities about the availability of programs described in this section2 7#b7 meet with leaders and officials of public sector entities for the purpose of recommending and promoting local administrative and legislative initiatives needed to advance the position of minority business enterprises in the local economies of those public sector entities2 and 7#c7 facilitate the efforts of public sector entities and ,federal agencies to advance the growth of minority business enterprises4 #bjc4 ,research and information 7a7 ,in general ,in order to achieve the purposes of this ,act1 the ,assistant ,secretary-- 7#a7 shall-- 7,a7 collect and analyze data1 including data relating to the causes of the success or failure of minority business enterprises2 7,b7 perform evaluations of programs carried out by ,federal agencies with an emphasis on increasing coordination between ,federal agencies with respect to the development of minority business enterprises2 and 7,c7 conduct research1 studies1 and surveys of-- 7i7 economic conditions generally in the ,united ,states2 and 7ii7 how the conditions described in clause 7i7 particularly affect the development of minority business enterprises2 and 7#b7 may1 at the request of a public sector entity or a private sector entity1 perform an evaluation of programs carried out by the entity that are designed to assist the development of minority business enterprises4 7b7 ,information clearinghouse ,the ,assistant ,secretary shall-- 7#a7 establish and maintain an information clearinghouse for the collection and dissemination of demographic1 economic1 financial1 managerial1 and technical data relating to minority business enterprises2 and 7#b7 take such steps as the ,assistant ,secretary may determine to be necessary and desirable to search for1 collect1 classify1 coordinate1 integrate1 record1 and catalog the data described in paragraph 7#a74 ,b ,minority ,business ,development ,center ,program #baj4 ,purpose ,the purpose of the ,,mbdc ,program shall be to create a national network of public-private partnerships that-- 7#a7 assist minority business enterprises to-- 7,a7 access capital and contracts2 and 7,b7 create and maintain jobs2 7#b7 provide counseling and mentoring to minority business enterprises2 and 7#c7 facilitate the growth of minority business enterprises by promoting trade4 #baa4 ,definitions ,in this title3 7#a7 ,center ,the term ,center means an eligible entity that enters into an ,,mbdc agreement with the ,assistant ,secretary4 7#b7 ,eligible entity ,except as otherwise expressly provided1 the term eligible entity-- 7,a7 means-- 7i7 a private sector entity2 or 7ii7 a public sector entity2 and 7,b7 includes an institution of higher education4 7#c7 ,,mbdc agreement ,the term ,,mbdc agreement means a collaborative agreement entered into between the ,assistant ,secretary and a ,center under the ,,mbdc ,program4 7#d7 ,,mbdc ,program ,the term ,,mbdc ,program means the program established under section #bab4 #bab4 ,establishment 7a7 ,in general ,subject to subsection 7b71 there is established in the ,agency a program-- 7#a7 that shall be known as the ,minority ,business ,development ,centers ,program2 7#b7 that shall be separate and distinct from the efforts of the ,assistant ,secretary under section #bja2 and 7#c7 under which the ,assistant ,secretary shall enter into cooperative agreements with eligible entities under which1 in accordance with section #bac-- 7,a7 the eligible entities shall provide technical assistance and business development services to minority business enterprises2 and 7,b7 the ,assistant ,secretary shall provide financial assistance to the eligible entities to carry out the activities described in subparagraph 7,a74 7b7 ,coverage ,the ,assistant ,secretary shall take all necessary actions to ensure that the ,,mbdc ,program1 in accordance with section #bac1 offers the services described in subsection 7a77#c77;,a7 in all regions of the ,united ,states4 7c7 ,scope of authority ,the authority of the ,assistant ,secretary to enter into ,,mbdc agreements shall be effective each fiscal year only to the extent that amounts are made available to the ,assistant ,secretary under applicable appropriations ,acts4 #bac4 ,cooperative agreements 7a7 ,requirements ,a ,center shall1 using financial assistance awarded to the ,center under an ,,mbdc agreement-- 7#a7 provide to minority business enterprises programs and services determined to be appropriate by the ,assistant ,secretary1 which-- 7,a7 shall include referral services to meet the needs of minority business enterprises2 and 7,b7 may include programs and services to accomplish the goals described in section #bja7a72 7#b7 develop1 cultivate1 and maintain a network of strategic partnerships with organizations that foster access by minority business enterprises to economic markets or contracts2 7#c7 continue to upgrade and modify the services provided by the ,center1 as necessary1 in order to meet the changing and evolving needs of the business community2 7#d7 collaborate with other ,centers2 and 7#e7 in providing programs and services under the ,,mbdc agreement-- 7,a7 operate on a fee-for-service basis2 and 7,b7 generate income through the collection of-- 7i7 client fees2 7ii7 membership fees2 7iii7 success fees2 and 7iv7 any other appropriate fees proposed by the ,center in the application submitted by the ,center for the ,,mbdc agreement4 7b7 ,term ,subject to subsection 7g71 the term of an ,,mbdc agreement shall be #c years4 7c7 ,financial assistance 7#a7 ,minimum amount ,subject to paragraph 7#b71 the amount of financial assistance provided by the ,assistant ,secretary under an ,,mbdc agreement shall be not less than #bej1jjj for the term of the ,,mbdc agreement4 7#b7 ,additional amounts ,in determining whether to award financial assistance under an ,,mbdc agreement to a ,center in an amount greater than #bej1jjj1 the ,assistant ,secretary shall take into consideration the cost of living and the size of the population in the area in which the ,center is located4 7#c7 ,matching requirement 7,a7 ,in general ,a ,center shall match not less than #a_/c of the amount of the financial assistance awarded to the ,center under an ,,mbdc agreement4 7,b7 ,form of funds ,a ,center may meet the matching requirement under subparagraph 7,a7 using cash or in-kind contributions1 without regard to whether the contribution is made by a third party4 7#d7 ,use of financial assistance and program income ,a ,center shall use-- 7,a7 all financial assistance awarded to the ,center under an ,,mbdc agreement to carry out the requirements under subsection 7a72 and 7,b7 all income that the ,center generates in carrying out the requirements under subsection 7a7-- 7i7 to meet the matching requirement under paragraph 7#c7 of this subsection2 and 7ii7 if the ,center meets the matching requirement under paragraph 7#c7 of this subsection1 to carry out the requirements under subsection 7a74 7d7 ,criteria for selection ,the ,assistant ,secretary shall-- 7#a7 establish-- 7,a7 criteria that-- 7i7 the ,assistant ,secretary shall use in determining whether to enter into an ,,mbdc agreement with an eligible entity2 and 7ii7 may include criteria relating to whether an eligible entity is located in-- 7,i7 an area1 the population of which is composed of not less than #ea percent socially disadvantaged individuals2 7,,ii7 a federally recognized area of economic distress2 or 7,,iii7 a ,state that is underserved with respect to the ,,mbdc program1 as defined by the ,assistant ,secretary2 and 7,b7 standards relating to the consideration given to the criteria established under subparagraph 7,a72 and 7#b7 make the criteria and standards established under paragraph 7#a7 publicly available1 including-- 7,a7 on the website of the ,agency2 and 7,b7 in each solicitation for applications for ,,mbdc agreements4 7e7 ,applications ,an eligible entity desiring to enter into an ,,mbdc agreement shall submit to the ,assistant ,secretary an application that includes-- 7#a7 a statement of-- 7,a7 how the eligible entity will meet the requirements under subsection 7a72 and 7,b7 any experience of the eligible entity in-- 7i7 assisting minority business enterprises to-- 7,i7 obtain-- 7aa7 large-scale contracts or procurements2 or 7bb7 financing2 7,,ii7 access established supply chains2 and 7,,iii7 engage in-- 7aa7 joint ventures1 teaming arrangements1 and mergers and acquisitions2 or 7bb7 large-scale transactions in global markets2 and 7ii7 advocating for minority business enterprises2 and 7#b7 the budget and corresponding budget narrative that the eligible entity will use in carrying out the requirements under subsection 7a7 during the term of the ,,mbdc agreement4 7f7 ,notification ,if the ,assistant ,secretary grants an application of an eligible entity submitted under subsection 7e71 the ,assistant ,secretary shall notify the eligible entity that the application has been granted not later than #aej days after the last day on which an application may be submitted under that subsection4 7g7 ,program examination2 accreditation2 extensions 7#a7 ,examination ,not later than #ahj days after the date of enactment of this ,act1 and biennially thereafter1 the ,assistant ,secretary shall conduct a programmatic financial examination of each ,center4 7#b7 ,accreditation ,the ,assistant ,secretary may provide financial support1 by contract or otherwise1 to an association1 not less than #ea percent of the members of which are ,centers1 to-- 7,a7 pursue matters of common concern with respect to ,centers2 and 7,b7 develop an accreditation program with respect to ,centers4 7#c7 ,extensions 7,a7 ,in general ,the ,assistant ,secretary may extend the term under subsection 7b7 of an ,,mbdc agreement to which a ,center is a party to a term of #e years1 if the ,center consents to the extension4 7,b7 ,financial assistance ,if the ,assistant ,secretary extends the term of an ,,mbdc agreement under paragraph 7#a71 the ,assistant ,secretary shall1 in the same manner and amount in which financial assistance was provided during the initial term of the ,,mbdc agreement1 provide financial assistance under the ,,mbdc agreement during the extended term of the ,,mbdc agreement4 7h7 ,priority ,in entering into ,,mbdc agreements under the ,,mbdc ,program and extending ,,mbdc agreements under subsection 7g77#c71 the ,assistant ,secretary shall give priority to extending ,,mbdc agreements under subsection 7g77#c74 7i7 ,suspension1 termination1 and refusal ,to extend 7#a7 ,in general 7,a7 ,in general ,the ,assistant ,secretary may suspend1 terminate1 or refuse to extend the term of an ,,mbdc agreement on the basis of the poor performance by a ,center in meeting the performance goals established by the ,secretary under subparagraph 7,b74 7,b7 ,performance goals ,the ,assistant ,secretary shall establish performance goals by which to evaluate the performance of a ,center in meeting the requirements under subsection 7a74 7#b7 ,notice ,before suspending1 terminating1 or refusing to extend the term of an ,,mbdc agreement under paragraph 7#a71 the ,assistant ,secretary shall provide to the relevant ,center-- 7,a7 a written notice of the reasons for the suspension1 termination1 or refusal2 and 7,b7 an opportunity for a hearing1 appeal1 or other administrative proceeding to contest the suspension1 termination1 or refusal4 7j7 ,,mbda involvement ,the ,assistant ,secretary shall ensure that the ,agency is substantially involved in the activities of ,centers in carrying out the requirements under subsection 7a71 including by-- 7#a7 providing to each ,center training relating to the ,,mbdc ,program2 7#b7 requiring that the operator and staff of each ,center-- 7,a7 attend-- 7i7 a conference with the ,agency to establish the services and programs that the ,center will provide in carrying out the requirements before the date on which the ,center begins providing those services and programs2 and 7ii7 training provided under paragraph 7#a72 7,b7 receive necessary advising relating to carrying out the requirements under subsection 7a72 and 7,c7 work in coordination and collaboration with the ,assistant ,secretary to carry out the ,,mbdc ,program and other programs of the ,agency2 7#c7 facilitating connections between ,centers and-- 7,a7 ,federal agencies other than the ,agency1 including the ,small ,business ,administration and the ,economic ,development ,administration of the ,department of ,commerce2 and 7,b7 other institutions or entities that use ,federal resources1 including-- 7i7 small business development centers1 as that term is defined in section #c7t7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb7t772 7ii7 women's business centers described in section #bi of the ,small ,business ,act 7#ae ,u4,s4,c4 #fef72 7iii7 eligible entities1 as that term is defined in section #bdaa of title #aj1 ,united ,states ,code1 that provide services under the program carried out under chapter #adb of that title2 and 7iv7 entities participating in the ,hollings ,manufacturing ,extension ,partnership ,program established under section #be of the ,national ,institute of ,standards and ,technology ,act 7#ae ,u4,s4,c4 #bghk72 7#d7 monitoring projects carried out by each ,center2 and 7#e7 establishing and enforcing administrative and reporting requirements for each ,center to carry out the requirements under subsection 7a74 7k7 ,regulations ,the ,assistant ,secretary shall issue and publish regulations that establish minimum standards regarding verification of minority business enterprise status for clients of entities operating under the ,,mbdc ,program4 #bad4 ,minimizing disruptions to existing ,business ,centers program ,the ,assistant ,secretary shall ensure that each cooperative agreement entered into under the ,business ,centers program of the ,agency that is in effect on the day before the date of enactment of this ,act is carried out in a manner that1 to the greatest extent practicable1 prevents disruption of any activity carried out under the cooperative agreement4 #bae4 ,publicity ,in carrying out the ,,mbdc ,program1 the ,assistant ,secretary shall widely publicize the ,,mbdc ,program1 including-- 7#a7 on the website of the ,agency2 and 7#b7 via social media outlets4 #baf4 ,authorization of appropriations ,there are authorized to be appropriated to the ,assistant ,secretary #cj1jjj1jjj for each of fiscal years #bjba through #bjbd to carry out the ,,mbdc ,program1 including the component of the program relating to ,specialty ,centers4 ,,iii ,,new ,,initiatives ,,to ,,promote ,,economic ,,resiliency ,,for ,,minority ,,businesses #cja4 ,annual diverse business forum on capital formation 7a7 ,responsibility of ,agency ,not later than #ah months after the date of enactment of this ,act1 and annually thereafter1 the ,agency shall conduct a ,government-business forum to review the current status of problems and programs relating to capital formation by minority business enterprises4 7b7 ,participation in forum planning ,the ,assistant ,secretary shall invite the heads of other ,federal agencies1 such as the ,chairman of the ,securities and ,exchange ,commission1 the ,secretary of the ,treasury1 and the ,chairman of the ,board of ,governors of the ,federal ,reserve ,system1 organizations representing ,state securities commissioners1 representatives of leading minority chambers of commerce1 business organizations1 and professional organizations concerned with capital formation to participate in the planning of each forum conducted under subsection 7a74 7c7 ,preparation of statements and reports 7#a7 ,requests ,the ,assistant ,secretary may request that any head of a ,federal department1 agency1 or organization1 including those described in subsection 7b71 or any other group or individual1 prepare a statement or report to be delivered at any forum conducted under subsection 7a74 7#b7 ,cooperation ,any head of a ,federal department1 agency1 or organization who receives a request under paragraph 7#a7 shall1 to the greatest extent practicable1 cooperate with the ,assistant ,secretary to fulfill that request4 7d7 ,transmittal of proceedings and findings ,the ,assistant ,secretary shall-- 7#a7 prepare a summary of the proceedings of each forum conducted under subsection 7a71 which shall include the findings and recommendations of the forum2 and 7#b7 transmit the summary described in paragraph 7#a7 with respect to each forum conducted under subsection 7a7 to-- 7,a7 the participants in the forum2 7,b7 ,congress2 and 7,c7 the public1 through a publicly available website4 7e7 ,review of findings and recommendations2 public statements 7#a7 ,in general ,a ,federal agency to which a finding or recommendation described in subsection 7d77#a7 relates shall-- 7,a7 review that finding or recommendation2 and 7,b7 promptly after the finding or recommendation is transmitted under paragraph 7#b77;,c7 of subsection 7d71 issue a public statement-- 7i7 assessing the finding or recommendation2 and 7ii7 disclosing the action1 if any1 the ,federal agency intends to take with respect to the finding or recommendation4 7#b7 ,joint statement permitted ,if a finding or recommendation described in subsection 7d77#a7 relates to more than #a ,federal agency1 the applicable ,federal agencies may1 for the purposes of the public statement required under paragraph 7#a77;,b71 issue a joint statement4 #cjb4 ,agency study on alternative financing solutions 7a7 ,purpose ,the purpose of this section is to provide information relating to alternative financing solutions to minority business enterprises1 as those business enterprises are more likely to struggle in accessing1 particularly at affordable rates1 traditional sources of capital4 7b7 ,study and report ,not later than #a year after the date of enactment of this ,act1 the ,assistant ,secretary shall-- 7#a7 conduct a study on opportunities for providing alternative financing solutions to minority business enterprises2 and 7#b7 submit to ,congress1 and publish on the website of the ,agency1 a report describing the findings of the study carried out under paragraph 7#a74 #cjc4 ,educational development relating to management and entrepreneurship 7a7 ,duties ,the ,assistant ,secretary shall1 whenever the ,assistant ,secretary determines such action is necessary or appropriate-- 7#a7 promote and provide assistance for the education and training of socially disadvantaged individuals in subjects directly relating to business administration and management2 7#b7 join with1 and encourage1 institutions of higher education1 leaders in business and industry1 and other public sector and private sector entities1 particularly minority business enterprises1 to-- 7,a7 develop programs to offer scholarships and fellowships1 apprenticeships1 and internships relating to business to socially disadvantaged individuals2 and 7,b7 sponsor seminars1 conferences1 and similar activities relating to business for the benefit of socially disadvantaged individuals2 7#c7 stimulate and accelerate curriculum design and improvement in support of development of minority business enterprises2 and 7#d7 encourage and assist private institutions and organizations and public sector entities to undertake activities similar to the activities described in paragraphs 7#a71 7#b71 and 7#c74 7b7 ,parren ,j4 ,mitchell entrepreneurship education grants 7#a7 ,definition ,in this subsection1 the term eligible institution means an institution of higher education described in any of paragraphs 7#a7 through 7#g7 of section #cga7;a7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajfgq7a774 7#b7 ,grants ,the ,assistant ,secretary shall award grants to eligible institutions to develop and implement entrepreneurship curricula4 7#c7 ,requirements ,an eligible institution that receives a grant awarded under this subsection shall use the grant funds to-- 7,a7 develop a curriculum that includes training in various skill sets needed by contemporary successful entrepreneurs1 including-- 7i7 business management and marketing2 7ii7 financial management and accounting2 7iii7 market analysis2 7iv7 competitive analysis2 7v7 innovation2 7vi7 strategic planning2 and 7vii7 any other skill set that the eligible institution determines is necessary for the students served by the eligible institution and the community in which the eligible institution is located2 and 7,b7 implement the curriculum developed under subparagraph 7,a7 at the eligible institution4 7#d7 ,implementation timeline ,the ,assistant ,secretary shall establish and publish a timeline under which an eligible institution that receives a grant under this section shall carry out the requirements under paragraph 7#c74 7#e7 ,reports ,each year1 the ,assistant ,secretary shall submit to the ,committee on ,commerce1 ,science1 and ,transportation of the ,senate and the ,committee on ,energy and ,commerce of the ,house of ,representatives1 as part of the annual budget submission of the ,president under section #aaje7;a7 of title #ca1 ,united ,states ,code1 a report evaluating the awarding and use of grants under this subsection during the fiscal year immediately preceding the date on which the report is submitted1 which shall include1 with respect to that fiscal year-- 7,a7 a description of each curriculum developed and implemented under each grant awarded under this section2 7,b7 the date on which each grant awarded under this section was awarded2 and 7,c7 the number of eligible entities that were recipients of grants awarded under this section4 ,,iv ,,administrative ,,and ,,other ,,powers ,,of ,,the ,,agency2 ,,miscellaneous ,,provisions #dja4 ,administrative powers 7a7 ,in general ,in carrying out this ,act1 the ,assistant ,secretary may-- 7#a7 adopt and use a seal for the ,agency1 which shall be judicially noticed2 7#b7 hold hearings1 sit and act1 and take testimony as the ,assistant ,secretary may determine to be necessary or appropriate to carry out this ,act2 7#c7 acquire1 in any lawful manner1 any property that the ,assistant ,secretary may determine to be necessary or appropriate to carry out this ,act2 7#d7 make advance payments under grants1 contracts1 and cooperative agreements awarded under this ,act2 7#e7 enter into agreements with other ,federal agencies2 7#f7 coordinate with the heads of the ,offices of ,small and ,disadvantaged ,business ,utilization of ,federal agencies2 7#g7 require a coordinated review of all training and technical assistance activities that are proposed to be carried out by ,federal agencies in direct support of the development of minority business enterprises to-- 7,a7 ensure consistency with the purposes of this ,act2 and 7,b7 avoid duplication of existing efforts2 and 7#h7 prescribe such rules1 regulations1 and procedures as the ,agency may determine to be necessary or appropriate to carry out this ,act4 7b7 ,employment of certain experts and consultants 7#a7 ,in general ,in carrying out this ,act1 the ,assistant ,secretary may employ experts and consultants or organizations that are composed of experts or consultants1 as authorized under section #caji of title #e1 ,united ,states ,code4 7#b7 ,renewal of contracts ,the ,assistant ,secretary may annually renew a contract for employment of an individual employed under paragraph 7#a74 7c7 ,donation of property 7#a7 ,in general ,subject to paragraph 7#b71 in carrying out this ,act1 the ,assistant ,secretary may1 without cost 7except for costs of care and handling71 donate for use by any public sector entity1 or by any recipient nonprofit organization1 for the purpose of the development of minority business enterprises1 any real or tangible personal property acquired by the ,agency in carrying out this ,act4 7#b7 ,terms1 conditions1 reservations1 and restrictions ,the ,assistant ,secretary may impose reasonable terms1 conditions1 reservations1 and restrictions upon the use of any property donated under paragraph 7#a74 #djb4 ,financial assistance 7a7 ,in general 7#a7 ,provision of financial assistance ,to carry out sections #bja1 #bjb1 and #bjc7;a71 the ,assistant ,secretary may provide financial assistance to public sector entities and private sector entities in the form of contracts1 grants1 or cooperative agreements4 7#b7 ,notice ,not later than #abj days before the first day of each fiscal year1 the ,assistant ,secretary shall1 in accordance with subsection 7b71 broadly publish a statement regarding financial assistance that will1 or may1 be made available under paragraph 7#a7 in the first fiscal year that begins after the date on which the statement is published1 including-- 7,a7 the actual1 or anticipated1 amount of financial assistance that will1 or may1 be made available2 7,b7 the types of financial assistance that will1 or may1 be made available2 7,c7 the manner in which financial assistance will be allocated among public sector entities and private sector entities1 as applicable2 and 7,d7 the methodology used by the ,assistant ,secretary to make allocations under subparagraph 7,c74 7#c7 ,consultation ,the ,assistant ,secretary shall consult with public sector entities and private sector entities1 as applicable1 in deciding the amounts and types of financial assistance to make available under paragraph 7#a74 7b7 ,publicity ,in carrying out this section1 the ,assistant ,secretary shall broadly publicize all opportunities for financial assistance available under this section1 including-- 7#a7 on the website of the ,agency2 and 7#b7 via social media outlets4 #djc4 ,audits 7a7 ,recordkeeping requirement ,each recipient of assistance under this ,act shall keep such records as the ,assistant ,secretary shall prescribe1 including records that fully disclose1 with respect to the assistance received by the recipient under this ,act-- 7#a7 the amount and nature of that assistance2 7#b7 the disposition by the recipient of the proceeds of that assistance2 7#c7 the total cost of the undertaking for which the assistance is given or used2 7#d7 the amount and nature of the portion of the cost of the undertaking described in paragraph 7#c7 that is supplied by a source other than the ,agency2 and 7#e7 any other records that will facilitate an effective audit of the assistance4 7b7 ,access by ,government officials ,the ,assistant ,secretary1 the ,inspector ,general of the ,department of ,commerce1 and the ,comptroller ,general of the ,united ,states1 or any duly authorized representative of any such individual1 shall have access1 for the purpose of audit1 investigation1 and examination1 to any book1 document1 paper1 record1 or other material of a recipient of assistance under this ,act that pertains to the assistance received by the recipient under this ,act4 #djd4 ,review and report by ,comptroller ,general ,not later than #d years after the date of enactment of this ,act1 the ,comptroller ,general of the ,united ,states shall-- 7#a7 conduct a thorough review of the programs carried out under this ,act2 and 7#b7 submit to ,congress a detailed report of the findings of the ,comptroller ,general of the ,united ,states under the review carried out under paragraph 7#a71 which shall include-- 7,a7 an evaluation of the effectiveness of the programs in achieving the purposes of this ,act2 7,b7 a description of any failure by any recipient of assistance under this ,act to comply with the requirements under this ,act2 and 7,c7 recommendations for any legislative or administrative action that should be taken to improve the achievement of the purposes of this ,act4 #dje4 ,annual reports2 recommendations 7a7 ,annual report ,not later than #ij days after the last day of each fiscal year1 the ,assistant ,secretary shall submit to ,congress1 and publish on the website of the ,agency1 a report of each activity of the ,agency carried out under this ,act during the fiscal year preceding the date on which the report is submitted4 7b7 ,recommendations ,the ,assistant ,secretary shall periodically submit to ,congress and the ,president recommendations for legislation or other actions that the ,assistant ,secretary determines to be necessary or appropriate to promote the purposes of this ,act4 #djf4 ,separability ,if a provision of this ,act1 or the application of a provision of this ,act to any person or circumstance1 is held by a court of competent jurisdiction to be invalid1 that judgment-- 7#a7 shall not affect1 impair1 or invalidate-- 7,a7 any other provision of this ,act2 or 7,b7 the application of this ,act to any other person or circumstance2 and 7#b7 shall be confined in its operation to-- 7,a7 the provision of this ,act with respect to which the judgment is rendered2 or 7,b7 the application of the provision of this ,act to each person or circumstance directly involved in the controversy in which the judgment is rendered4 #djg4 ,executive ,order #aafbe ,the powers and duties of the ,agency shall be determined-- 7#a7 in accordance with this ,act and the requirements of this ,act2 and 7#b7 without regard to ,executive ,order #aafbe 7#cf ,fed4 ,reg4 #aiifg2 relating to prescribing additional arrangements for developing and coordinating a national program for minority business enterprise74 #djh4 ,amendment to the ,federal ,acquisition ,streamlining ,act of #aiid ,section #gajd7;c7 of the ,federal ,acquisition ,streamlining ,act of #aiid 7#ae ,u4,s4,c4 #fdd;a7c77 is amended by striking paragraph 7#b7 and inserting the following3 7#b7 ,the ,assistant ,secretary of ,commerce for ,minority ,business ,development4 4