,,ii #aaf? ,,congress #b;d ,session ,s4 #dbjh ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,july #b1 #bjbj,mr4 ,c>d9 7= himself1 ,ms4 ,cantwell1 ,mr4 ,book]1 ,ms4 ,h>ris1 ,mr4 ,s*um]1 & ,ms4 ,cortez ,ma/o7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ,a ,,bill ,to require ! ,m9ority ,bus9ess ,developm5t ,ag5cy ( ! ,dep>tm5t ( ,comm]ce to promote & adm9i/] programs 9 ! public & private sectors to assi/ ! developm5t ( m9ority bus9ess ent]prises1 to ensure t su* ,ag5cy has ! necess>y support+ res\rces1 p>ticul>ly dur+ economic d[nturns1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,m9ority ,bus9ess ,resili5cy ,act ( #bjbj4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,sec4 #b4 ,f9d+s & purposes4,sec4 #c4 ,def9itions4,sec4 #d4 ,m9ority ,bus9ess ,developm5t ,ag5cy4,,title ,i--,,covid-#ai rapid response,sec4 #aja4 ,em]g5cy appropriation4,,title ,,ii--,exi/+ initiatives,subtitle ,a--,m>ket developm5t1 rese>*1 & information,sec4 #bja4 ,private sector developm5t4,sec4 #bjb4 ,public sector developm5t4,sec4 #bjc4 ,rese>* & in=mation4,subtitle ,b--,m9ority ,bus9ess ,developm5t ,c5t] ,program,sec4 #baj4 ,purpose4,sec4 #baa4 ,def9itions4,sec4 #bab4 ,e/abli%m5t4,sec4 #bac4 ,coop]ative agreem5ts4,sec4 #bad4 ,m9imiz+ disruptions to exi/+ ,bus9ess ,c5t]s program4,sec4 #bae4 ,publicity4,sec4 #baf4 ,au?orization ( appropriations4,,title ,,iii--,new initiatives to promote economic resili5cy = m9ority businesses,sec4 #cja4 ,annual div]se bus9ess =um on capital =mation4,sec4 #cjb4 ,ag5cy /udy on alt]native f9anc+ solutions4,sec4 #cjc4 ,educational developm5t relat+ to managem5t & entrepr5eur%ip4,,title ,,iv--,adm9i/rative & o!r p[]s ( ! ,ag5cy2 miscellane\s provisions,sec4 #dja4 ,adm9i/rative p[]s4,sec4 #djb4 ,f9ancial assi/ance4,sec4 #djc4 ,audits4,sec4 #djd4 ,review & report by ,comptroll] g5]al4,sec4 #dje4 ,annual reports2 recomm5dations4,sec4 #djf4 ,sep>ability4,sec4 #djg4 ,executive ,ord] #aafbe4,sec4 #djh4 ,am5dm5t to ! ,f$]al ,acquisition ,/reaml9+ ,act ( #aiid4 #b4 ,f9d+s & purposes 7a7 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,dur+ times ( economic d[nturn or recession1 communities ( color1 & bus9esses )9 ^? communities1 are g5]ally m adv]sely affect$1 :i* requires an expansion ( ! ability ( ! ,f$]al ,gov]nm5t to infuse res\rces into ^? communities4 7#b7 ,despite ! gr[? 9 ! numb] ( m9ority bus9ess ent]prises1 gaps rema9 ) respect to key metrics = ^? ent]prises1 su* z access to capital1 rev5ue1 numb] ( employees1 & survival rate4 ,specifically-- 7,a7 accord+ to ! ,dep>tm5t ( ,comm]ce1 m9ority bus9ess ent]prises are #b to #c times m likely to be d5i$ loans ?an non-m9ority bus9ess ent]prises2 7,b7 accord+ to ! ,bureau ( ! ,c5sus1 ! av]age non-m9ority bus9ess ent]prise reports receipts t are m ?an #c times high] ?an receipts report$ by ! av]age m9ority bus9ess ent]prise2 & 7,c7 accord+ to ! ,kauffman ,f\ndation-- 7i7 m9ority bus9ess ent]prises are #a_/b z likely to employ individuals1 z comp>$ ) non-m9ority bus9ess ent]prises2 & 7ii7 if m9orities />t$ & own$ bus9esses at ! same rate z non-m9orities1 ! ,unit$ ,/ates economy w\ld h m ?an #a1jjj1jjj additional employ] bus9esses & m ?an #i1ejj1jjj additional jobs4 7#c7 ,because ( ! conditions describ$ 9 p>agraph 7#b71 x is 9 ! int]e/ ( ! ,unit$ ,/ates & ! economy ( ! ,unit$ ,/ates to exp$iti\sly ameliorate ! disp>ities t m9ority bus9ess ent]prises exp]i5ce4 7#d7 ,_m individuals :o own m9ority bus9ess ent]prises are socially disadvantag$ because ^? individuals id5tify z memb]s ( c]ta9 gr\ps t h suff]$ ! effects ( discrim9atory practices or simil> circum/ances ov] :i* ^? individuals h no control1 includ+ individuals :o are-- 7,a7 ,black or ,african ,am]ican2 7,b7 ,hispanic or ,lat9o2 7,c7 ,am]ican ,indian or ,alaska ,native2 7,d7 ,asian2 & 7,e7 ,native ,hawaiian or o!r ,pacific ,isl&]4 7#e7 ,discrim9atory practices & simil> circum/ances describ$ 9 p>agraph 7#d7 are a significant det]m9ant ( ov]all economic disadvantage 9 ! ,unit$ ,/ates1 :i* is evid5t 9 ! p]si/5t racial weal? gap 9 ! ,unit$ ,/ates4 7#f7 ,:ile o!r ,f$]al ag5cies focus only on small bus9esses & bus9esses t repres5t a broad] demographic ?an solely m9ority bus9ess ent]prises1 ! ,ag5cy focuses exclusively on-- 7,a7 ! unique ne$s ( m9ority bus9ess ent]prises2 & 7,b7 enhanc+ ! capacity ( m9ority bus9ess ent]prises4 7b7 ,purposes ,! purposes ( ?is ,act are to-- 7#a7 require ! ,ag5cy to promote & adm9i/] programs 9 ! public & private sectors to assi/ ! developm5t ( m9ority bus9ess ent]prises2 & 7#b7 a*ieve ! developm5t describ$ 9 p>agraph 7#a7 by au?oriz+ ! ,assi/ant ,secret>y to c>ry out programs t w result 9 increas$ access to capital1 managem5t1 & te*nology = m9ority bus9ess ent]prises4 #c4 ,def9itions ,9 ?is ,act3 7#a7 ,ag5cy ,! t]m ,ag5cy means ! ,m9ority ,bus9ess ,developm5t ,ag5cy ( ! ,dep>tm5t ( ,comm]ce4 7#b7 ,assi/ant ,secret>y ,! t]m ,assi/ant ,secret>y means ! ,assi/ant ,secret>y ( ,comm]ce = ,m9ority ,bus9ess ,developm5t :o is appo9t$ z describ$ 9 section #d7;b7 to adm9i/] ?is ,act4 7#c7 ,f$]al ag5cy ,! t]m ,f$]al ag5cy has ! mean+ giv5 ! t]m ag5cy 9 section #eea ( title #e1 ,unit$ ,/ates ,code4 7#d7 ,f$]ally recogniz$ area ( economic di/ress ,! t]m f$]ally recogniz$ area ( economic di/ress means-- 7,a7 a ,h,u,b,zone1 z t t]m is def9$ 9 section #ca7;b7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #feg;a7b772 7,b7 an area t-- 7i7 has be5 designat$ z-- 7,i7 an emp[]m5t zone "u section #acia ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7,,ii7 a ,promise ,zone by ! ,secret>y ( ,h\s+ & ,urban ,developm5t2 or 7ii7 is a l[ or mod]ate income area1 z det]m9$ by ! ,bureau ( ! ,c5sus2 7,c7 a qualifi$ opportunity zone1 z t t]m is def9$ 9 section #adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7,d7 any o!r political subdivision or un9corporat$ area ( a ,/ate det]m9$ by ! ,assi/ant ,secret>y to be an area ( economic di/ress4 7#e7 ,indian ,tribe 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 ! t]m ,indian ,tribe has ! mean+ giv5 ! t]m ,indian tribe 9 section #d ( ! ,indian ,self-,det]m9ation & ,education ,assi/ance ,act 7#be ,u4,s4,c4 #ecjd74 7,b7 ,native ,hawaiian organization ,! t]m ,indian ,tribe includes a ,native ,hawaiian organization4 7#f7 ,in/itution ( high] education ,! 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#g7 ,m9ority bus9ess ent]prise ,! t]m m9ority bus9ess ent]prise means a =-pr(it bus9ess ent]prise-- 7,a7 t is n less ?an #ea p]c5t-own$ by #a or m socially disadvantag$ individuals2 & 7,b7 ! managem5t & daily bus9ess op]ations ( :i* are controll$ by #a or m socially disadvantag$ individuals4 7#h7 ,private sector entity ,! t]m private sector entity-- 7,a7 means an entity t is n a public sector entity2 & 7,b7 does n include-- 7i7 ! ,f$]al ,gov]nm5t2 7ii7 any ,f$]al ag5cy2 or 7iii7 any in/rum5tality ( ! ,f$]al ,gov]nm5t4 7#i7 ,public sector entity ,! t]m public sector entity means-- 7,a7 a ,/ate2 7,b7 an ag5cy ( a ,/ate2 7,c7 a political subdivision ( a ,/ate2 or 7,d7 an ag5cy ( a political subdivision ( a ,/ate4 7#aj7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,comm]ce4 7#aa7 ,socially disadvantag$ individual 7,a7 ,9 g5]al ,! t]m socially disadvantag$ individual means an individual :o has be5 subject$ to racial or e?nic prejudice or cultural bias because ( ! id5tity ( ! individual z a memb] ( a gr\p1 )\t reg>d to any individual quality ( ! individual t is unrelat$ to t id5tity4 7,b7 ,presumption ,9 c>ry+ out ?is ,act1 ! ,assi/ant ,secret>y %all presume t ! t]m socially disadvantag$ individual includes any individual :o is-- 7i7 ,black or ,african ,am]ican2 7ii7 ,hispanic or ,lat9o2 7iii7 ,am]ican ,indian or ,alaska ,native2 7iv7 ,asian2 7v7 ,native ,hawaiian or o!r ,pacific ,isl&]2 or 7vi7 a memb] ( a gr\p t ! ,m9ority ,bus9ess ,developm5t ,ag5cy det]m9es "u "p #adjj ( title #ae1 ,code ( ,f$]al ,regulations1 z 9 effect on ,novemb] #bc1 #aihd1 is a socially disadvantag$ gr\p eligible to receive assi/ance4 7#ab7 ,/ate ,! t]m ,/ate means-- 7,a7 ea* ( ! ,/ates ( ! ,unit$ ,/ates2 7,b7 ! ,di/rict ( ,columbia2 7,c7 ! ,commonweal? ( ,pu]to ,rico2 7,d7 ! ,unit$ ,/ates ,virg9 ,isl&s2 7,e7 ,guam2 7,f7 ,am]ican ,samoa2 7,g7 ! ,commonweal? ( ! ,nor!rn ,m>iana ,isl&s2 & 7,h7 ea* ,indian ,tribe4 #d4 ,m9ority ,bus9ess ,developm5t ,ag5cy 7a7 ,9 g5]al ,!re is )9 ! ,dep>tm5t ( ,comm]ce ! ,m9ority ,bus9ess ,developm5t ,ag5cy4 7b7 ,assi/ant ,secret>y 7#a7 ,appo9tm5t & duties ,! ,ag5cy %all be head$ by an ,assi/ant ,secret>y ( ,comm]ce = ,m9ority ,bus9ess ,developm5t1 :o %all be-- 7,a7 appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate2 & 7,b7 except z o!rwise expressly provid$1 responsible = ! adm9i/ration ( ?is ,act4 7#b7 ,comp5sation ,! ,assi/ant ,secret>y %all be comp5sat$ at an annual rate ( basic pay prescrib$ = level ,,iv ( ! ,executive ,s*$ule "u section #ecae ( title #e1 ,unit$ ,/ates ,code4 7c7 ,report to ,congress ,n lat] ?an #abj days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all submit to ,congress a report t describes-- 7#a7 ! organizational /ructure ( ! ,ag5cy2 7#b7 ! organizational position ( ! ,ag5cy )9 ! ,dep>tm5t ( ,comm]ce2 & 7#c7 a description ( h[ ! ,ag5cy %all function 9 relation to ! op]ations c>ri$ out by ea* o!r compon5t ( ! ,dep>tm5t ( ,comm]ce4 7d7 ,(fice ( ,bus9ess ,c5t]s 7#a7 ,e/abli%m5t ,!re is e/abli%$ )9 ! ,ag5cy an ,(fice ( ,bus9ess ,c5t]s4 7#b7 ,director ,! ,(fice ( ,bus9ess ,c5t]s %all be adm9i/]$ by a ,director1 :o %all be appo9t$ by ! ,assi/ant ,secret>y4 7e7 ,(fices ( ! ,ag5cy 7#a7 ,9 g5]al ,! ,assi/ant ,secret>y %all e/abli% su* o!r (fices )9 ! ,ag5cy z are necess>y to c>ry out ?is ,act4 7#b7 ,regional (fices 7,a7 ,9 g5]al ,9 ord] to c>ry out ?is ,act1 ! ,assi/ant ,secret>y may e/abli% a regional (fice ( ! ,ag5cy = ea* ( ! regions ( ! ,unit$ ,/ates1 z det]m9$ by ! ,assi/ant ,secret>y4 7,b7 ,duties ,ea* regional (fice e/abli%$ "u subp>agraph 7,a7 %all exp& ! rea* ( ! ,ag5cy & enable ! ,f$]al ,gov]nm5t to bett] s]ve ! ne$s ( m9ority bus9ess ent]prises 9 ! region s]v$ by ! (fice1 includ+ by-- 7i7 und]/&+ & p>ticipat+ 9 ! bus9ess environm5t ( t region2 7ii7 work+ )-- 7,i7 ,c5t]s1 z t t]m is def9$ 9 section #baa1 t are locat$ 9 t region2 & 7,,ii7 res\rce & l5d+ p>tn]s ( ! ,small ,bus9ess ,adm9i/ration t are locat$ 9 t region2 7iii7 be+ aw>e ( bus9ess ret5tion or expansion programs specific to t region2 7iv7 seek+ out opportunities to collaborate ) regional public & private programs t focus on m9ority bus9ess ent]prises2 & 7v7 promot+ bus9ess cont9uity & prep>$ness4 ,i ,,covid-#ai ,,rapid ,,response #aja4 ,em]g5cy appropriation 7a7 ,9 g5]al ,!re is appropriat$ to ! ,ag5cy = fiscal ye> #bjbj1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 #fj1jjj1jjj to provide assi/ance to m9ority bus9ess ent]prises affect$ by ! economic d[nturn caus$ by ! ,,covid-#ai p&emic1 :i* %all rema9 available until exp5d$4 7b7 ,em]g5cy requirem5t ,! am\nt provid$ by ?is section is designat$ by ! ,congress z be+ = an em]g5cy requirem5t pursuant to section #bea7;b77#b77;,a77i7 ( ! ,balanc$ ,budget & ,em]g5cy ,deficit ,control ,act ( #aihe4 ,,ii ,,exi/+ ,,initiatives ,a ,m>ket developm5t1 rese>*1 & in=mation #bja4 ,private sector developm5t ,! ,assi/ant ,secret>y %all1 :5ev] ! ,assi/ant ,secret>y det]m9es su* action is necess>y or appropriate-- 7#a7 assi/ m9ority bus9ess ent]prises to p5etrate dome/ic & =eign m>kets by mak+ available to ^? bus9ess ent]prises1 ei!r directly or 9 coop]ation ) private sector entities1 includ+ community-bas$ organizations & national nonpr(it organizations-- 7,a7 res\rces relat+ to managem5t2 7,b7 te*nological assi/ance2 7,c7 f9ancial & m>ket+ s]vices2 & 7,d7 s]vices relat+ to work=ce developm5t2 7#b7 enc\rage m9ority bus9ess ent]prises to e/abli% jo9t v5tures & projects-- 7,a7 ) o!r m9ority bus9ess ent]prises2 or 7,b7 9 coop]ation ) public sector entities or private sector entities1 includ+ community-bas$ organizations & national nonpr(it organizations1 to increase ! %>e ( any m>ket activity be+ p]=m$ by m9ority bus9ess ent]prises2 & 7#c7 facilitate ! ef=ts ( private sector entities & ,f$]al ag5cies to advance ! gr[? ( m9ority bus9ess ent]prises4 #bjb4 ,public sector developm5t ,! ,assi/ant ,secret>y %all1 :5ev] ! ,assi/ant ,secret>y det]m9es su* action is necess>y or appropriate-- 7#a7 consult & coop]ate ) public sector entities = ! purpose ( lev]ag+ res\rces available 9 ! jurisdictions ( ^? public sector entities to promote ! position ( m9ority bus9ess ent]prises 9 ! local economies ( ^? public sector entities1 includ+ by assi/+ public sector entities to e/abli% or enhance-- 7,a7 programs to procure goods & s]vices ?r\gh m9ority bus9ess ent]prises & goals = t procurem5t2 7,b7 programs (f]+ assi/ance relat+ to-- 7i7 managem5t2 7ii7 te*nology2 7iii7 f9anc+2 7iv7 m>ket+2 & 7v7 work=ce developm5t2 & 7,c7 in=mational programs design$ to in=m m9ority bus9ess ent]prises locat$ 9 ! jurisdictions ( ^? public sector entities ab\t ! availability ( programs describ$ 9 ?is section2 7#b7 meet ) lead]s & (ficials ( public sector entities = ! purpose ( recomm5d+ & promot+ local adm9i/rative & legislative initiatives ne$$ to advance ! position ( m9ority bus9ess ent]prises 9 ! local economies ( ^? public sector entities2 & 7#c7 facilitate ! ef=ts ( public sector entities & ,f$]al ag5cies to advance ! gr[? ( m9ority bus9ess ent]prises4 #bjc4 ,rese>* & in=mation 7a7 ,9 g5]al ,9 ord] to a*ieve ! purposes ( ?is ,act1 ! ,assi/ant ,secret>y-- 7#a7 %all-- 7,a7 collect & analyze data1 includ+ data relat+ to ! causes ( ! success or failure ( m9ority bus9ess ent]prises2 7,b7 p]=m evaluations ( programs c>ri$ out by ,f$]al ag5cies ) an emphasis on increas+ coord9ation betwe5 ,f$]al ag5cies ) respect to ! developm5t ( m9ority bus9ess ent]prises2 & 7,c7 conduct rese>*1 /udies1 & surveys (-- 7i7 economic conditions g5]ally 9 ! ,unit$ ,/ates2 & 7ii7 h[ ! conditions describ$ 9 clause 7i7 p>ticul>ly affect ! developm5t ( m9ority bus9ess ent]prises2 & 7#b7 may1 at ! reque/ ( a public sector entity or a private sector entity1 p]=m an evaluation ( programs c>ri$ out by ! entity t are design$ to assi/ ! developm5t ( m9ority bus9ess ent]prises4 7b7 ,in=mation cle>+h\se ,! ,assi/ant ,secret>y %all-- 7#a7 e/abli% & ma9ta9 an in=mation cle>+h\se = ! collection & dissem9ation ( demographic1 economic1 f9ancial1 manag]ial1 & te*nical data relat+ to m9ority bus9ess ent]prises2 & 7#b7 take su* /eps z ! ,assi/ant ,secret>y may det]m9e to be necess>y & desirable to se>* =1 collect1 classify1 coord9ate1 integrate1 record1 & catalog ! data describ$ 9 p>agraph 7#a74 ,b ,m9ority ,bus9ess ,developm5t ,c5t] ,program #baj4 ,purpose ,! purpose ( ! ,,mbdc ,program %all be to create a national network ( public-private p>tn]%ips t-- 7#a7 assi/ m9ority bus9ess ent]prises to-- 7,a7 access capital & contracts2 & 7,b7 create & ma9ta9 jobs2 7#b7 provide c\nsel+ & m5tor+ to m9ority bus9ess ent]prises2 & 7#c7 facilitate ! gr[? ( m9ority bus9ess ent]prises by promot+ trade4 #baa4 ,def9itions ,9 ?is title3 7#a7 ,c5t] ,! t]m ,c5t] means an eligible entity t ent]s into an ,,mbdc agreem5t ) ! ,assi/ant ,secret>y4 7#b7 ,eligible entity ,except z o!rwise expressly provid$1 ! t]m eligible entity-- 7,a7 means-- 7i7 a private sector entity2 or 7ii7 a public sector entity2 & 7,b7 includes an in/itution ( high] education4 7#c7 ,,mbdc agreem5t ,! t]m ,,mbdc agreem5t means a collaborative agreem5t ent]$ into betwe5 ! ,assi/ant ,secret>y & a ,c5t] "u ! ,,mbdc ,program4 7#d7 ,,mbdc ,program ,! t]m ,,mbdc ,program means ! program e/abli%$ "u section #bab4 #bab4 ,e/abli%m5t 7a7 ,9 g5]al ,subject to subsection 7b71 !re is e/abli%$ 9 ! ,ag5cy a program-- 7#a7 t %all be kn[n z ! ,m9ority ,bus9ess ,developm5t ,c5t]s ,program2 7#b7 t %all be sep>ate & di/9ct f ! ef=ts ( ! ,assi/ant ,secret>y "u section #bja2 & 7#c7 "u :i* ! ,assi/ant ,secret>y %all ent] into coop]ative agreem5ts ) eligible entities "u :i*1 9 accordance ) section #bac-- 7,a7 ! eligible entities %all provide te*nical assi/ance & bus9ess developm5t s]vices to m9ority bus9ess ent]prises2 & 7,b7 ! ,assi/ant ,secret>y %all provide f9ancial assi/ance to ! eligible entities to c>ry out ! activities describ$ 9 subp>agraph 7,a74 7b7 ,cov]age ,! ,assi/ant ,secret>y %all take all necess>y actions to ensure t ! ,,mbdc ,program1 9 accordance ) section #bac1 (f]s ! s]vices describ$ 9 subsection 7a77#c77;,a7 9 all regions ( ! ,unit$ ,/ates4 7c7 ,scope ( au?ority ,! au?ority ( ! ,assi/ant ,secret>y to ent] into ,,mbdc agreem5ts %all be effective ea* fiscal ye> only to ! ext5t t am\nts are made available to ! ,assi/ant ,secret>y "u applicable appropriations ,acts4 #bac4 ,coop]ative agreem5ts 7a7 ,requirem5ts ,a ,c5t] %all1 us+ f9ancial assi/ance aw>d$ to ! ,c5t] "u an ,,mbdc agreem5t-- 7#a7 provide to m9ority bus9ess ent]prises programs & s]vices det]m9$ to be appropriate by ! ,assi/ant ,secret>y1 :i*-- 7,a7 %all include ref]ral s]vices to meet ! ne$s ( m9ority bus9ess ent]prises2 & 7,b7 may include programs & s]vices to accompli% ! goals describ$ 9 section #bja7a72 7#b7 develop1 cultivate1 & ma9ta9 a network ( /rategic p>tn]%ips ) organizations t fo/] access by m9ority bus9ess ent]prises to economic m>kets or contracts2 7#c7 cont9ue to upgrade & modify ! s]vices provid$ by ! ,c5t]1 z necess>y1 9 ord] to meet ! *ang+ & evolv+ ne$s ( ! bus9ess community2 7#d7 collaborate ) o!r ,c5t]s2 & 7#e7 9 provid+ programs & s]vices "u ! ,,mbdc agreem5t-- 7,a7 op]ate on a fee-=-s]vice basis2 & 7,b7 g5]ate income ?r\gh ! collection (-- 7i7 cli5t fees2 7ii7 memb]%ip fees2 7iii7 success fees2 & 7iv7 any o!r appropriate fees propos$ by ! ,c5t] 9 ! application submitt$ by ! ,c5t] = ! ,,mbdc agreem5t4 7b7 ,t]m ,subject to subsection 7g71 ! t]m ( an ,,mbdc agreem5t %all be #c ye>s4 7c7 ,f9ancial assi/ance 7#a7 ,m9imum am\nt ,subject to p>agraph 7#b71 ! am\nt ( f9ancial assi/ance provid$ by ! ,assi/ant ,secret>y "u an ,,mbdc agreem5t %all be n less ?an #bej1jjj = ! t]m ( ! ,,mbdc agreem5t4 7#b7 ,additional am\nts ,9 det]m9+ :e!r to aw>d f9ancial assi/ance "u an ,,mbdc agreem5t to a ,c5t] 9 an am\nt great] ?an #bej1jjj1 ! ,assi/ant ,secret>y %all take into consid]ation ! co/ ( liv+ & ! size ( ! population 9 ! area 9 :i* ! ,c5t] is locat$4 7#c7 ,mat*+ requirem5t 7,a7 ,9 g5]al ,a ,c5t] %all mat* n less ?an #a_/c ( ! am\nt ( ! f9ancial assi/ance aw>d$ to ! ,c5t] "u an ,,mbdc agreem5t4 7,b7 ,=m ( funds ,a ,c5t] may meet ! mat*+ requirem5t "u subp>agraph 7,a7 us+ ca% or 9-k9d contributions1 )\t reg>d to :e!r ! contribution is made by a ?ird p>ty4 7#d7 ,use ( f9ancial assi/ance & program income ,a ,c5t] %all use-- 7,a7 all f9ancial assi/ance aw>d$ to ! ,c5t] "u an ,,mbdc agreem5t to c>ry out ! requirem5ts "u subsection 7a72 & 7,b7 all income t ! ,c5t] g5]ates 9 c>ry+ out ! requirem5ts "u subsection 7a7-- 7i7 to meet ! mat*+ requirem5t "u p>agraph 7#c7 ( ?is subsection2 & 7ii7 if ! ,c5t] meets ! mat*+ requirem5t "u p>agraph 7#c7 ( ?is subsection1 to c>ry out ! requirem5ts "u subsection 7a74 7d7 ,crit]ia = selection ,! ,assi/ant ,secret>y %all-- 7#a7 e/abli%-- 7,a7 crit]ia t-- 7i7 ! ,assi/ant ,secret>y %all use 9 det]m9+ :e!r to ent] into an ,,mbdc agreem5t ) an eligible entity2 & 7ii7 may include crit]ia relat+ to :e!r an eligible entity is locat$ 9-- 7,i7 an area1 ! population ( :i* is compos$ ( n less ?an #ea p]c5t socially disadvantag$ individuals2 7,,ii7 a f$]ally recogniz$ area ( economic di/ress2 or 7,,iii7 a ,/ate t is und]s]v$ ) respect to ! ,,mbdc program1 z def9$ by ! ,assi/ant ,secret>y2 & 7,b7 /&>ds relat+ to ! consid]ation giv5 to ! crit]ia e/abli%$ "u subp>agraph 7,a72 & 7#b7 make ! crit]ia & /&>ds e/abli%$ "u p>agraph 7#a7 publicly available1 includ+-- 7,a7 on ! website ( ! ,ag5cy2 & 7,b7 9 ea* solicitation = applications = ,,mbdc agreem5ts4 7e7 ,applications ,an eligible entity desir+ to ent] into an ,,mbdc agreem5t %all submit to ! ,assi/ant ,secret>y an application t includes-- 7#a7 a /atem5t (-- 7,a7 h[ ! eligible entity w meet ! requirem5ts "u subsection 7a72 & 7,b7 any exp]i5ce ( ! eligible entity 9-- 7i7 assi/+ m9ority bus9ess ent]prises to-- 7,i7 obta9-- 7aa7 l>ge-scale contracts or procurem5ts2 or 7bb7 f9anc+2 7,,ii7 access e/abli%$ supply *a9s2 & 7,,iii7 engage 9-- 7aa7 jo9t v5tures1 team+ arrangem5ts1 & m]g]s & acquisitions2 or 7bb7 l>ge-scale transactions 9 global m>kets2 & 7ii7 advocat+ = m9ority bus9ess ent]prises2 & 7#b7 ! budget & correspond+ budget n>rative t ! eligible entity w use 9 c>ry+ out ! requirem5ts "u subsection 7a7 dur+ ! t]m ( ! ,,mbdc agreem5t4 7f7 ,notification ,if ! ,assi/ant ,secret>y grants an application ( an eligible entity submitt$ "u subsection 7e71 ! ,assi/ant ,secret>y %all notify ! eligible entity t ! application has be5 grant$ n lat] ?an #aej days aft] ! la/ day on :i* an application may be submitt$ "u t subsection4 7g7 ,program exam9ation2 accr$itation2 ext5sions 7#a7 ,exam9ation ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 & bi5nially !reaft]1 ! ,assi/ant ,secret>y %all conduct a programmatic f9ancial exam9ation ( ea* ,c5t]4 7#b7 ,accr$itation ,! ,assi/ant ,secret>y may provide f9ancial support1 by contract or o!rwise1 to an association1 n less ?an #ea p]c5t ( ! memb]s ( :i* are ,c5t]s1 to-- 7,a7 pursue matt]s ( common conc]n ) respect to ,c5t]s2 & 7,b7 develop an accr$itation program ) respect to ,c5t]s4 7#c7 ,ext5sions 7,a7 ,9 g5]al ,! ,assi/ant ,secret>y may ext5d ! t]m "u subsection 7b7 ( an ,,mbdc agreem5t to :i* a ,c5t] is a p>ty to a t]m ( #e ye>s1 if ! ,c5t] cons5ts to ! ext5sion4 7,b7 ,f9ancial assi/ance ,if ! ,assi/ant ,secret>y ext5ds ! t]m ( an ,,mbdc agreem5t "u p>agraph 7#a71 ! ,assi/ant ,secret>y %all1 9 ! same mann] & am\nt 9 :i* f9ancial assi/ance 0 provid$ dur+ ! initial t]m ( ! ,,mbdc agreem5t1 provide f9ancial assi/ance "u ! ,,mbdc agreem5t dur+ ! ext5d$ t]m ( ! ,,mbdc agreem5t4 7h7 ,priority ,9 ent]+ into ,,mbdc agreem5ts "u ! ,,mbdc ,program & ext5d+ ,,mbdc agreem5ts "u subsection 7g77#c71 ! ,assi/ant ,secret>y %all give priority to ext5d+ ,,mbdc agreem5ts "u subsection 7g77#c74 7i7 ,susp5sion1 t]m9ation1 & refusal ,to ext5d 7#a7 ,9 g5]al 7,a7 ,9 g5]al ,! ,assi/ant ,secret>y may susp5d1 t]m9ate1 or refuse to ext5d ! t]m ( an ,,mbdc agreem5t on ! basis ( ! poor p]=mance by a ,c5t] 9 meet+ ! p]=mance goals e/abli%$ by ! ,secret>y "u subp>agraph 7,b74 7,b7 ,p]=mance goals ,! ,assi/ant ,secret>y %all e/abli% p]=mance goals by :i* to evaluate ! p]=mance ( a ,c5t] 9 meet+ ! requirem5ts "u subsection 7a74 7#b7 ,notice ,be=e susp5d+1 t]m9at+1 or refus+ to ext5d ! t]m ( an ,,mbdc agreem5t "u p>agraph 7#a71 ! ,assi/ant ,secret>y %all provide to ! relevant ,c5t]-- 7,a7 a writt5 notice ( ! reasons = ! susp5sion1 t]m9ation1 or refusal2 & 7,b7 an opportunity = a he>+1 appeal1 or o!r adm9i/rative proce$+ to conte/ ! susp5sion1 t]m9ation1 or refusal4 7j7 ,,mbda involvem5t ,! ,assi/ant ,secret>y %all ensure t ! ,ag5cy is sub/antially involv$ 9 ! activities ( ,c5t]s 9 c>ry+ out ! requirem5ts "u subsection 7a71 includ+ by-- 7#a7 provid+ to ea* ,c5t] tra9+ relat+ to ! ,,mbdc ,program2 7#b7 requir+ t ! op]ator & /aff ( ea* ,c5t]-- 7,a7 att5d-- 7i7 a conf]5ce ) ! ,ag5cy to e/abli% ! s]vices & programs t ! ,c5t] w provide 9 c>ry+ out ! requirem5ts be=e ! date on :i* ! ,c5t] beg9s provid+ ^? s]vices & programs2 & 7ii7 tra9+ provid$ "u p>agraph 7#a72 7,b7 receive necess>y advis+ relat+ to c>ry+ out ! requirem5ts "u subsection 7a72 & 7,c7 "w 9 coord9ation & collaboration ) ! ,assi/ant ,secret>y to c>ry out ! ,,mbdc ,program & o!r programs ( ! ,ag5cy2 7#c7 facilitat+ connections betwe5 ,c5t]s &-- 7,a7 ,f$]al ag5cies o!r ?an ! ,ag5cy1 includ+ ! ,small ,bus9ess ,adm9i/ration & ! ,economic ,developm5t ,adm9i/ration ( ! ,dep>tm5t ( ,comm]ce2 & 7,b7 o!r in/itutions or entities t use ,f$]al res\rces1 includ+-- 7i7 small bus9ess developm5t c5t]s1 z t t]m is def9$ 9 section #c7t7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb7t772 7ii7 wom5's bus9ess c5t]s describ$ 9 section #bi ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fef72 7iii7 eligible entities1 z t t]m is def9$ 9 section #bdaa ( title #aj1 ,unit$ ,/ates ,code1 t provide s]vices "u ! program c>ri$ out "u *apt] #adb ( t title2 & 7iv7 entities p>ticipat+ 9 ! ,holl+s ,manufactur+ ,ext5sion ,p>tn]%ip ,program e/abli%$ "u section #be ( ! ,national ,in/itute ( ,/&>ds & ,te*nology ,act 7#ae ,u4,s4,c4 #bghk72 7#d7 monitor+ projects c>ri$ out by ea* ,c5t]2 & 7#e7 e/abli%+ & en=c+ adm9i/rative & report+ requirem5ts = ea* ,c5t] to c>ry out ! requirem5ts "u subsection 7a74 7k7 ,regulations ,! ,assi/ant ,secret>y %all issue & publi% regulations t e/abli% m9imum /&>ds reg>d+ v]ification ( m9ority bus9ess ent]prise /atus = cli5ts ( entities op]at+ "u ! ,,mbdc ,program4 #bad4 ,m9imiz+ disruptions to exi/+ ,bus9ess ,c5t]s program ,! ,assi/ant ,secret>y %all ensure t ea* coop]ative agreem5t ent]$ into "u ! ,bus9ess ,c5t]s program ( ! ,ag5cy t is 9 effect on ! day be=e ! date ( enactm5t ( ?is ,act is c>ri$ out 9 a mann] t1 to ! greate/ ext5t practicable1 prev5ts disruption ( any activity c>ri$ out "u ! coop]ative agreem5t4 #bae4 ,publicity ,9 c>ry+ out ! ,,mbdc ,program1 ! ,assi/ant ,secret>y %all widely publicize ! ,,mbdc ,program1 includ+-- 7#a7 on ! website ( ! ,ag5cy2 & 7#b7 via social m$ia outlets4 #baf4 ,au?orization ( appropriations ,!re are au?oriz$ to be appropriat$ to ! ,assi/ant ,secret>y #cj1jjj1jjj = ea* ( fiscal ye>s #bjba ?r\gh #bjbd to c>ry out ! ,,mbdc ,program1 includ+ ! compon5t ( ! program relat+ to ,specialty ,c5t]s4 ,,iii ,,new ,,initiatives ,,to ,,promote ,,economic ,,resili5cy ,,= ,,m9ority ,,bus9esses #cja4 ,annual div]se bus9ess =um on capital =mation 7a7 ,responsibility ( ,ag5cy ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft]1 ! ,ag5cy %all conduct a ,gov]nm5t-bus9ess =um to review ! curr5t /atus ( problems & programs relat+ to capital =mation by m9ority bus9ess ent]prises4 7b7 ,p>ticipation 9 =um plann+ ,! ,assi/ant ,secret>y %all invite ! heads ( o!r ,f$]al ag5cies1 su* z ! ,*airman ( ! ,securities & ,ex*ange ,commission1 ! ,secret>y ( ! ,treasury1 & ! ,*airman ( ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 organizations repres5t+ ,/ate securities commission]s1 repres5tatives ( lead+ m9ority *amb]s ( comm]ce1 bus9ess organizations1 & pr(essional organizations conc]n$ ) capital =mation to p>ticipate 9 ! plann+ ( ea* =um conduct$ "u subsection 7a74 7c7 ,prep>ation ( /atem5ts & reports 7#a7 ,reque/s ,! ,assi/ant ,secret>y may reque/ t any head ( a ,f$]al dep>tm5t1 ag5cy1 or organization1 includ+ ^? describ$ 9 subsection 7b71 or any o!r gr\p or individual1 prep>e a /atem5t or report to be deliv]$ at any =um conduct$ "u subsection 7a74 7#b7 ,coop]ation ,any head ( a ,f$]al dep>tm5t1 ag5cy1 or organization :o receives a reque/ "u p>agraph 7#a7 %all1 to ! greate/ ext5t practicable1 coop]ate ) ! ,assi/ant ,secret>y to fulfill t reque/4 7d7 ,transmittal ( proce$+s & f9d+s ,! ,assi/ant ,secret>y %all-- 7#a7 prep>e a summ>y ( ! proce$+s ( ea* =um conduct$ "u subsection 7a71 :i* %all include ! f9d+s & recomm5dations ( ! =um2 & 7#b7 transmit ! summ>y describ$ 9 p>agraph 7#a7 ) respect to ea* =um conduct$ "u subsection 7a7 to-- 7,a7 ! p>ticipants 9 ! =um2 7,b7 ,congress2 & 7,c7 ! public1 ?r\gh a publicly available website4 7e7 ,review ( f9d+s & recomm5dations2 public /atem5ts 7#a7 ,9 g5]al ,a ,f$]al ag5cy to :i* a f9d+ or recomm5dation describ$ 9 subsection 7d77#a7 relates %all-- 7,a7 review t f9d+ or recomm5dation2 & 7,b7 promptly aft] ! f9d+ or recomm5dation is transmitt$ "u p>agraph 7#b77;,c7 ( subsection 7d71 issue a public /atem5t-- 7i7 assess+ ! f9d+ or recomm5dation2 & 7ii7 disclos+ ! action1 if any1 ! ,f$]al ag5cy int5ds to take ) respect to ! f9d+ or recomm5dation4 7#b7 ,jo9t /atem5t p]mitt$ ,if a f9d+ or recomm5dation describ$ 9 subsection 7d77#a7 relates to m ?an #a ,f$]al ag5cy1 ! applicable ,f$]al ag5cies may1 = ! purposes ( ! public /atem5t requir$ "u p>agraph 7#a77;,b71 issue a jo9t /atem5t4 #cjb4 ,ag5cy /udy on alt]native f9anc+ solutions 7a7 ,purpose ,! purpose ( ?is section is to provide in=mation relat+ to alt]native f9anc+ solutions to m9ority bus9ess ent]prises1 z ^? bus9ess ent]prises are m likely to /ruggle 9 access+1 p>ticul>ly at af=dable rates1 traditional s\rces ( capital4 7b7 ,/udy & report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,assi/ant ,secret>y %all-- 7#a7 conduct a /udy on opportunities = provid+ alt]native f9anc+ solutions to m9ority bus9ess ent]prises2 & 7#b7 submit to ,congress1 & publi% on ! website ( ! ,ag5cy1 a report describ+ ! f9d+s ( ! /udy c>ri$ out "u p>agraph 7#a74 #cjc4 ,educational developm5t relat+ to managem5t & entrepr5eur%ip 7a7 ,duties ,! ,assi/ant ,secret>y %all1 :5ev] ! ,assi/ant ,secret>y det]m9es su* action is necess>y or appropriate-- 7#a7 promote & provide assi/ance = ! education & tra9+ ( socially disadvantag$ individuals 9 subjects directly relat+ to bus9ess adm9i/ration & managem5t2 7#b7 jo9 )1 & enc\rage1 in/itutions ( high] education1 lead]s 9 bus9ess & indu/ry1 & o!r public sector & private sector entities1 p>ticul>ly m9ority bus9ess ent]prises1 to-- 7,a7 develop programs to (f] s*ol>%ips & fell[%ips1 appr5tice%ips1 & int]n%ips relat+ to bus9ess to socially disadvantag$ individuals2 & 7,b7 sponsor sem9>s1 conf]5ces1 & simil> activities relat+ to bus9ess = ! b5efit ( socially disadvantag$ individuals2 7#c7 /imulate & accel]ate curriculum design & improvem5t 9 support ( developm5t ( m9ority bus9ess ent]prises2 & 7#d7 enc\rage & assi/ private in/itutions & organizations & public sector entities to und]take activities simil> to ! activities describ$ 9 p>agraphs 7#a71 7#b71 & 7#c74 7b7 ,p>r5 ,j4 ,mit*ell entrepr5eur%ip education grants 7#a7 ,def9ition ,9 ?is subsection1 ! t]m eligible in/itution means an in/itution ( high] education describ$ 9 any ( p>agraphs 7#a7 ?r\gh 7#g7 ( section #cga7;a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajfgq7a774 7#b7 ,grants ,! ,assi/ant ,secret>y %all aw>d grants to eligible in/itutions to develop & implem5t entrepr5eur%ip curricula4 7#c7 ,requirem5ts ,an eligible in/itution t receives a grant aw>d$ "u ?is subsection %all use ! grant funds to-- 7,a7 develop a curriculum t includes tra9+ 9 v>i\s skill sets ne$$ by contempor>y successful entrepr5eurs1 includ+-- 7i7 bus9ess managem5t & m>ket+2 7ii7 f9ancial managem5t & acc\nt+2 7iii7 m>ket analysis2 7iv7 competitive analysis2 7v7 innovation2 7vi7 /rategic plann+2 & 7vii7 any o!r skill set t ! eligible in/itution det]m9es is necess>y = ! /ud5ts s]v$ by ! eligible in/itution & ! community 9 :i* ! eligible in/itution is locat$2 & 7,b7 implem5t ! curriculum develop$ "u subp>agraph 7,a7 at ! eligible in/itution4 7#d7 ,implem5tation timel9e ,! ,assi/ant ,secret>y %all e/abli% & publi% a timel9e "u :i* an eligible in/itution t receives a grant "u ?is section %all c>ry out ! requirem5ts "u p>agraph 7#c74 7#e7 ,reports ,ea* ye>1 ! ,assi/ant ,secret>y %all submit to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,en]gy & ,comm]ce ( ! ,h\se ( ,repres5tatives1 z "p ( ! annual budget submission ( ! ,presid5t "u section #aaje7;a7 ( title #ca1 ,unit$ ,/ates ,code1 a report evaluat+ ! aw>d+ & use ( grants "u ?is subsection dur+ ! fiscal ye> imm$iately prec$+ ! date on :i* ! report is submitt$1 :i* %all include1 ) respect to t fiscal ye>-- 7,a7 a description ( ea* curriculum develop$ & implem5t$ "u ea* grant aw>d$ "u ?is section2 7,b7 ! date on :i* ea* grant aw>d$ "u ?is section 0 aw>d$2 & 7,c7 ! numb] ( eligible entities t 7 recipi5ts ( grants aw>d$ "u ?is section4 ,,iv ,,adm9i/rative ,,& ,,o!r ,,p[]s ,,( ,,! ,,ag5cy2 ,,miscellane\s ,,provisions #dja4 ,adm9i/rative p[]s 7a7 ,9 g5]al ,9 c>ry+ out ?is ,act1 ! ,assi/ant ,secret>y may-- 7#a7 adopt & use a seal = ! ,ag5cy1 :i* %all be judicially notic$2 7#b7 hold he>+s1 sit & act1 & take te/imony z ! ,assi/ant ,secret>y may det]m9e to be necess>y or appropriate to c>ry out ?is ,act2 7#c7 acquire1 9 any lawful mann]1 any prop]ty t ! ,assi/ant ,secret>y may det]m9e to be necess>y or appropriate to c>ry out ?is ,act2 7#d7 make advance paym5ts "u grants1 contracts1 & coop]ative agreem5ts aw>d$ "u ?is ,act2 7#e7 ent] into agreem5ts ) o!r ,f$]al ag5cies2 7#f7 coord9ate ) ! heads ( ! ,(fices ( ,small & ,disadvantag$ ,bus9ess ,utilization ( ,f$]al ag5cies2 7#g7 require a coord9at$ review ( all tra9+ & te*nical assi/ance activities t are propos$ to be c>ri$ out by ,f$]al ag5cies 9 direct support ( ! developm5t ( m9ority bus9ess ent]prises to-- 7,a7 ensure consi/5cy ) ! purposes ( ?is ,act2 & 7,b7 avoid duplication ( exi/+ ef=ts2 & 7#h7 prescribe su* rules1 regulations1 & proc$ures z ! ,ag5cy may det]m9e to be necess>y or appropriate to c>ry out ?is ,act4 7b7 ,employm5t ( c]ta9 exp]ts & consultants 7#a7 ,9 g5]al ,9 c>ry+ out ?is ,act1 ! ,assi/ant ,secret>y may employ exp]ts & consultants or organizations t are compos$ ( exp]ts or consultants1 z au?oriz$ "u section #caji ( title #e1 ,unit$ ,/ates ,code4 7#b7 ,r5ewal ( contracts ,! ,assi/ant ,secret>y may annually r5ew a contract = employm5t ( an individual employ$ "u p>agraph 7#a74 7c7 ,donation ( prop]ty 7#a7 ,9 g5]al ,subject to p>agraph 7#b71 9 c>ry+ out ?is ,act1 ! ,assi/ant ,secret>y may1 )\t co/ 7except = co/s ( c>e & h&l+71 donate = use by any public sector entity1 or by any recipi5t nonpr(it organization1 = ! purpose ( ! developm5t ( m9ority bus9ess ent]prises1 any real or tangible p]sonal prop]ty acquir$ by ! ,ag5cy 9 c>ry+ out ?is ,act4 7#b7 ,t]ms1 conditions1 res]vations1 & re/rictions ,! ,assi/ant ,secret>y may impose reasonable t]ms1 conditions1 res]vations1 & re/rictions ^u ! use ( any prop]ty donat$ "u p>agraph 7#a74 #djb4 ,f9ancial assi/ance 7a7 ,9 g5]al 7#a7 ,provision ( f9ancial assi/ance ,to c>ry out sections #bja1 #bjb1 & #bjc7;a71 ! ,assi/ant ,secret>y may provide f9ancial assi/ance to public sector entities & private sector entities 9 ! =m ( contracts1 grants1 or coop]ative agreem5ts4 7#b7 ,notice ,n lat] ?an #abj days be=e ! fir/ day ( ea* fiscal ye>1 ! ,assi/ant ,secret>y %all1 9 accordance ) subsection 7b71 broadly publi% a /atem5t reg>d+ f9ancial assi/ance t w1 or may1 be made available "u p>agraph 7#a7 9 ! fir/ fiscal ye> t beg9s aft] ! date on :i* ! /atem5t is publi%$1 includ+-- 7,a7 ! actual1 or anticipat$1 am\nt ( f9ancial assi/ance t w1 or may1 be made available2 7,b7 ! types ( f9ancial assi/ance t w1 or may1 be made available2 7,c7 ! mann] 9 :i* f9ancial assi/ance w be allocat$ among public sector entities & private sector entities1 z applicable2 & 7,d7 ! me?odology us$ by ! ,assi/ant ,secret>y to make allocations "u subp>agraph 7,c74 7#c7 ,consultation ,! ,assi/ant ,secret>y %all consult ) public sector entities & private sector entities1 z applicable1 9 decid+ ! am\nts & types ( f9ancial assi/ance to make available "u p>agraph 7#a74 7b7 ,publicity ,9 c>ry+ out ?is section1 ! ,assi/ant ,secret>y %all broadly publicize all opportunities = f9ancial assi/ance available "u ?is section1 includ+-- 7#a7 on ! website ( ! ,ag5cy2 & 7#b7 via social m$ia outlets4 #djc4 ,audits 7a7 ,recordkeep+ requirem5t ,ea* recipi5t ( assi/ance "u ?is ,act %all keep su* records z ! ,assi/ant ,secret>y %all prescribe1 includ+ records t fully disclose1 ) respect to ! assi/ance receiv$ by ! recipi5t "u ?is ,act-- 7#a7 ! am\nt & nature ( t assi/ance2 7#b7 ! disposition by ! recipi5t ( ! proce$s ( t assi/ance2 7#c7 ! total co/ ( ! und]tak+ = :i* ! assi/ance is giv5 or us$2 7#d7 ! am\nt & nature ( ! portion ( ! co/ ( ! und]tak+ describ$ 9 p>agraph 7#c7 t is suppli$ by a s\rce o!r ?an ! ,ag5cy2 & 7#e7 any o!r records t w facilitate an effective audit ( ! assi/ance4 7b7 ,access by ,gov]nm5t (ficials ,! ,assi/ant ,secret>y1 ! ,inspector ,g5]al ( ! ,dep>tm5t ( ,comm]ce1 & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates1 or any duly au?oriz$ repres5tative ( any su* individual1 %all h access1 = ! purpose ( audit1 inve/igation1 & exam9ation1 to any book1 docum5t1 pap]1 record1 or o!r mat]ial ( a recipi5t ( assi/ance "u ?is ,act t p]ta9s to ! assi/ance receiv$ by ! recipi5t "u ?is ,act4 #djd4 ,review & report by ,comptroll] ,g5]al ,n lat] ?an #d ye>s aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all-- 7#a7 conduct a ?or\gh review ( ! programs c>ri$ out "u ?is ,act2 & 7#b7 submit to ,congress a detail$ report ( ! f9d+s ( ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates "u ! review c>ri$ out "u p>agraph 7#a71 :i* %all include-- 7,a7 an evaluation ( ! effectiv5ess ( ! programs 9 a*iev+ ! purposes ( ?is ,act2 7,b7 a description ( any failure by any recipi5t ( assi/ance "u ?is ,act to comply ) ! requirem5ts "u ?is ,act2 & 7,c7 recomm5dations = any legislative or adm9i/rative action t %\ld be tak5 to improve ! a*ievem5t ( ! purposes ( ?is ,act4 #dje4 ,annual reports2 recomm5dations 7a7 ,annual report ,n lat] ?an #ij days aft] ! la/ day ( ea* fiscal ye>1 ! ,assi/ant ,secret>y %all submit to ,congress1 & publi% on ! website ( ! ,ag5cy1 a report ( ea* activity ( ! ,ag5cy c>ri$ out "u ?is ,act dur+ ! fiscal ye> prec$+ ! date on :i* ! report is submitt$4 7b7 ,recomm5dations ,! ,assi/ant ,secret>y %all p]iodically submit to ,congress & ! ,presid5t recomm5dations = legislation or o!r actions t ! ,assi/ant ,secret>y det]m9es to be necess>y or appropriate to promote ! purposes ( ?is ,act4 #djf4 ,sep>ability ,if a provision ( ?is ,act1 or ! application ( a provision ( ?is ,act to any p]son or circum/ance1 is held by a c\rt ( compet5t jurisdiction to be invalid1 t judgm5t-- 7#a7 %all n affect1 impair1 or invalidate-- 7,a7 any o!r provision ( ?is ,act2 or 7,b7 ! application ( ?is ,act to any o!r p]son or circum/ance2 & 7#b7 %all be conf9$ 9 its op]ation to-- 7,a7 ! provision ( ?is ,act ) respect to :i* ! judgm5t is r5d]$2 or 7,b7 ! application ( ! provision ( ?is ,act to ea* p]son or circum/ance directly involv$ 9 ! controv]sy 9 :i* ! judgm5t is r5d]$4 #djg4 ,executive ,ord] #aafbe ,! p[]s & duties ( ! ,ag5cy %all be det]m9$-- 7#a7 9 accordance ) ?is ,act & ! requirem5ts ( ?is ,act2 & 7#b7 )\t reg>d to ,executive ,ord] #aafbe 7#cf ,f$4 ,reg4 #aiifg2 relat+ to prescrib+ additional arrangem5ts = develop+ & coord9at+ a national program = m9ority bus9ess ent]prise74 #djh4 ,am5dm5t to ! ,f$]al ,acquisition ,/reaml9+ ,act ( #aiid ,section #gajd7;c7 ( ! ,f$]al ,acquisition ,/reaml9+ ,act ( #aiid 7#ae ,u4,s4,c4 #fdd;a7c77 is am5d$ by /rik+ p>agraph 7#b7 & ins]t+ ! foll[+3 7#b7 ,! ,assi/ant ,secret>y ( ,comm]ce = ,m9ority ,bus9ess ,developm5t4 4