African Entrepreneurship Act of 2006

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D McDermottSponsor

20 cosponsors · 19 D, 1 R

19 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

African Entrepreneurship Act of 2006 - States that it shall be U.S. policy to make available for private sector development in sub-Saharan African countries professional, technical, and other resources for capacity-building for retail banks and small and medium enterprises, including farmers' cooperatives and businesses, to promote entrepreneurship and…

What it does: CRS summary · Introduced in House · May 25, 2006

Amends the Internal Revenue Code to include an African Economic Diversification Fund financing rate in the determination of the tax on petroleum products entered into the United States directly from a beneficiary sub-Saharan country. Terminates the Fund financing rate after December 31, 2011.

Establishes in the Treasury the African Economic Diversification Fund. Sets forth permitted expenditures.

Amends the Small Business Act to establish in the Office of International Trade the 21st Century African Entrepreneurs Program to provide assistance to qualified small and medium African enterprises. Provides for the establishment of not less than three African Entrepreneurs Program Centers for each of FY2007-FY2012 in qualified sub-Saharan countries.

Directs the Administrator of the Small Business Administration (SBA) to establish the U.S.-Africa Private Sector Advisory Council.

States that: (1) the Administrator should provide the Secretary of the Treasury with information pertaining to how African Development Bank programs can be used to improve the 21st Century African Entrepreneurs Program; (2) the Secretary of Agriculture should provide the Secretary of the Treasury with information pertaining to how the establishment of a value-added agricultural loan facility can be used to support development of qualified small and medium African enterprises devoted to the processing of agricultural commodities; and (3) the Secretary of State should undertake activities to strengthen internationally recognized labor rights and standards in qualified sub-Saharan African countries.

Authorizes the President, through the United States Agency for International Development (USAID), to provide assistance to small and medium enterprises in such countries for: (1) youth entrepreneurship programs; and (2) anti-corruption initiatives.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: African Entrepreneurship Act of 2006

Latest action (May 25, 2006): Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Policy area: International Affairs · Origin: House · Introduced: May 25, 2006

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.