S. 389 · 117th Congress
Next Generation Entrepreneurship Corps Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CoonsSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes the Next Generation Entrepreneurship Corps Program to promote entrepreneurship in the most distressed regions of the United States, including those regions affected by COVID-19 (i.e., coronavirus disease 2019), by awarding participating fellows a two-year stipend to start and grow a new small business.
What it does: CRS summary · Introduced in Senate · Feb 23, 2021
Next Generation Entrepreneurship Corps Act
This bill establishes the Next Generation Entrepreneurship Corps Program to promote entrepreneurship in the most distressed regions of the United States, including those regions affected by COVID-19 (i.e., coronavirus disease 2019), by awarding participating fellows a two-year stipend to start and grow a new small business.
Fellows will receive (1) a $120,000, two-year stipend for living and basic startup expenses; (2) health care; and (3) interest-free federal student loan deferral for two years. Further, fellows shall receive mentorship from the Service Corps of Retired Executives and be matched with a full range of lenders, investors, and insurers.
The bill also establishes a fund in the Department of the Treasury from which the SBA may provide loans for qualified investors to support a small business owned and operated under the program by a fellow.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Next Generation Entrepreneurship Corps Act
Latest action (Feb 23, 2021): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Feb 23, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.