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1 1 (November 23, 2021)

handle is hein.crs/goveewm0001 and id is 1 raw text is: Congre asians! Research Service S November23, 2021 Build Back Better Act: Small Business Administration Sections The Build Back Better Act (BBBA; H.R 5376), passed by the Houseon November 19, 2021, includes 19 sections that would provide a total of more than $5 billion for U.S. Small Business Administration(SBA)programs. Veteran Federal Procurement Entrepreneurship Training Program Section 100101: $35 million in FY2022, to remain available until September 30,2030-for competitive grants to nonprofit entities to provide training to veteran-owned small businesses to increase their likelihood ofbeing awarded federal contracts. Expanding the Surety Bond Program Section 100102: $100 million in FY2022, including $15 million for administrative expenses, to remain available until September 30, 2031-to increase the guarantee on bid, performance, and payment surety bonds for small businesses from$6.5 million ($10 million if a federal contracting officer certifies that such a guarantee is necessary) to $10million ($20 million if a federal contracting officer certifies that such a guarantee is necessary). Uplift Incubators Section 100201: $1 billion in FY2022, including $150 million for administrative expenses, to remain available until September 30,2031-to provide competitive grants or contracts to economic development organizations, SBA management and training partner organizations, historically blackcolleges anduniversities, colleges thatprimarily educatenminority students, and junior or community colleges to establish business incubators to assist small businesses that are in the planning stages or in business for not more than five years, smallbusiness contractors, or businesses owned and controlled by one or more members of an underrepresented community as defined in the bill (e.g., resident of a low-income community as defined in section 45D(e) of the Internal Revenue Code, located in a HUBZone, member of an Indian or Alaska Native tribe) or a Native entity. Theincubators are to provide a wide range of management and training assistance, including training to enhance access to capital, help new business owners become business ready, and help all participants become ready to submit bids for federal contracts. Office of Native Affairs Section 100202: $10 million in FY2022, to remain available until September 30,2029-to establish an Office of Native Affairs, which will create and administer a Native American Outreach Program. The Outreach Programwould provide information to state, local, and tribal governments about federal assistance available to Native American- owned smallbusinesses (defmedto include Native Americans, Native Hawaiian Organizations, Alaska Native Corporations, and Indian tribes) and management and training for Native American-owned smallbusinesses. Office of Rural Affairs Section 100203: $10 million in FY2022, to remain available until September 30,2029-for an annual Rural Small Business Conference, to be held in various regions of the country. Office of Emerging Markets Section 100204: $10 million in FY2022, to remain available until September 30,2029-to establish an office of emerging markets to enhance the well-being ofsmall businesses in an emerging market as defmedin the bill (e.g., located in a low- or moderate-income area for purposes ofthe Community Development Block Grant program, located in a HUBZone, is a startup or is owned and controlled by veterans or individuals with disabilities). State Trade Expansion Program Section 100205: $31.71 million in FY2023 and in FY2024, with each appropriation to remain available until September 30, 2027-for additional State Trade Expansion Program grants. Growth Accelerators Section 100301: $200 million in FY2022, including $10 million for administrative expenses, to remain available until September 30, 2031-for additional growth accelerator grants. The growth accelerators programis also provided statutory authorization as the Growth Accelerator Competition, with awards of at least $100,000. Emerging Managers Program (Increasing Equity Investments in the SBIC Program) Section 100401: $20 million in FY2022, to remain available until September 30, 2031-to establish a Small Business Investment Company (SBIC) emerging managers programfor managers that meet at least two of a list of specified criteria, such as having less than 10 years of combined investment experience, a focus onunderserved markets, or being majority owned by members of an underserved community. The programencourages specified investments, including in infrastructure, defmedbroadly to include child and elder care, manufacturing, low-income communities, and small businesses owned byveterans, Native Americans, and individuals with disabilities. Microcap SBIC license Section 100402: $40 million in FY2022, to remain available until September 30,2031-to establish a Microcap SBIClicense for prospective SBIC managers that https://crsreports.congress.gc

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