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1 1 (December 1, 2021)

handle is hein.crs/goveexe0001 and id is 1 raw text is: Congressional SResearch Service The Minority Business Development Agency Established in Statute December 1, 2021 Congress has considered an increasing number of policies designed to promote individual economic mobility as well as broader national economic growth. They include several proposals to reduce inequities and advance minority entrepreneurship, innovation, and business expansion activities. Such policies have included efforts to expand the Department of Commerce's Minority Business Development Agency (MBDA) programs and establish the agency in statute. The agency was originally established by Executive Order under President Nixon over 52 years ago. On November 15, 2021, the Minority Business Development Act of 2021 (Division K of P. L. 117-58) authorized the MBDA in statute. The act codified select existing programs, added new programs and roles, and expanded the scope and scale of the MDBA's services. This Insight highlights the agency's expanded roles and new programs, and identifies some considerations for Congress. MBDA Overview The MBDA is the lead federal agency supporting the minority business community's growth and global competitiveness. The agency provides management and technical assistance to minority business enterprises (MBEs) through a network of minority business centers and specialty centers. To further increase MBE's access to capital, contracts, and markets, MBDApartners with other agencies and private sector partners on business development services, cross-sector initiatives, annual events, and interagency groups and commissions. The statute defines an MBE as abusiness enterprise that is not less than 51%- owned by one or more socially or economically disadvantaged individuals; and the management and daily business operations of which are controlled by one or more socially or economically disadvantaged individuals. For information on MBDA activities, see CRS Report R46816. Agency Establishment Congress has considered proposals to codify the MBDAfor decades. The MBDA's powers and duties are now to be set in accordance with the statute and without regard to Executive Order 11625 (36 Fed. Reg. 19967; relating to prescribing additional arrangements for developing and coordinating a national Congressional Research Service https://crsreports.congress.gov IN11813 CRS INSIGHT Prepared for Membersand Committeesof Congress

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