Quick Reference

NOTABLE LEGISLATION

Over the past year a number of bills impacting business enterprises were introduced that have the potential to advance opportunity for women entrepreneurs. The following selection captures just a few of the bills that show promise, whether through their bipartisanship, ingenuity, or tailored approach to supporting the specific needs of women in business.

Women’s Business Centers Improvement Act of 2023 (S.2184) – Introduced by Sens. Cardin, Duckworth, Hirono, Shaheen, and Cantwell, this bill would reauthorize and improve the Small Business Administration’s (SBA’s) Women’s Business Center Program.
Interagency Committee on Women’s Business Enterprise Act of 2023 (S.2094) – Introduced by Sen. Duckworth, this bill would reauthorize the Interagency Committee for Women’s Business Enterprise to help coordinate federal resources to encourage the success of women-owned businesses.
MicroCap Small Business Investing Act of 2023 (S.1157/H.R.3717) – Introduced by Sens. Hickenlooper, Risch, and Cortez Masto and Reps. Neguse and Young, this bill would create a new Small Business Investment Company license designation to diversify fund managers.
PREPARE Act of 2023 (S.1370/H.R.2966) – Introduced by Sens. Rubio and King and Reps. Morelle and Stauber, this bill would reauthorize SBA’s Pre-Disaster Mitigation Pilot Program to give small businesses the opportunity to take out low-interest loans to proactively implement mitigation measures to protect their property from future disaster-related damage
FAST Fix Act of 2023 (S.1003) – Introduced by Sen. Risch and Rosen, this bill would modify SBA’s Federal and State Technology Partnership Program to encourage federal economic development grants to be awarded to small businesses or universities that do not typically receive Small Business Innovation Research/Small Business Technology Transfer awards.
Small Business Child Care Investment Act (S. 673/H.R.2602) – Introduced by Sens. Rosen and Ernst and Reps. Lee and Stauber, this bill would make non-profit childcare businesses eligible for SBA loans.
SCORE for Small Business Act of 2023 (S.1744) – Introduced by Sens. Coons and Cardin, this bill would reauthorize and improve the SCORE volunteer program, a valuable SBA resource partner.
Supporting Small Business and Career and Technical Education Act of 2023 (S.936/ H.R.1730) – Introduced by Sens. Marshall, Coons, and Cardin and Reps. Williams and Gluesenkamp Perez, this bill would connect technical education program graduates to small business resource centers, including women’s business centers.
Supporting Community Lenders Act (S.2099) – Introduced by Sens. Hickenlooper, Hyde-Smith, Warner, and Braun, this bill would establish a coordinator for Community Development Financial Institutions within the SBA to help advocate for community lenders.
Microloan Transparency and Accountability Act of 2023 (H.R.449) – Introduced by Reps. Burchett, Kim, and Fitzgerald, this bill would require additional reporting from SBA regarding microloans.
Expanding Access to Capital for Rural Job Creators Act (S.294/H.R.298) – Introduced by Sens. Kennedy and Smith and Reps. Mooney, Pappas, and Cuellar, this bill would require the Securities and Exchange Commission Office of the Advocate for Small Business Capital Formation to submit an annual report on the unique challenges small businesses in rural areas face when trying to secure capital.
Research Advancing to Market Production for Innovators Act (S.1396/H.R. 3056) – Introduced by Sen. Coons and Rubio and Rep. Houlahan and Balderson, this bill would support American innovation by expediting the application processes for two federal small business programs, making small business federal grantees eligible for fast-tracked U.S. Patent Office services, and improving technical and business assistance.
SPUR Act (H.R. 3716) – Introduced by Reps. Neguse and Salazar, this bill would raise the government-wide goal for participation by small businesses in procurement contracts from 23 percent to 25 percent
21st Century Entrepreneurship Act (S.1222) – Introduced by Sens. Cortez Masto and Blackburn would connect students enrolled in 21st Century Community Learning Centers with mentors from SCORE to help them develop professional skills in entrepreneurship
Small Business Innovation Voucher Act of 2023 (S.1739/H.R.3603) – Introduced by Sen. Cortez Masto and Young and Reps. Crow and Burchett, this would create a voucher program at SBA to provide grants for small businesses to partner with higher education institutions to conduct research and development.
Supporting NEW BUSINESSES Act (S.1221) – Introduced by Sen. Cortez Masto and Moran, this bill would require SBA to provide annual awards to states to encourage new business development.
Minority Entrepreneurship Grant Program Act of 2023 (S.1402) – Introduced by Sens. Rosen and Tillis, this bill would establish a grant program to create or expand programs at minorityserving institutions and historically black colleges and universities (HBCUs) that promote minority business ownership and entrepreneurship.
Child Care Workforce and Facilities Act of 2023 (S.268) – Introduced by Sens. Klobuchar and Sullivan, this bill would provide competitive grants for states to train childcare workers and build or renovate childcare facilities.
Data Science and Literacy Act of 2023 (H.R.1050) – Introduced by Reps. Stevens and Baird, this bill would establish a Department of Education grant to encourage data literacy and data science education.
STEM RESTART Act (S.662/H.R.1403) – Introduced by Sens. Rosen, Hyde-Smith, and Kelly and Reps. Houlahan and Baird, this bill would provide funding to support mid-career internships, or “returnships,” at small- and medium-sized science, technology, engineering, and mathematics (STEM) businesses for workers reentering or transitioning into the STEM workforce.
Apprenticeship Hubs Across America Act of 2023 (S.249/H.R.2900) – Introduced by Sens. Coons and Young and Rep. Norcross and Fitzpatrick, this bill would establish a new Department of Labor apprenticeship hubs network.