HR 6348 · 116th Congress · Commerce

To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.

Introduced 2020-03-23· Sponsored by Rep. Garcia, Sylvia R. [D-TX-29]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.(2020-03-23)

Plain Language Summary

[AI summary unavailable — showing source text] This bill requires the Minority Business Development Agency to award a grant to fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, which provides equity capital to invest in minority- and women-owned businesses. Interest earned on grant funds deposited into an interest-bearing account may be obligated and expended to carry out the grant's purposes. The Government Accountability Office shall carry out a biennial audit of the initiative and issue a report to Congress and the Minority Business Development Agency.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Waters, Maxine [D-CA-43]CA