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Code · BILL · 116th Congress · H.R. 225 (Introduced in House) — To provide for small business concerns located in Puerto Rico, and for other purposes. · Sec. 302

Sec. 302. FAST grant program for Puerto Rico

164 words·~1 min read·/bill/116/hr/225/ih/section-302

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Section 34 of the Small Business Act ( 15 U.S.C. 657d ) is amended by adding at the end the following: The Administrator shall establish a program that shall be part of the FAST program to make awards to, or enter into cooperative agreements with, a Puerto Rico business. If no applicant is selected to receive assistance under this subsection, the Administrator shall use amounts appropriated to carry out this subsection to provide business advice and counseling to a Puerto Rico business.
The Administrator may, upon application, waive the matching requirements under subsection (e)(2) for an applicant that receives an award or has in effect a cooperative agreement under this subsection. There is authorized to be appropriated $100,000 for fiscal year 2020, and each fiscal year thereafter, to carry out this subsection. . Subsection
(a)shall be repealed, and the provisions of law amended by such subsection shall be restored as if such subsection had not been enacted, on the Oversight Board termination date.
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Sec. 302
FAST grant program for Puerto Rico
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