Sec. 100201. Funding for uplift incubators
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In addition to amounts otherwise available, there is appropriated to the Small Business Administration for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, to remain available until September 30, 2031— $850,000,000 for carrying out section 49 of the Small Business Act, as added by subsection (b); and $150,000,000 for administrative expenses and costs related to carrying out section 49 of the Small Business Act, as added by subsection (b). The Small Business Act is amended— by redesignating section 49 ( 15 U.S.C. 631 note) as section 54; and by inserting after section 48 the following:
In this section: The term economic development organization — means a regional, State, tribal, or local private nonprofit organization established for purposes of promoting or otherwise facilitating economic development; and includes community financial institutions, as defined in section 7(a)(36)(A). The term eligible applicant means— an economic development organization; an SBA partner organization; a historically Black college or university; an institution of higher education, as described in section 371(a) of the Higher Education Act; or a junior or community college.
The term eligible small business concern means a business concern that— is organized or incorporated in the United States; is operating primarily in the United States; meets— the applicable industry-based size standard established under section 3; or the alternate size standard applicable to the program under section 7(a) or the loan programs under title V of the Small Business Investment Act of 1958; is— in the planning stages or has been in business for not more than 5 years as of the date on which assistance under this section commences; or a small government contractor; and is— owned and controlled by 1 or more members of an underrepresented community; or a Native Entity.
The term historically Black college or university means a part B institution , as defined in section 322 of the Higher Education Act of 1965. The term member of an underrepresented community means an individual— who is a resident of— a low-income community, as defined in section 45D(e) of the Internal Revenue Code of 1986; a low-income rural community; or a HUBZone, as defined in section 31(b); who is a member of an Indian or Alaska Native tribe, band, nation, pueblo, village, community, component band, or component reservation, individually identified (including parenthetically) in the most recent list published pursuant to section 104 of the Federally Recognized Indian Tribe List Act of 1994; with a disability, as defined in section 3 of the Americans with Disabilities Act of 1990; who is a veteran; who completed a term of imprisonment; or who is otherwise identified by the Administrator.
The term Native Entity means— an Alaska Native Corporation, as defined in section 3(m) of the Alaska Native Claims Settlement Act; and a Native Hawaiian organization, as defined in section 6207 of the Elementary and Secondary Education Act of 1965. The term SBA partner organization means any organization awarded financial assistance in the form of a grant, prize, cooperative agreement, or contract for the purpose of conducting a public project funded, either in whole or in part, under a program of the Administration.
The term small government contractor means a small business concern that is performing a government contract or subcontract. The term uplift incubator means an organization that is designed to accelerate the growth and success of startups and small business concerns through a variety of business support resources and services, including— access to physical workspace and facilities; access to capital, business education, and counseling; networking opportunities; mentorship opportunities; assistance in becoming prime contractors and submitting bids for prime contracts; conducting market research, drafting statements, and identifying acquisition authorities under which eligible small business concerns assisted under this section may enter into Federal contracts or agreements; and other services intended to aid in developing a business.
The Administrator may provide financial assistance on a competitive basis in the form of a grant, prize, cooperative agreement, or contract to an eligible applicant for purposes of— providing the services of a uplift incubator to eligible small business concerns; or expanding or establishing a network of the eligible applicant to provide the services of a uplift incubator to eligible small business concerns. An eligible applicant that receives assistance under this section— shall support areas that serve members of an underrepresented community by providing the services of a uplift incubator; and shall not impose or otherwise collect a fee or other compensation from eligible small business concerns in connection with the provision of such services.
At the discretion of the Administrator and in addition to any other civil or criminal consequences, the Administrator shall withhold payments to an eligible applicant or order the eligible applicant to return any assistance provided under this section for failure to abide by the terms and conditions of such assistance. .
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Sec. 100201
Funding for uplift incubators
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