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.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2020-03-23 | IntroReferral | 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. | House floor actions |
| 2020-03-23 | IntroReferral | 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. | House floor actions |
| 2020-03-23 | IntroReferral | Introduced in House | Library of Congress |