Ushering Progress by Leveraging Innovation and Future Technology Act of 2021 or the UPLIFT Act of 2021 This bill requires the Small Business Administration (SBA) to establish the Innovation Centers Program for providing assistance to startups and new or growing small businesses. Under the program, the SBA may enter into cooperative agreements to provide financial assistance to historically Black colleges and universities, minority-serving institutions, and community colleges. Such entities must then undertake five-year projects operating as an innovation-focused small business accelerator or incubator. These projects must involve working with underserved groups, include the joint provision of programs and services by the entities and the SBA, and ensure participating small businesses have access to regulatory information that affects them.
New Business Preservation Act This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury must work with states to invest in new businesses and startups. Specifically, the bill requires Treasury to provide certain funds to participating states, which these states must use to administer specified approved programs that provide equity investment in new businesses. Treasury must also award funds to approved state programs to provide follow-on investments. If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An exit is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders.
Robust International Response to Pandemic Act This bill requires the Department of the Treasury and each U.S. Executive Director at an international financial institution to take certain actions in support of the global response to COVID-19 (i.e., coronavirus disease 2019). Specifically, each U.S. Executive Director at an international financial institution (e.g., the International Bank for Reconstruction and Development or the International Finance Corporation) must seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19, and require approval of all Special Drawing Rights (a currency support tool) allocation transfers from wealthier member countries to countries that are emerging or developing to ensure the allocations are used for the public good and in response to the global pandemic. Further, the U.S. Governor at the International Monetary Fund (IMF) must advocate for the issuance of Special Drawing Rights so that governments may access additional resources to finance their responses to COVID-19. Of these Special Drawing Rights allocated to the United States, Treasury must lend a specified amount to the Poverty Reduction and Growth Trust or other special purpose vehicle of the IMF to help eligible low-income countries respond to COVID-19. Treasury must also advocate for an extension of the current moratorium on debt service payments to official bilateral creditors by the world's poorest countries.
Law Enforcement Officers Equity Act This bill expands the definition of law enforcement officer under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). Specifically, the bill expands the definition to include (1) federal employees whose duties encompass the investigation or apprehension of suspected or convicted criminals and who are authorized to carry a firearm; (2) Internal Revenue Service employees whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns; (3) U.S. Postal Inspection Service employees; (4) Department of Veterans Affairs police officers; and (5) certain U.S. Customs and Border Protection employees who are seized-property specialists with duties relating to custody, management, and disposition of seized and forfeited property. The bill deems service performed by an incumbent law enforcement officer on or after the enactment date of this bill to be service performed as a law enforcement officer for retirement purposes. The past service of such incumbents shall be treated as service performed by a law enforcement officer for retirement purposes only if a written election is submitted to the Office of Personnel Management within five years after the enactment of this bill or before separation from government service, whichever is earlier. An incumbent who makes an election before the enactment of this bill may pay a deposit into the Civil Service Retirement and Disability Fund to cover prior service. A law enforcement officer shall not be subject to mandatory separation during the three-year period beginning on the enactment of this bill.
Small Business Succession Planning Act This bill requires the Small Business Administration (SBA) to establish a program to assist small businesses with developing and implementing business succession plans. The bill also provides a tax credit for a business that establishes a succession plan or that successfully carries out such a plan. A business succession plan identifies who will assume the ownership responsibilities of a small business upon the owner's death or retirement, and it includes an operational description of the small business to ensure the continuation of operations. To carry out the program, the SBA must develop and make publicly available a toolkit to assist small business with succession planning. Further, it must train resource partners on the toolkit, educate small businesses about the program, and ensure that each SBA district office and each resource partner employs someone to counsel small businesses on using the toolkit.
Well-Informed, Scientific, and Efficient Government Act of 2021 or the WISE Government Act This bill prohibits an agency from entering into a contract for a journal subscription that prohibits disclosure of the cost of the subscription to another agency or the Library of Congress. Each agency library must make policies and procedures for employee access to library subscriptions easily and clearly available to the agency's employees, including regional employees, through the intranet. The General Services Administration shall submit to Congress and each agency library a report on increasing agency library access to serials.
This bill authorizes the Department of Transportation (DOT) to award maritime career training grants to institutions of higher education and postsecondary vocational institutions for the purpose of developing, offering, or improving educational or career training programs for American workers related to the maritime workforce. Each awarded grant may not exceed $20 million. DOT must award grants based on a determination of the merits of the grant proposal submitted by the institution of higher education or postsecondary vocational institution to develop, offer, or improve maritime educational or career training programs to be made available to workers; an evaluation of the likely employment opportunities available to workers who complete a maritime educational or career training program that the institution proposes to develop, offer, or improve; an evaluation of prior demand for training programs by workers in the community served by the institution, as well as the availability and capacity of existing maritime training programs to meet future demand for training programs; and any prior designation of the institution as a Center of Excellence for Domestic Maritime Workforce Training and Education.
This bill permits the Children's Bureau of the Administration for Children & Families to provide grants for programs that reduce child abuse and neglect resulting from the substance use disorder of a parent or caregiver.
Fairness for Craft Beverage Producers Act This bill provides additional economic relief to certain beverage manufacturers in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill gives certain beverage manufacturers (e.g., breweries and wineries that derived at least 35% of their gross annual income during either 2019 or 2020 from in-person sales) access to second draw loans under the Paycheck Protection Program. Further, it makes these beverage manufacturers eligible to receive additional months of subsidized principal and interest payments on certain Small Business Administration loans.
Electric Bicycle Incentive Kickstart for the Environment Act or the E-BIKE Act This bill allows a refundable tax credit for 30% of the cost of a qualified electric bicycle. The credit is limited to $1,500 per taxpayer less all credits allowed for the two preceding taxable years. A qualified electric bicycle is a two-wheeled vehicle that is, among other things, equipped with an electric motor of less than 750 watts that is capable of propelling such vehicle.
Reservist Pay Equity Act of 2021 This bill increases the rate of the differential wage payment tax credit from 20% to 50% and requires that the maximum dollar amount of such credit be adjusted for inflation after 2021. The credit is allowed to employers for their employees who are active duty members of the uniformed services.
This bill extends for two years the election and capital gain deferral periods for qualified opportunity zones. An opportunity zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives.
