HR 1226 United States House · 117th Congress

Next Generation Entrepreneurship Corps Act

Summary

Next Generation Entrepreneurship Corps Act This bill establishes the Next Generation Entrepreneurship Corps Program to promote entrepreneurship in the most distressed regions of the United States, including those regions affected by COVID-19 (i.e., coronavirus disease 2019), by awarding participating fellows a two-year stipend to start and grow a new small business. Fellows will receive (1) a $120,000, two-year stipend for living and basic startup expenses; (2) health care; and (3) interest-free federal student loan deferral for two years. Further, fellows shall receive mentorship from the Service Corps of Retired Executives and be matched with a full range of lenders, investors, and insurers. The bill also establishes a fund in the Department of the Treasury from which the SBA may provide loans for qualified investors to support a small business owned and operated under the program by a fellow.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2021

Committee Review

Floor Vote

President

Introduced Feb 23, 2021 Last action Feb 23, 2021

Floor votes

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No floor votes recorded yet.

Full legislative history

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Key actions

Committee

Feb 23, 2021

Committee

Referred to the Committee on Small Business, and in addition to the Committee on Education and Labor, 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.

lower

Feb 23, 2021

Introduced

Introduced in House

lower

1 primary · 24 co-sponsors