Supporting NEW BUSINESSES Act

This bill creates an annual award program administered by the Small Business Administration to recognize state and local governments that simplify business formation processes. It provides three distinct awards each year based on community size: one for communities over 400,000 people, one for 100,000-400,000 people, and one for communities under 100,000 people. To qualify, governments must demonstrate reducing paperwork, creating user-friendly online portals, or eliminating jurisdictional inconsistencies in business setup requirements. The program aims to incentivize streamlined procedures for new small business owners without changing existing formation laws.