H.R. 1842: Expanding Entrepreneurship Act of 2009

H.R. 1842

Expanding Entrepreneurship Act of 2009

Date
November 17, 2009 (111th Congress, 1st Session)

Staff Contact
Communications

Floor Situation

The House is scheduled to consider H.R. 1842, under suspension of the rules, requiring a two-thirds majority vote for passage.  H.R. 1842 was introduced on April 1, 2009, by Rep. Blaine Luetkemeyer (R-MO).  The bill was incorporated into H.R. 2352, which passed the House on May 20, 2009, by a vote of 406-15.

 

Bill Summary

H.R. 1842 requires the Small Business Administration (SBA) to develop a plan for creating jobs through its entrepreneurial development programs. The SBA would also have to implement a consistent data collection process for all of its development programs. The SBA Administrator would establish a web-based portal with comprehensive information on all of the agency's development resources.

Background

The SBA, created in 1953, has a loan portfolio of about 220,000 loans worth over $50 billion. The SBA operates several financing programs that offer subsidies to small businesses attempting to secure access to capital.

Cost

A CBO score for H.R. 1842 is not yet available.