[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2360 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 2360
To establish an Office of Emerging Markets within the Small Business
Administration that will strengthen the development of small business
concerns in emerging markets, including those owned by women,
minorities, veterans, and those located in rural areas, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 31, 2019
Mr. Cardin (for himself and Ms. Duckworth) introduced the following
bill; which was read twice and referred to the Committee on Small
Business and Entrepreneurship
_______________________________________________________________________
A BILL
To establish an Office of Emerging Markets within the Small Business
Administration that will strengthen the development of small business
concerns in emerging markets, including those owned by women,
minorities, veterans, and those located in rural areas, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Unlocking Opportunities in Emerging
Markets Act of 2019''.
SEC. 2. OFFICE OF EMERGING MARKETS.
Section 7 of the Small Business Act (15 U.S.C. 636) is amended by
adding at the end the following:
``(o) Office of Emerging Markets.--
``(1) Definitions.--In this subsection--
``(A) the term `Associate Administrator' means the
Associate Administrator of the Office of Capital Access
of the Administration;
``(B) the term `Director' means the Director of the
Office of Emerging Markets;
``(C) the term `microloan program' means the
program described in subsection (m);
``(D) the term `Reservist' means a member of a
reserve component of the Armed Forces named in section
10101 of title 10, United States Code;
``(E) the term `rural area' has the meaning given
the term in subsection (m)(11);
``(F) the term `service-connected' has the meaning
given the term in section 101 of title 38, United
States Code;
``(G) the term `small business concern in an
emerging market' means a small business concern--
``(i) that is located in--
``(I) a low-income or moderate-
income area for purposes of the
Community Development Block Grant
Program under title I of the Housing
and Community Development Act Of 1974
(42 U.S.C. 5301 et seq.);
``(II) a HUBZone;
``(III) a community that has been
designated as an empowerment zone or an
enterprise community under section 1391
of the Internal Revenue Code of 1986;
``(IV) a community that has been
designated as a Promise Zone by the
Secretary of Housing and Urban
Development;
``(V) a community that has been
designated as a qualified opportunity
zone under section 1400Z-1 of the
Internal Revenue Code of 1986; or
``(VI) a rural area;
``(ii) that has more than 50 percent of
employees residing in a low- or moderate-income
community;
``(iii) that is growing, newly established,
or a startup, as those terms are used in
subsection (m);
``(iv) owned and controlled by socially and
economically disadvantaged individuals,
including Black Americans, Hispanic Americans,
Native Americans, Asian Pacific Americans, and
other minorities;
``(v) owned and controlled by women;
``(vi) owned and controlled by veterans;
``(vii) owned and controlled by service-
disabled veterans; or
``(viii) not less than 51 percent owned and
controlled by one or more--
``(I) members of the Armed Forces
participating in the Transition
Assistance Program of the Department of
Defense;
``(II) Reservists;
``(III) spouses of veterans,
members of the Armed Forces, or
Reservists;
``(IV) surviving spouses of
veterans who died on active duty or as
a result of a service-connected
disability; or
``(V) individuals with a
disability, as defined in section 3 of
the Americans with Disabilities Act of
1990 (42 U.S.C. 12102).
``(2) Establishment.--There is established within the
Administration the Office of Emerging Markets, which shall be--
``(A) under the general management and oversight of
the Administration; and
``(B) responsible for the planning, coordination,
implementation, evaluation, and improvement of the
efforts of the Administrator to enhance the economic
well-being of small business concerns in an emerging
market.
``(3) Director.--
``(A) In general.--Not later than 180 days after
the date of enactment of the Unlocking Opportunities in
Emerging Markets Act of 2019, the Administrator shall
appoint a Director of the Office of Emerging Markets,
who shall--
``(i) supervise the Office of Emerging
Markets and report to the Associate
Administrator; and
``(ii) be in the Senior Executive Service.
``(B) Duties.--The Director shall--
``(i) create and implement strategies and
programs that provide an integrated approach to
the development of small business concerns in
an emerging market;
``(ii) develop and recommend policies
concerning the microloan program and any other
access to capital program of the
Administration, as such programs pertain to
small business concerns in an emerging market;
``(iii) establish partnerships to advance
the goal of improving the economic success of
small business concerns in an emerging market;
and
``(iv) review the effectiveness and impact
of the microloan program and any other access
to capital program of the Administration that
is targeted to serve small business concerns in
an emerging market.
``(C) Consultation.--In carrying out the duties
under this paragraph, the Director shall consult with
district offices of the Administration.''.
<all>
Unlocking Opportunities in Emerging Markets Act of 2019
#2360 | S Congress #116
Policy Area: Commerce
Last Action: Read twice and referred to the Committee on Small Business and Entrepreneurship. (Sponsor introductory remarks on measure: CR S5252-5253) (7/31/2019)
Bill Text Source: Congress.gov
Summary and Impacts
Original Text