Today's Entrepreneurs are America's Mentors Act or TEAM Act - Amends the Small Business Act to establish in the Small Business Administration (SBA) an Office of Entrepreneurial Education, headed by a Director, to develop and provide innovative entrepreneurial information, education, and resources to promote prospective entrepreneurs and successful small businesses. Directs the SBA's Associate Administrator for Entrepreneurial Development to establish a program of grants to nonprofit organizations to provide technical assistance to primary and secondary schools for the development and implementation of curricula and mentoring programs designed to promote entrepreneurship. Requires the Director to submit to the congressional small business committees best practices of U.S. entrepreneurial education and training programs.
Authorizes the SBA Administrator to award up to 100 scholarships per year to students pursuing a Masters of Business Administration degree. Requires each student, in return for such scholarship, to provide, on a full-time basis for one to two weeks, free technical assistance, counseling, and related assistance to small businesses and entrepreneurs.
Directs the Administrator to establish a program to host regional competitions and a national conference to address regional challenges through entrepreneurial research and business planning.
Requires the Administrator to recommend to Congress legislation for establishing programs to forgive or defer student loan payments in order to assist youth entrepreneurship by making capital available for business formation.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3214 Introduced in Senate (IS)]
112th CONGRESS
2d Session
S. 3214
To strengthen entrepreneurial education, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 22, 2012
Ms. Landrieu (for herself, Mr. Lieberman, Mr. Kerry, and Mr. Harkin)
introduced the following bill; which was read twice and referred to the
Committee on Small Business and Entrepreneurship
_______________________________________________________________________
A BILL
To strengthen entrepreneurial education, 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 ``Today's Entrepreneurs are America's
Mentors Act'' or the ``TEAM Act''.
SEC. 2. DEFINITIONS.
In this Act--
(1) the terms ``Administration'' and ``Administrator'' mean
the Small Business Administration and the Administrator
thereof, respectively; and
(2) the term ``small business concern'' has the meaning
given that term under section 3 of the Small Business Act (15
U.S.C. 632).
SEC. 3. OFFICE OF ENTREPRENEURIAL EDUCATION.
(a) In General.--The Small Business Act (15 U.S.C. 631 et seq.) is
amended--
(1) by redesignating section 45 (15 U.S.C. 631 note) as
section 46; and
(2) by inserting after section 44 (15 U.S.C. 657q) the
following:
``SEC. 45. ENTREPRENEURIAL EDUCATION.
``(a) Office of Entrepreneurial Education.--
``(1) In general.--There is in the Administration an Office
of Entrepreneurial Education, which shall develop and provide
innovative entrepreneurial information, education, and
resources, to promote prospective entrepreneurs and successful
small business concerns.
``(2) Director.--The head of the Office of Entrepreneurial
Education is the Director of the Office of Entrepreneurial
Education, who shall report to the Associate Administrator for
Entrepreneurial Development.
``(3) Duties.--The Director of the Office of
Entrepreneurial Education shall--
``(A) manage the online courses, online
publications, and other online resources provided by
the Administration to entrepreneurs and small business
concerns;
``(B) manage the youth entrepreneurship programs of
the Administration, including--
``(i) online resources for youth
entrepreneurs; and
``(ii) coordination and outreach with
entrepreneurial development service providers
that provide counseling and training to youth
entrepreneurs desiring to start or expand small
business concerns;
``(C) coordinate with nonprofit and other private
sector partners to share educational materials on money
management and financial literacy for entrepreneurs and
small business concerns; and
``(D) provide assistance and courtesy services to
individuals and foreign dignitaries visiting the United
States who are interested in issues relating to
entrepreneurs and small business concerns.
``(b) National Primary and Secondary School Entrepreneurial
Education Program.--
``(1) In general.--Not later than 1 year after the date of
enactment of the Today's Entrepreneurs are America's Mentors
Act, the Associate Administrator for Entrepreneurial
Development (referred to in this subsection as the `Associate
Administrator') shall establish a program under which the
Associate Administrator may make grants to nonprofit
organizations, including small business development centers,
SCORE chapters, women's business centers, and other resource
partners of the Administration, to provide technical assistance
to primary and secondary schools for the development and
implementation of curricula and mentoring programs designed to
promote entrepreneurship.
``(2) Application.--A nonprofit organization desiring a
grant under this subsection shall submit to the Associate
Administrator an application that contains--
``(A) a description of the goals of the project to
be funded using the grant;
``(B) a list of any partners that plan to
participate in the project to be funded using the
grant; and
``(C) any other information that the Associate
Administrator determines is necessary.
``(3) Report.--Not later than 1 year after the date on
which a nonprofit organization receives a grant under this
subsection, the nonprofit organization shall submit to the
Associate Administrator a report that describes--
``(A) the individuals assisted using the grant;
``(B) the number of jobs created or saved through
the use of the grant; and
``(C) any other information concerning the use of
the grant that the Associate Administrator may require.
``(4) Authorization of appropriations.--There are
authorized to be appropriated to carry out this subsection
$3,000,000 for each of fiscal years 2013, 2014, and 2015.''.
(b) Report on Best Practices of Entrepreneurial Education and
Training Programs.--
(1) Report required.--Not later than 180 days after the
date of enactment of this Act, the Director of the Office of
Entrepreneurial Education shall submit to the Committee on
Small Business and Entrepreneurship of the Senate and the
Committee on Small Business of the House of Representatives a
report that describes best practices of entrepreneurial
education and training programs throughout the United States.
(2) Contents.--The report submitted under paragraph (1)
shall include--
(A) a description of any programs that the Director
of the Office of Entrepreneurial Education determines
are exemplary, including national programs, regional
programs, State programs, and local programs; and
(B) a summary of entrepreneurial education and
training programs carried out by--
(i) the Federal Government;
(ii) State and local governments; and
(iii) as nonprofit organizations and
private sector groups.
SEC. 4. MASTER OF BUSINESS ADMINISTRATION SCHOLARSHIP PILOT PROGRAM.
(a) In General.--The Administrator may award not more than 100
scholarships of not more than $1,500 on a merit-reviewed, competitive
basis to students who are pursuing a Masters of Business Administration
degree.
(b) Requirements.--
(1) Agreement to provide assistance.--A student receiving a
scholarship under subsection (a) shall enter into an agreement
with the Administrator under which the student shall, during
the fiscal year during which the student receives the
scholarship, provide free technical assistance, counseling, and
other assistance to small business concerns and entrepreneurs
on a full-time basis for a period of 1 or 2 weeks.
(2) Requirements.--The Administrator shall ensure that--
(A) not less than 50 percent of the students
receiving a scholarship under subsection (a) are
students at an institution of higher education (as
defined in section 101 of the Higher Education Act of
1965 (20 U.S.C. 1001)) where entrepreneurship
opportunities are limited;
(B) the activities carried out under agreements
under paragraph (1) support a variety of small business
concerns and entrepreneurial projects, including
independent investigator-led projects,
interdisciplinary projects, and multi-institutional
projects (including virtual projects); and
(C) each student receiving a scholarship under
subsection (a) has a mentor to help the student relate
the academic course of study of the student to the
assistance to be provided under the agreement under
paragraph (1).
(3) Data collection.--A student receiving a scholarship
under subsection (a) and a small business concern or
entrepreneur receiving assistance under an agreement under
paragraph (1) shall agree to provide to the Administrator
information relating to the use and result of the assistance
provided and employment status until the end of the 3-year
period beginning on the expected graduation date of the
student.
(c) Failure To Comply With Agreement.--If a student receiving a
scholarship under subsection (a) fails to comply with the agreement
entered under subsection (b)(1), the amount of the scholarship received
by the student shall, upon a determination of such a failure, be
treated as a Federal Direct Unsubsidized Stafford Loan under part D of
title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.),
and shall be subject to repayment, together with interest thereon
accruing from the date of the award, in accordance with terms and
conditions specified by the Administrator (in consultation with the
Secretary of Education) in regulations under this section.
(d) Authorization of Appropriations.--There are authorized to be
appropriated to the Administrator $200,000 for each of fiscal years
2013 through 2015 to carry out this section.
(e) Sunset.--The Administrator may not award a scholarship under
this section after September 30, 2015.
SEC. 5. REGIONAL ENTREPRENEURIAL COMPETITIONS.
(a) In General.--The Administrator, acting through the Associate
Administrator for Field Operations, shall establish a program to host
regional competitions and a national conference to address regional
challenges through entrepreneurial research and business planning.
(b) Program Requirements.--
(1) Regional offices.--The regional administrator of each
regional office of the Administration shall--
(A) identify a prominent public-private issue that
challenges a broad range of individuals in the region;
(B) sponsor a single regional competition among
local small business concerns, inventors, and
entrepreneurs under which persons or groups of persons
submit research and business plans to address the issue
identified under subparagraph (A);
(C) provide outreach to universities, colleges,
business communities, industry leaders and
organizations, and nonprofit organizations to promote
the competition and to request proposals for research
and business plans;
(D) in coordination with the Director of the Office
of Entrepreneurship Education, select the 3 research or
business plans that best address the issue identified
under subparagraph (A); and
(E) submit to the Administrator a report that
contains the research or business plans selected under
subparagraph (D).
(2) Conference.--
(A) In general.--The Administrator, acting through
the Associate Administrator for Field Operations, shall
organize a single national conference for the
presentation of the research and business plans
selected under paragraph (1)(D) by the regional
administrators.
(B) Panel.--
(i) In general.--The Administrator shall
designate 11 employees of the Administration to
serve on a panel that shall select, from among
the research and business plans presented at
the conference, 1 plan from each region that
best addresses the issue identified under
paragraph (1)(A) for that region.
(ii) Members.--The Administrator shall
designate as a member of the panel under clause
(i)--
(I) 1 employee of the principal
office of the Administration; and
(II) 1 employee from each of the
regional offices of the Administration.
(3) Grant.--
(A) In general.--The Administrator shall award a
grant of $50,000 to each person or group of persons who
submitted a plan selected under paragraph (2)(B).
(B) Report.--Not later than 1 year after the date
on which the Administrator awards a grant under
subparagraph (A), the recipient of the grant shall
submit to the Administrator a report on the use of the
grant.
(4) Authorization of appropriations.--There are authorized
to be appropriated to the Administrator $750,000 to carry out
this section.
SEC. 6. STUDY ON ENTREPRENEURIAL DEFERMENT OF STUDENT LOANS.
Not later than 180 days after the date of enactment of this Act,
the Administrator, in consultation with the Secretary of Education,
shall submit to Congress a report that includes detailed
recommendations for legislation--
(1) establishing a program to forgive student loans in a
manner that assists youth entrepreneurship by making available
capital for business formation; and
(2) establishing a program to defer student loan repayments
in a manner that assists youth entrepreneurship by making
available capital for business formation.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3424-3435)
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S3425-3426)
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