HR 4499 United States House · 118th Congress

IDEA Act of 2023

Summary

Increasing and Developing Entrepreneurship Access Act of 2023 or the IDEA Act of 2023 This bill requires the Minority Business Development Agency (MBDA) to establish a grant program to provide entrepreneurship opportunities for minority businesses. These grants shall be awarded to business accelerators for providing (1) capital to minority businesses, (2) networking programs that connect such businesses to sources of capital and innovation, and (3) other appropriate assistance. The MBDA must submit an annual report on the program that includes the number of grants provided, the number of minority businesses that have received assistance from grant recipients, and a description of any noncompliance by grant recipients. The bill also establishes penalties (a fine or imprisonment) for a grant recipient that knowingly uses award amounts for any purpose not permitted under the program.

Bill status in committee 1 of 4 stages cleared

Introduction

Jul 2023

Committee Review

Floor Vote

President

Introduced Jul 6, 2023 Last action Jul 6, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 6, 2023

Committee

Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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

Jul 6, 2023

Introduced

Introduced in House

lower

1 primary · 3 co-sponsors