New Opportunities for Business Ownership and Self-Sufficiency Act

This bill modifies state-administered self-employment assistance programs for unemployed individuals. It removes the requirement that participants must be likely to exhaust regular unemployment benefits before joining, and instead requires them to engage in approved entrepreneurial training, business counseling, or a state-approved business plan. Participants must also certify their ongoing participation weekly. The bill increases the maximum participation cap from 5% to 10% of unemployed individuals in these programs. These changes apply starting two years after enactment, with states allowed to adopt them earlier.