New Start Act of 2025
The New Start Act of 2025 creates a federal grant program to fund entrepreneurship training and support for formerly incarcerated individuals and currently incarcerated individuals in federal prisons. Organizations receiving grants must provide business planning, financial literacy, and mentorship services, while connecting participants to small business loan resources like Community Advantage Lending Companies. Grants of $100,000 to $500,000 annually will support these programs for five years, with requirements for geographic diversity and partnerships with groups like small business development centers. The program mandates annual reports tracking participant demographics, program participation, and outcomes like recidivism rates and business success.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2025
Committee Review
Floor Vote
President
Introduced Apr 28, 2025
Last action Apr 28, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 28, 2025
Committee
Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Apr 28, 2025
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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