Small Business Opportunity Grants Act of 2024

Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently IN_COMMITTEE. The next step in the legislative lifecycle is Floor Vote.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

If passed, this bill would authorize federal funding for up to 1,000,000 small business grants in 2025, potentially providing direct financial support to a wide range of historically underserved entrepreneurs.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

Eligible small business owners may apply for grants of up to $20,000.

Community development financial institutions

These lenders are eligible to receive grants and technical assistance to facilitate the program.

Small Business Administration

The agency is tasked with establishing the grant program, promulgating regulations, and managing data collection and reporting.

What changed

Current stage: IN_COMMITTEE.

What's next

Floor Vote.

Background

Senator Markey is a U.S. Senator representing Massachusetts. context
The Small Business Administration is a federal agency that provides support to entrepreneurs and small businesses through loans, loan guarantees, and counseling. context

Summary

This bill directs the Small Business Administration (SBA) to create a new grant program providing up to $20,000 each to eligible small businesses and specific types of lenders. The program targets businesses in underserved areas, new startups, and those owned by socially or economically disadvantaged individuals, veterans, women, or people with disabilities.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who is eligible to receive a grant?

Eligible recipients include new businesses, businesses in low-to-moderate income or rural areas, and businesses owned by women, veterans, individuals with disabilities, formerly incarcerated individuals, or socially and economically disadvantaged individuals.

How much money can a business receive?

The bill caps the amount of a grant awarded to an eligible recipient at $20,000.

Will my personal information be made public if I receive a grant?

The SBA is required to publish data on grant recipients, but the bill explicitly mandates that the agency take all necessary steps to protect the privacy of individuals' personally identifiable information.

Why It Matters

If passed, this bill would authorize federal funding for up to 1,000,000 small business grants in 2025, potentially providing direct financial support to a wide range of historically underserved entrepreneurs.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Related Legislation

Federal Bill85% related

Mapping Housing Discrimination Act (S. 5534)

This bill creates a federal grant program for colleges and universities to find, digitize, and map historical records of housing discrimination dating

Federal Bill85% related

Investing in All of America Act of 2024

This bill changes how the Small Business Administration (SBA) calculates investment limits for Small Business Investment Companies (SBICs) to encourag

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Inclusion of formerly incarcerated individuals

The bill explicitly includes business owners who have completed a term of imprisonment as an eligible category, marking a specific focus on reentry support.

Small Business Administration

Connected Entities

otherRiegle Community Development and Regulatory Improvement Act of 1994“Defines 'community development financial institution'.”Map →

organizationSmall Business Administration“The agency administering the grant program.”Map →

otherFinancial Institutions Reform, Recovery, and Enforcement Act of 1989“Defines 'minority depository institution'.”Map →

organizationBureau of the Census“Defines 'rural area'.”Map →

personMarkey“Senator Markey introduced the bill.”Map →

otherAmericans with Disabilities Act of 1990“Defines 'disability'.”Map →

Analysis Score

0–100

Significance85
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz30
Current news / social attention level