SOAR Act
Latest action · Jul 17, 2019 Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 17, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Startup Opportunity Accelerator Act of 2019 or the SOAR Act
This bill requires the Small Business Administration to develop and implement a program to award cash grants of up to $100,000 to organizations that support new small businesses. These awards may be used for construction costs, space acquisition, and programmatic purposes, but they may not be used to provide capital or professional services to small businesses directly or through the subaward of funds.
The organization must have the support of new small businesses as a primary purpose and be often classified as an accelerator. The term accelerator means an organization that (1) frequently provides, but is not exclusively designed to provide, seed investment in exchange for a small amount of equity; (2) works with a startup for a predetermined amount of time; (3) provides mentorship and instruction to scale businesses; or (4) offers startup capital or the opportunity to raise capital from outside investors.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jul 17, 2019Introduced in Senate
- Jul 17, 2019Read twice and referred to the Committee on Small Business and Entrepreneurship.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Business education
- Business investment and capital
- Commerce
- Correctional facilities and imprisonment
- Disability and paralysis
- Government information and archives
- Indian social and development programs
- Minority and disadvantaged businesses
- Small business
- Veterans' education, employment, rehabilitation
- Women in business
Text 1
Each version as it was printed, newest first.
- Jul 17, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.