Small Business Territories Support Act
Small Business Support: New Office for US Territories
This bill is currently in the early stages of the legislative process after being sent to the House Committee on Small Business for review. It is actively moving through the system, but no further hearings or votes have been scheduled yet.
Legislative Progress
The bill has support from territory representatives but faces a long path through the committee process before it can reach a full vote.
Key Points
- This bill creates a new Office of Territorial Affairs within the Small Business Administration. It focuses on helping small businesses in Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and the Northern Mariana Islands. These areas often face unique challenges that businesses on the mainland do not.
- A new official will lead the office and must have experience working with the specific needs of these islands. This leader will help business owners get access to government loans, training programs, and disaster relief. They will also help these businesses compete for contracts to do work for the federal government.
- The office will serve as a direct link between island business owners and federal agencies. They will host online meetings and local events to explain what help is available. They will also regularly check to see if current government programs are actually meeting the needs of people living in the territories.
- Each year, the office will report to Congress on its progress. The report will include the number of businesses helped and how many new companies were started in each territory. This ensures the government can see if the program is working and find ways to improve it over time.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Small Business.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Small Business Territories Support Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.