15 U.S.C. § 648b — Grants for SBDCs

FEDERAL · 15 U.S.C. · Chapter 14A

Grants for SBDCs

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 14A — AID TO SMALL BUSINESS

(a)In general The Administrator may make grants to small business development centers under section 648 of this title to provide targeted technical assistance to small business concerns seeking access to capital or credit, Federal procurement opportunities, energy efficiency audits to reduce energy bills, opportunities to export products or provide services to foreign customers, adopting, making innovations in, and using broadband technologies, or other assistance.

(b)Allocation

(1)In general Subject to paragraph (2), and notwithstanding the requirements of section 648(a)(4)(C)(iii) of this title, the amount appropriated to carry out this section shall be allocated under the formula under section 648(a)(4)(C)(i) of this title.

(2)Minimum funding The amount made available under this sec

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(a) In general
The Administrator may make grants to small business development centers under section 648 of this title to provide targeted technical assistance to small business concerns seeking access to capital or credit, Federal procurement opportunities, energy efficiency audits to reduce energy bills, opportunities to export products or provide services to foreign customers, adopting, making innovations in, and using broadband technologies, or other assistance.
(b) Allocation
(1) In general
Subject to paragraph (2), and notwithstanding the requirements of section 648(a)(4)(C)(iii) of this title, the amount appropriated to carry out this section shall be allocated under the formula under section 648(a)(4)(C)(i) of this title.
(2) Minimum funding
The amount made available under this section to each State shall be not less than $325,000.
(3) Types of uses
Of the total amount of the grants awarded by the Administrator under this section—
(A) not less than 80 percent shall be used for counseling of small business concerns; and
(B) not more than 20 percent may be used for classes or seminars.
(c) No non-Federal share required
Notwithstanding section 648(a)(4)(A) of this title, the recipient of a grant made under this section shall not be required to provide non-Federal matching funds.
(d) Distribution
Not later than 30 days after the date on which amounts are appropriated to carry out this section, the Administrator shall disburse the total amount appropriated.
(e) Authorization of appropriations
There is authorized to be appropriated to the Administrator $50,000,000 to carry out this section.

15 U.S.C. § 648b (Grants for SBDCs) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 111–240, title I, §1402, Sept. 27, 2010, 124 Stat. 2550.)

Editorial Notes

Editorial Notes

Codification
Section was enacted as part of the Small Business Jobs Act of 2010, and not as part of the Small Business Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Definitions
For definition of "Administrator" and "small business concern" as used in this section, see section 1001 of Pub. L. 111–240, set out as a note under section 632 of this title.