Summary: H.R.5944 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.5944. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/08/2012)

Today's Entrepreneurs are America's Mentors Act or TEAM Act - Amends the Small Business Act to establish in the Small Business Administration (SBA) an Office of Entrepreneurial Education, headed by a Director, to develop and provide innovative entrepreneurial information, education, and resources to promote prospective entrepreneurs and successful small businesses. Directs the SBA's Associate Administrator for Entrepreneurial Development to establish a program of grants to nonprofit organizations to provide technical assistance to primary and secondary schools for the development and implementation of curricula and mentoring programs designed to promote entrepreneurship. Requires the Director to submit to the congressional small business committees best practices of U.S. entrepreneurial education and training programs.

Authorizes a small business development center to apply for an SBA grant to carry out a university and college entrepreneurial education program.

Directs the SBA's Associate Administrator for Entrepreneurial Development to establish an entrepreneurial innovators partnership program of grants to nonprofit organizations and specified SBA entities to carry out innovative programs that expand entrepreneurship, improve partnerships between nonprofit organizations and entrepreneurs, and promote job creation by small businesses.

Directs the Administrator to establish a program to host regional competitions and a national conference to address regional challenges through entrepreneurial research and business planning.

Requires the Administrator to recommend to Congress legislation for establishing programs to forgive or defer student loan payments in order to assist youth entrepreneurship by making capital available for business formation.