H.R.4876 - Emerging Business Encouragement Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Carson, Andre [D-IN-7] (Introduced 06/17/2014)|
|Committees:||House - Small Business|
|Latest Action:||House - 06/17/2014 Referred to the House Committee on Small Business. (All Actions)|
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Summary: H.R.4876 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (06/17/2014)
Emerging Business Encouragement Act of 2014 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA), for each industry category for which the Administrator established a size standard, to establish procedures, by rule, for designating a small business in that industry category as an emerging business enterprise (EBE).
Requires the procedures to include specified criteria and a process for appealing the Administrator's decisions on designations.
Requires the designation to expire when the small business is no longer in compliance with the criteria, except that:
- in the case of an EBE which existed as a business entity before its EBE designation, the designation shall not expire until five years after it was made; and
- if the EBE exceeds the required size limitation its designation shall expire only if the size is 50% or more of the maximum size of a small business within that industry category.
Directs the Administrator to establish criteria for designation of an EBE, including:
- a maximum number of employees determined according to a certain formula,
- an age of not more than five years, and
- a specified salary limitation for any individual who owns any part of the small business or who is in a management position.
Requires the head of each federal agency to establish goals for participation by the designated EBEs in at least 5% of all contracts, including prime contracts and subcontracts, for each fiscal year.
Authorizes the Administrator to make a loan to a designated EBE under the SBA Express Loan Program, but only in accordance with specified terms.
Requires the Administrator, by rule, to establish a process for initial self-certification of EBEs for purposes of participation in federal contracts and eligibility for the Express Loans.