Summary: H.R.4931 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.4931. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/30/2019)

Incubator Act of 2019

This bill requires the Department of Commerce to establish a grant program to provide financial assistance to support the growth and success of business incubators.

Commerce shall (1) award such grants competitively; (2) take into account factors such as population, unemployment level, and business creation metrics, as well as giving priority to applicants located in opportunity zones (low-income communities); and (3) award no more than $5 million to applicants in a single state and no more than $500,000 to a single grantee during a fiscal year. An entity receiving a grant may use the funds for operating expenses but may not use the funds for capital expenditures.