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US HB5826
Bill
Status
10/24/2025
Primary Sponsor
Haley Stevens
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AI Summary
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Requires the Under Secretary of Commerce for Minority Business Development to establish a grant program within 180 days providing $1,000,000 annually for five consecutive years to business accelerator entities serving minority business enterprises
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Federal funding covers up to 75% of total program costs, with grants supporting direct capital transfers, networking programs connecting minority businesses to capital sources, and other entrepreneurship assistance
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Eligible regions must contain at least 15 minority business enterprises each generating minimum $250,000 annual revenue
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Authorizes $25,000,000 annually for fiscal years 2026 through 2030, with annual Congressional reporting requirements on grant numbers, amounts, and assisted businesses
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Establishes misdemeanor penalties including fines and up to one year imprisonment for business accelerator entities that knowingly misuse grant funds
Legislative Description
IDEA Act of 2025 Increasing and Developing Entrepreneurship Access Act of 2025
Commerce
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
10/24/2025