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LEGISLATION

FY2024 CONGRESSIONAL ACTION RELATED TO NWBC’S POLICY GOALS

NWBC’s annual policy recommendations build upon its body of decades-worth research and engagement with business owners and experts and spotlight issues that have risen to the forefront of Council Members’ thinking about what women-owned businesses need to thrive. Through education and dialogue with stakeholders, Council Members amplify their conclusions and contribute to policymaking that advances women’s entrepreneurship.

We can see NWBC’s influence through what colleagues in government have achieved over the past year. In FY2024, for example, the White House

In FY2024, Congressional actions once again moved proposed legislation forward that is in keeping with NWBC recommendations concerning such critical issues for women entrepreneurs as government contracting opportunities and childcare accessibility.

and federal agencies coordinated efforts to improve the financial outlook for childcare businesses, announcing new technical assistance funding for provider firms as well as a campaign to increase SBA-backed lending to these businesses. These initiatives are consistent with NWBC’s call in FY2023 for public investments to bolster sustainable childcare provider capacity in underserved communities. Elsewhere, as the pace of investment of funding from the Bipartisan Infrastructure Law, CHIPS for America Act, and Inflation Reduction Act picked up, SBA created a new online resource page to guide small business owners to the most appropriate opportunities to secure contracts and funding to develop new technologies. Its action realized NWBC’s 2023 recommendation that SBA join with interagency partners to “facilitate the activation of current and potential entrepreneurs interested in pursuing opportunities in the industries of tomorrow.”

NWBC has consistently educated members of Congress and their staff about its findings and the thinking that has informed its policy recommendations. In FY2024, Congressional actions once again moved proposed legislation forward that is in keeping with NWBC recommendations concerning such critical issues for women entrepreneurs as government contracting opportunities and childcare accessibility

Improving Tracking and Sharing of Data on Contracting

• S. 3971/H.R. 4670, Small Business Contracting Transparency Act

○ The House enacted this bill in November 2023, and the Senate Committee voted to advance the bill in May 2024. It would require SBA to report information related to small businesses owned and controlled by women.

■ Related NWBC recommendation: 2022 Access to Capital and Opportunity Section, under "Continue to Strengthen and Work Toward Parity for the WOSB/EDWOSC Federal Contracting Program," Recommendation 1: Improve tracking and sharing of data on contracting.

• H.R. 7103, Agency Accountability Act

○ The House voted to enact this bill in April 2024. It would require the Director of Small and Disadvantaged Business Utilization of each agency that receives below a letter grade of A on its annual scorecard for small business contracting to testify before the Senate Committee on Small Business and the House Committee on Small Business and Entrepreneurship.

■ Related NWBC recommendation: 2022 Access to Capital and Opportunity Section, under "Continue to Strengthen and Work Toward Parity for the WOSB/EDWOSC Federal Contracting Program," Recommendation 1: Improve tracking and sharing of data on contracting.

• H.R. 7988, Small Business Procurement and Utilization Reform Act

○ The House Committee voted to make this bill law in June. It would require federal agencies to include the number of small businesses on their annual scorecard for prime contracting that receive a prime contract for the first time and are owned and operated by women and other marginalized small businesses.

■ Related NWBC recommendation: 2022 Access to Capital and Opportunity Section, under "Continue to Strengthen and Work Toward Parity for the WOSB/EDWOSC Federal Contracting Program," Recommendation 1: Improve tracking and sharing of data on contracting.

Enhancing Childcare Support for Entrepreneurs

• S. 673, Small Business Child Care Investment Act

○ The Senate Committee held hearings on this bill in March and April 2024. It would mandate that certain nonprofit childcare providers are small business concerns, allowing them to receive specific loans administered by SBA, such as the 7(a) loan program.

■ Related NWBC recommendation: 2023 Inclusive Entrepreneurial Ecosystems Focus Area 1, Recommendation 2: Qualified child care providers should be eligible to receive SBA loans.

• S. 1867, Expanding Childcare in Rural America Act

○ The Senate Committee held a hearing on this bill in April 2024. It would authorize new funding for childcare providers in rural, underserved communities.

■ Related NWBC recommendation: 2023 Inclusive Entrepreneurial Ecosystems Focus Area 1, Recommendation 2: Congress and the White House should build sustainable childcare capacity in rural areas through direct investments in the care economy.

• S. 3787, Right Start Child Care and Education Act

○ The Senate Committee held a hearing in April 2024. This bill would increase and allow credits and exclusion from income for employer-sponsored dependent care assistance.

■ Related NWBC recommendation: 2023 Inclusive Entrepreneurial Ecosystems Focus Area 1, Recommendation 2: Policymakers should ensure accessible, reliable, and affordable childcare services for women entrepreneurs through tax-based incentives.

• H.R. 6156, Child Care Small Business Insight and Improvement Act

○ The House Committee reported this legislation out in February 2024. It would require the Administrator of SBA to submit a report to Congress to ask for profit childcare providers to submit a report to Congress.

■ Related NWBC recommendation: 2022 Rural Women's Entrepreneurship Section, under "Redesign Pathways to Build Women's Entrepreneurship: Lack of Affordable Child Care and Equitable Paid Family and Medical Leave (PFML)" Expand entrepreneurial development resources to childcare businesses.

Strengthening Women's Business Centers and Resources

• S. 2194, Women's Business Centers Improvement Act

○ The Senate Committee held hearings in November 2023. The bill would modify the WBC Program to increase the maximum annual grant amount to each center and to relax administrative burdens on WBC grantees.

■ Related NWBC recommendation: 2023 Inclusive Entrepreneurial Ecosystems Focus Area 2, Recommendation 2: Congress and SBA should strengthen and modernize the WBC program by significantly increasing funding and streamlining reporting.

Supporting Rural and Underserved Communities

• H.R. 766, Promoting Access to Capital in Underbanked Communities Act

○ The House Committee reported this measure out in May 2024. The bill would relax federal regulations of new financial institutions serving rural communities in the hope of making more resources available to small lenders in underserved places.

■ Related NWBC recommendation: 2022 Access to Capital Focus Area 1, Recommendation 1: Policymakers should increase resources and funding for organizations offering small-dollar grants of up to $50,000.

• H.R. 5265, SBA Rural Performance Report Act

○ The House enacted this bill in January 2024. The measure would obligate SBA to report on the activities of its Office of Rural Affairs and promote the availability of financial assistance for small businesses in rural areas.

■ Related NWBC recommendation: 2022 Rural Women's Entrepreneurship Section, under "Enhance Federal Support and Coordinated, Accessible Resources for Rural Women Entrepreneurs." Recommendation 1: The White House should continue its collaborative work with the U.S. Department of Agriculture (USDA) on funding.

Addressing Certification and Succession Planning

• H.R. 6773, Financial Services and General Government Appropriations Act (FY25)

○ The House Committee reported the bill out in June 2024. It includes an expression of concern regarding the backlog of applications for WOSB certification, and in report language, would require that requests are processed expeditiously.

■ Related NWBC recommendation: 2021 Access to Capital and Opportunity Focus Area 4, Policy Recommendation 2: SBA should streamline the turnaround time by maintaining a reasonable processing time for WOSB certifications.
■ Related NWBC recommendation: 2022 Access to Capital and Opportunity Section, under "Continue to Strengthen and Work Toward Parity for the WOSB/EDWOSC Federal Contracting Program," Recommendation 2: SBA should streamline and expedite the WOSB certification process.

• H.R. 5939, Small Business Succession Planning Act

○ The bill was reintroduced in the House in October 2023. It would require the Administrator of SBA to develop and implement a plan to help small business create succession plans and achieve other related goals.

■ Related NWBC recommendation: 2021 Rural Women's Entrepreneurship Focus Area 3, Policy Recommendation 1: Congress should pass the Small Business Succession Planning Act.

Enhancing Entrepreneurial Development

• H.R. 6002, 21st Century Entrepreneurship Act

○ The bill was reintroduced in the House in October 2023. It would require the Administrator of SBA to promote entrepreneurship through afterschool programs.

■ Related NWBC recommendation: 2023 Women in STEM Focus Area 1, Recommendation 2: Congress should pass the 21st Century Entrepreneurship Act.

• H.R. 6457, Minority Entrepreneurship Grant Program Act

○ Members reintroduced the bill in the House in November 2023. It would require SBA to provide grants to create or expand programs at minority-serving institutions that support and enhance opportunities for minority entrepreneurship and business ownership. Additionally, it would mandate establishment of a Minority Entrepreneurship Advisory Council to provide recommendations on improving opportunities for minority businesses and entrepreneurs.

■ Related NWBC recommendation: 2022 Access to Capital and Opportunity Focus Area 3, Policy Recommendation 1: The Council supports the Minority Entrepreneurship Advisory Program Act.

Improving SBA Services and Funding

• S. 1744, SCORE for Small Business Act

○ The Senate Committee held a hearing in November 2023. It would strengthen SCORE business mentoring programs and require the association, in cooperation with SBA, to develop virtual and remote programming to reach historically underserved communities.

■ Related NWBC recommendation: 2022 Women in STEM Section, under "The STEM Pipeline," Recommendation 3: SCORE should bolster online services.