SB2896: Northern Mariana Islands Entrepreneurship Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Small Business Act to define the term "State" for the purposes of the microloan program carried out under that Act, and for other purposes.
Plain-language summary
This bill modifies the Small Business Act to include the Northern Mariana Islands in the federal microloan program, which provides small loans to entrepreneurs and small businesses. Currently, the microloan program only serves U.S. states, excluding U.S. territories like the Northern Mariana Islands. The bill would expand the definition of "State" in the Small Business Act to include this U.S. territory in the Pacific. This would allow small business owners in the Northern Mariana Islands to access federal microloan funding for starting or growing their businesses. The bill was introduced in Congress and is currently awaiting review.
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SB2896: Northern Mariana Islands Entrepreneurship Act of 2023