A bipartisan bill cosponsored on May 12 by U.S. Sen. Jerry Moran (R-KS) would require the administrator of the Small Business Administration (SBA) to provide awards recognizing state and local governments that improve the process for forming a new business.
“Every business counts — to the community and to the state,” Sen. Moran said last week. “Celebrating cities and states that implement innovative solutions to cut red tape, reduce bureaucracy and make it easier for entrepreneurs to build successful businesses will encourage communities to enact policies that promote economic growth.”
Sen. Moran signed on as the lead original cosponsor of the Supporting New Entrepreneurs and Workers By Undoing and Streamlining Inhibitors to Nascent Enterprises through Supporting Successful Efficiency Solutions Act, S. 4206, also known as the Supporting NEW BUSINESSES Act, alongside bill sponsor U.S. Sen. Catherine Cortez Masto (D-NV).
If enacted, S. 4206 would task the SBA with recognizing communities across the country that are making it easier for small businesses to get off the ground via federal awards that would allow communities to market themselves as award-winning, business-friendly areas, in turn, helping them attract additional capital and business opportunities, according to a bill summary provided by Sen. Moran’s staff.
The legislation would require the SBA to annually make three awards to recognize state and local governments that implement innovative and effective policies or tools to streamline processes related to the formation of small business concerns in their communities, the text of the bill states.
One award would be provided to a state or local government that represents a community of not less than 400,000 individuals; one award would be given to a state or local government representing a community of not less than 100,000 and less than 400,000 individuals; and one award would be made to a state or local government that represents a community of less than 100,000 individuals, according to the text of the bill.
“Nevada’s small businesses shouldn’t be burdened by excess red tape when trying to get their businesses off the ground, and my bipartisan legislation will encourage cities and states across the country to make it easier to start and grow a new business,” said Sen. Cortez Masto.
The bill has been referred to the U.S. Senate Small Business and Entrepreneurship Committee for consideration.