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Support for Minority-Owned Businesses: Grants and Development

This act establishes a grant program for organizations that support the growth of minority-owned businesses. The goal is to provide them with access to capital and development opportunities, potentially impacting local economies and jobs.
Key points
Grant program for organizations assisting minority-owned businesses.
Grants of $1 million annually for 5 years for selected organizations.
Funds can be used for direct financial support, business networking, and other assistance.
Support targeted at minority-owned businesses meeting specific revenue criteria.
Organizations receiving grants will be required to report on fund usage.
Misuse of grant funds will be subject to fines or imprisonment.
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Status:
Expired
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Additional Information
IDEA Act of 2021
Print number: HR 5006
Sponsor: Rep. Stevens, Haley M. [D-MI-11]
Process start date: 2021-08-10
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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Summary & Status

Key Questions about Support for Minority-Owned Businesses: Grants and Development

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 5006.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-08-10.

What are the main provisions?

Key points include:

  • Grant program for organizations assisting minority-owned businesses.
  • Grants of $1 million annually for 5 years for selected organizations.
  • Funds can be used for direct financial support, business networking, and other assistance.
  • Support targeted at minority-owned businesses meeting specific revenue criteria.
  • Organizations receiving grants will be required to report on fund usage.
  • Misuse of grant funds will be subject to fines or imprisonment.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Stevens, Haley M. [D-MI-11].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

Analysis and Potential Impact of HR 5006

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy