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Small Business Export Support: Streamlining the STEP Program until 2028.

This Act reauthorizes and improves the State Trade Expansion Program (STEP), which assists small U.S. businesses in starting or increasing exports. Small business owners can expect clearer application rules, faster grant announcement deadlines, and better support for budget planning. The changes aim to increase the participation of firms owned by women, minorities, and rural businesses in exporting, potentially leading to local job growth.
Key points
STEP Program Reauthorization: Funding for the small business export support program is authorized for fiscal years 2024 through 2028.
Increased Grant Transparency: Fixed deadlines are established for publishing application information (by March 31), submitting applications (by May 31), and announcing grant recipients (by August 31).
Improved Applicant Feedback: Unsuccessful applicants will receive recommendations to improve future submissions, and successful recipients will get an explanation for the awarded amount.
Flexible Budget Management: States receiving grants can revise their budget plans more easily, provided they notify the administrator, unless the revision exceeds 10%—which requires prompt approval.
Focus on Diversity: The program mandates collecting and reporting data on the participation of small businesses owned by women, socially and economically disadvantaged individuals, and rural concerns.
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Additional Information
Print number: 118_S_77
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2023-01-25
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OFFICIAL LEGAL TITLE

STEP Improvement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_77.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-01-25.

What are the main provisions?

Key points include:

  • STEP Program Reauthorization: Funding for the small business export support program is authorized for fiscal years 2024 through 2028.
  • Increased Grant Transparency: Fixed deadlines are established for publishing application information (by March 31), submitting applications (by May 31), and announcing grant recipients (by August 31).
  • Improved Applicant Feedback: Unsuccessful applicants will receive recommendations to improve future submissions, and successful recipients will get an explanation for the awarded amount.
  • Flexible Budget Management: States receiving grants can revise their budget plans more easily, provided they notify the administrator, unless the revision exceeds 10%—which requires prompt approval.
  • Focus on Diversity: The program mandates collecting and reporting data on the participation of small businesses owned by women, socially and economically disadvantaged individuals, and rural concerns.
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 Sen. Shaheen, Jeanne [D-NH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy