Proposed
Bill · 119th Congress · HR 5826
IDEA Act of 2025
Refreshed 3 h ago
Introduced 2025-10-24Topic: economy jobs · civil rights · budgetSummary
AI-generated summary, report an errorThis bill would require the Commerce Department's Under Secretary for Minority Business Development to create, within 180 days, a grant program for business accelerator organizations that help minority-owned businesses. Each grant would be $1,000,000 per year for five years, and federal funds could cover no more than 75 percent of the activities' cost. Grantees would use the money to give capital, including direct cash, and networking programs to minority businesses in regions with at least 15 such businesses earning $250,000 or more a year. Knowingly misusing grant funds would be a misdemeanor punishable by a fine, up to one year in prison, or both, and the bill authorizes $25,000,000 per year for fiscal years 2026 through 2030.
Sponsors
- Haley M. Stevens Democrat sponsor
- 1 cosponsors
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2025-10-24 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | refer |
| 2025-10-24 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | refer |
| 2025-10-24 | Introduced in House | introduce | |
| 2025-10-24 | Introduced in House | introduce |