15 U.S.C. § 6905 — Allocation of assistance; subgrants
submitted 27 years ago by Pub. L. 103-325 to r/title-15-COMMERCE-AND-TRADE · 300 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The Administrator* shall allocate assistance from the Administration* under this chapter to ensure that—
activities described in section 6903(1) of this title are funded using not less than 75 percent of amounts made available for such assistance; and
activities described in section 6903(2) of this title are funded using not less than 15 percent of amounts made available for such assistance.
No single person may receive more than 10 percent of the total funds appropriated under this chapter in a single fiscal year.
The Administrator shall ensure that not less than 50 percent of the grants made under this chapter are used to benefit very low-income persons, including those residing on Indian reservations.
A qualified organization receiving assistance under this chapter may provide grants using that assistance to qualified small and emerging microenterprise* organizations and programs, subject to such rules and regulations as the Administrator determines to be appropriate.
Not more than 7.5 percent of assistance received by a qualified organization under this chapter may be used for administrative expenses in connection with the making of subgrants under paragraph (1).
In making grants under this chapter, the Administrator shall ensure that grant recipients include both large and small microenterprise organizations, serving urban, rural, and Indian tribal communities serving diverse populations.
In making grants under this chapter, the Administrator shall ensure that any application made by a qualified organization that is a participant in the program established under section 636(m) of this title does not receive preferential consideration over applications from other qualified organizations that are not participants in such program.
Source credit: (Pub. L. 103–325, title I, § 176, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1473.)
- 1999Enacted · Pub. L. 103-325 · 113 Stat. 1473
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-325 on 1999-11-12.
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