40 U.S.C. § 14505 — Entrepreneurship initiative
submitted 24 years ago by Pub. L. 107-217 to r/title-40-PUBLIC-BUILDINGS-PROPERTY-AND-WORKS · 404 words · no verdicts yet
The Appalachian Regional Commission can fund entrepreneurship projects across the region. It can pay for business-incubator services like legal help, patents, tech access, and strategy consulting. It also funds entrepreneur training, access to capital, development strategies, and business-incubator networks. Funding is capped at 50 percent of cost, rising to 80 percent in distressed counties.
(a) Business Incubator Service. Defined here as a professional or technical service that helps a newly started business get going and stay running, such as: (1) legal help, including drafting a corporate charter, partnership agreement, or basic contract; (2) help protecting intellectual property through patents, trademarks, or other means; (3) help acquiring and using advanced technology, including internet and web-based services; and (4) consultation on strategic planning, marketing, or advertising.
(b) Projects To Be Assisted. The Commission may give technical assistance, grants, contracts, or other funding to people or organizations in the region for projects that: (1) support entrepreneurial training and education for youths, students, and businesspeople; (2) improve access to debt and equity capital, such as by helping set up development venture-capital funds; (3) help communities identify, develop, and carry out development strategies for parts of their economy; (4) build a working network of business incubators; and (5) support organizations that provide business-incubator services.
(c) Limitation on Available Amounts. Funding for a qualifying activity is capped at: (1) 50 percent of cost normally; (2) 80 percent in a county with a "distressed" designation under section 14526; or (3) 70 percent in a county with an "at-risk" designation under section 14526.
(d) Sources of Assistance. This funding can stand alone, combine with other federal programs, or combine with money from any other source.
(e) Federal Share. Even if another federal law caps the federal share of a project's cost, this section's money can be used to raise that share as much as the Commission decides is appropriate.
In this section, the term “business incubator service” means a professional or technical service necessary for the initiation and initial sustainment of the operations of a newly established business, including a service such as—
a legal service, including aid in preparing a corporate charter, partnership agreement, or basic contract;
a service in support of the protection of intellectual property through a patent, a trademark, or any other means;
a service in support of the acquisition and use of advanced technology, including the use of Internet services and Web-based services; and
consultation on strategic planning, marketing, or advertising.
The Appalachian Regional Commission may provide technical assistance, make grants, enter into contracts, or otherwise provide amounts to persons or entities in the region for projects—
to support the advancement of, and provide, entrepreneurial training and education for youths, students, and businesspersons;
to improve access to debt and equity capital by such means as facilitating the establishment of development venture capital funds;
to aid communities in identifying, developing, and implementing development strategies for various sectors of the economy;
to develop a working network of business incubators; and
to support entities that provide business incubator services.
Of the cost of any activity eligible for a grant under this section, not more than—
50 percent may be provided from amounts appropriated to carry out this section;
in the case of a project to be carried out in a county for which a distressed county designation is in effect under section 14526, 80 percent may be provided from amounts appropriated to carry out this section; or
in the case of a project to be carried out in a county for which an at-risk county designation is in effect under section 14526, 70 percent may be provided from amounts appropriated to carry out this section.
Assistance under this section may be provided entirely from amounts made available to carry out this section, in combination with amounts made available under other federal programs, or from any other source.
Notwithstanding any provision of law limiting the federal share under any other federal program, amounts made available to carry out this section may be used to increase that federal share, as the Commission decides is appropriate.
Source credit: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1271; Pub. L. 110–371, § 2(e), Oct. 8, 2008, 122 Stat. 4039.)
- 2002Enacted · Pub. L. 107-217 · 116 Stat. 1271
- 2008Amended · Pub. L. 110-371 · 122 Stat. 4039
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-217 on 2002-08-21.
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