# 116-hr-6348: To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.

116-hr-6348, To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes., is a 116th Congress bill sponsored by Rep. Garcia, Sylvia R. [D-TX-29] (D-TX); status 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-6348
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-6348
- Congress: 116
- Title: To fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, and for other purposes.
- Status: 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.
- Introduced: 2020-03-23
- Sponsor: Rep. Garcia, Sylvia R. [D-TX-29] (D-TX)
- Cosponsors: 1
- Policy area: Commerce
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

This bill requires the Minority Business Development Agency to award a grant to fully implement the Initiative to Build Growth Equity Funds for Minority Businesses, which provides equity capital to invest in minority- and women-owned businesses. Interest earned on grant funds deposited into an interest-bearing account may be obligated and expended to carry out the grant's purposes. The Government Accountability Office shall carry out a biennial audit of the initiative and issue a report to Congress and the Minority Business Development Agency.

## Cosponsors (1)

- Rep. Waters, Maxine [D-CA-43] (D-CA), 2020-05-08T00:00:00.000Z

## Related bills

- 116-hr-8160: Promoting Diversity and Inclusion in Banking Act of 2020
- 116-hr-8113: Puerto Rico Self-Determination Act of 2020
- 116-hr-8015: Delivering for America Act
- 116-hr-7993: Promoting and Advancing Communities of Color through Inclusive Lending Act
- 116-hr-7946: Federal Reserve Racial and Economic Equity Act
- 116-hr-7517: Protect Access to Birth Control Act

## Sources
- [116-hr-6348 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/6348)

## Related
- [116-hr-8160: Promoting Diversity and Inclusion in Banking Act of 2020](https://policyrisk.com/legislation/116-hr-8160)
- [116-hr-8113: Puerto Rico Self-Determination Act of 2020](https://policyrisk.com/legislation/116-hr-8113)
- [116-hr-8015: Delivering for America Act](https://policyrisk.com/legislation/116-hr-8015)
- [116-hr-7993: Promoting and Advancing Communities of Color through Inclusive Lending Act](https://policyrisk.com/legislation/116-hr-7993)
- [116-hr-7946: Federal Reserve Racial and Economic Equity Act](https://policyrisk.com/legislation/116-hr-7946)
- [116-hr-7517: Protect Access to Birth Control Act](https://policyrisk.com/legislation/116-hr-7517)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-6348 (as of 2025-11-18).