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HR5826119th CongressWALLET

IDEA Act of 2025

Sponsored By: Representative Stevens, Haley M. [D-MI-11]

Introduced

Summary

Creates federal grants to business accelerators to expand entrepreneurship for minority business enterprises. Grants are $1,000,000 per award each year for five years and the federal share may not exceed 75 percent of an accelerator's funding.

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  • Minority business enterprises (MBEs): Gives MBEs access to capital, including direct cash transfers, plus networking programs and other assistance through local accelerators.
  • Business accelerator entities: Eligible accelerators must partner with organizations that support MBEs and operate in a region with at least 15 MBEs, each with at least $250,000 in annual revenue. Grants run for five years and are $1,000,000 per year.
  • Federal oversight and accountability: The Under Secretary of Commerce for Minority Business Development must report annually to Congress on grants, MBEs assisted, and any noncompliance. Knowing misuse of funds can result in fines or up to 1 year in prison under Title 18.

*Authorizes $25.0 million in appropriations each fiscal year from 2026 through 2030 to carry out the program.*

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Five-year grants for minority business accelerators

If enacted, the Commerce Department’s MBDA would start a grant program within 180 days for accelerators that help minority-owned businesses. Each award would pay $1 million per year for five years. The grant could cover up to 75% of program costs; the accelerator would provide the rest. Congress would authorize $25 million per year in FY2026–FY2030 for this program. Funds could provide cash to MBEs, run networking, and other approved help in regions with at least 15 MBEs earning $250,000+ each.

New rules and penalties for accelerators

If enacted, accelerators would need to apply with the information the MBDA Under Secretary requires. The Under Secretary would report to Congress each year on grants awarded, dollars used, MBEs helped, and any noncompliance. An accelerator that knowingly misuses grant money could face a federal fine or up to one year in jail.

Sponsors & CoSponsors

Sponsor

Stevens, Haley M. [D-MI-11]

MI • D

Cosponsors

  • Rep. Beatty, Joyce [D-OH-3]

    OH • D

    Sponsored 10/24/2025

Roll Call Votes

No roll call votes available for this bill.

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