§9561 Grants to Nonprofit Organizations That Support Minority Business Enterprises

Summary

Makes grants to eligible private nonprofit groups that mainly help minority-owned businesses through training, grants, loans, or similar services. Eligible groups are those in certain IRS tax-exempt categories (501(c)(3), (c)(4), (c)(5), or (c)(6)) and whose main work is helping minority business enterprises. The grants are for helping those groups keep supporting the development, growth, or retention of minority-owned businesses. The Under Secretary must pick an office to run the grants no later than 180 days after November 15, 2021, and that office must have enough staff. Groups apply when and how the Under Secretary says. Priority goes to groups in federally recognized areas of economic distress. The Under Secretary must set rules to prevent waste, fraud, and abuse and to make sure grants go to a mix of groups, including national and community-based organizations, groups with budgets under $1,000,000, and groups serving low-income or rural areas. Within 180 days after grant-making begins, the Department of Commerce Inspector General must audit the grants and send a report to Congress. Also, within 90 days after the office is chosen, and every 30 days after that, the Under Secretary must report to Congress how many grants were made and where, plus, if available, demographic and industry information about the minority businesses helped.