§14505 — Title 40 Public Buildings, Property, and Works | U.S. Code

Summary

The Appalachian Regional Commission can give technical help, grants, contracts, or other funding to people and groups in the region to grow entrepreneurship. It can pay for projects that teach and train young people and business owners, help start or expand access to loans and venture capital, help communities plan economic development, build a network of business incubators, and support organizations that run incubators. Business incubator service — professional help new businesses need, such as legal aid (charters or contracts), help protecting inventions or trademarks, help using advanced technology and the Internet, and advice on planning, marketing, or advertising. For any eligible project, the Commission’s money can pay up to 50% of the cost, except up to 80% for projects in counties designated as distressed under section 14526 and up to 70% for counties designated as at-risk under section 14526. Funding can come from these Commission amounts alone, combined with other federal programs, or from other sources. The Commission can also use its money to raise the federal share beyond limits in other programs when it thinks that is appropriate.

Title 40, §14505

Public Buildings, Property, and Works — Source: USLM XML via OLRC

(a)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—

(1)a legal service, including aid in preparing a corporate charter, partnership agreement, or basic contract;

(2)a service in support of the protection of intellectual property through a patent, a trademark, or any other means;

(3)a service in support of the acquisition and use of advanced technology, including the use of Internet services and Web-based services; and

(4)consultation on strategic planning, marketing, or advertising.

(b)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—

(1)to support the advancement of, and provide, entrepreneurial training and education for youths, students, and businesspersons;

(2)to improve access to debt and equity capital by such means as facilitating the establishment of development venture capital funds;

(3)to aid communities in identifying, developing, and implementing development strategies for various sectors of the economy;

(4)to develop a working network of business incubators; and

(5)to support entities that provide business incubator services.

(c)Of the cost of any activity eligible for a grant under this section, not more than—

(1)50 percent may be provided from amounts appropriated to carry out this section;

(2)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

(3)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.

(d)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.

(e)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.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 14505(a)40 App.:204(a).Pub. L. 89–4, title II, § 204, as added Pub. L. 107–149, § 6, Mar. 12, 2002, 116 Stat. 68. 14505(b)40 App.:204(b). 14505(c)40 App.:204(d). 14505(d)40 App.:204(c)(1). 14505(e)40 App.:204(c)(2).

Editorial Notes

Amendments

2008—Subsec. (c). Pub. L. 110–371 added subsec. (c) and struck out heading and text of former subsec. (c). Text read as follows: “Not more than 50 percent (or 80 percent 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 of this title) of the cost of any activity eligible for a grant under this section may be provided from amounts appropriated to carry out this section.”

§14505 Entrepreneurship Initiative