21st Century Entrepreneurship Act
- Bill Number
- S. 4133
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Commerce
- Status
- Introduced
- Latest Action
- 2026-03-18: Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Last Updated
- 2026-04-02T19:01:05Z
AI-Generated Summary
Purpose
The 21st Century Entrepreneurship Act aims to boost entrepreneurship and innovation among disadvantaged youth by requiring the Small Business Administration (SBA) to promote training programs in after-school settings. It focuses on using volunteer mentors to teach skills in starting businesses and creating new products or services, with the goal of addressing declining entrepreneurship rates, supporting economic growth, and helping underrepresented communities.
Key Provisions
- Curriculum Development: The SBA must create educational materials for SCORE (Service Corps of Retired Executives) volunteers to teach entrepreneurship (starting and running a business) and inventorship (creating new products or services) to specific groups of students, including females, minorities, English language learners, children with disabilities, rural students, and low-income students.
- Partnership Strategy: The SBA must develop and implement plans to connect SCORE volunteers with community learning centers (after-school programs in schools or community facilities) to deliver this training.
- Collaborations: In creating the curriculum, the SBA must work with education experts, business organizations, and groups experienced in serving underrepresented children. SCORE volunteers are encouraged to partner with other SBA programs, such as small business development centers and women's business centers, as well as the Minority Business Development Agency and the SBA's Growth Accelerator Fund.
- Reporting Requirements: The SBA must submit reports to Congress every two years (starting one year after enactment) detailing partnerships, fund usage, training provided, number of students reached, barriers encountered, and plans for improvements.
- Funding: Authorizes $2.5 million annually from fiscal year 2026 through 2030 for implementation, with flexibility to transfer funds to the SCORE program.
Significant Changes to Existing Law
- Amendments to the Small Business Act: Expands the role of the SCORE program to include delivering entrepreneurship and inventorship training as outlined in this act.
- Amendments to the Elementary and Secondary Education Act (ESEA): Adds entrepreneurship and inventorship programs to the list of allowable activities in community learning centers, including them as a priority for funding and operations. This integrates business education into existing after-school frameworks.
Potential Impacts
- On Government Agencies: The SBA gains new responsibilities for curriculum design, partnerships, and reporting, supported by dedicated funding. This may increase coordination with the Department of Education (via ESEA) and the Department of Commerce (via the Minority Business Development Agency), potentially straining resources if funding is not fully appropriated.
- On Citizens: Underrepresented youth in targeted groups could gain access to mentorship and skills training, potentially leading to higher entrepreneurship rates, job creation, and economic mobility in disadvantaged communities. Broader economic benefits include increased productivity and innovation.
- On International Relations: No direct impacts, as the bill focuses on domestic education and small business support.
Main Stakeholders Affected
- Students and Communities: Primarily female, minority, low-income, rural, disabled, and English learner youth in community learning centers, who stand to benefit from new educational opportunities.
- SBA and SCORE Volunteers: SBA staff and retired executives in the SCORE program will handle new training and partnership duties.
- Educational and Business Organizations: Community learning centers, small business development centers, women's business centers, and entrepreneurship groups will be involved in collaborations and program delivery.
- Congress and Oversight Committees: The Senate Committee on Small Business and Entrepreneurship and the House Committee on Small Business will receive reports and monitor implementation.
Notable Legal, Constitutional, or Political Implications
- Legal: The bill builds on existing SBA and ESEA frameworks without creating new regulatory burdens, but it mandates specific actions and reporting, which could lead to accountability challenges if partnerships underperform. Funding authorization does not guarantee appropriation, leaving implementation dependent on congressional budgets.
- Constitutional: Aligns with Congress's powers to promote commerce and general welfare (Article I, Section 8), emphasizing education equity without infringing on state or individual rights.
- Political: Bipartisan introduction (by Senators Cortez Masto and Blackburn) signals broad support for youth economic empowerment. It highlights equity for disadvantaged groups, potentially influencing future education and small business policies, but success depends on volunteer engagement and sustained funding.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Sen. Cortez Masto, Catherine [D-NV]
Cosponsors (1)
Recent Actions
- 2026-03-18: Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2026-03-18: Introduced in Senate
Bill Versions
- 21st Century Entrepreneurship Act — issued 2026-03-18 — PDF (7 pages)