SOAR Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Sep 17, 2014)
Startup Opportunity Accelerator Act of 2014 or the SOAR Act - Amends the Small Business Act to require the Administrator of the Small Business Administration (SBA) to develop a program to award cash prizes of up to $50,000 to organizations in the United States whose primary purpose is to support new small businesses that have been in operation for five years or less.
Authorizes the use of a prize for construction costs, space acquisition, and programmatic purposes. Prohibits its use for capital or professional services to new small businesses.
Requires a prize recipient to provide assistance to at least 10 new small businesses per year.
What just happenedSep 17, 2014
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateSep 17, 2014
- Sep 17, 2014IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Sep 17, 2014IntroReferralB00100
Sponsor introductory remarks on measure. (CR S5700-5701)
- Sep 17, 2014IntroReferral10000
Introduced in Senate