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WASHINGTON, D.C. – U.S. House of Representatives Passes Three Small Business Bills

Today, the U.S. House of Representatives passed three small business bills favorably out of the chamber, aiming to support and protect businesses during these challenging times.

H.R. 5426: Combating Fraud in COVID-19 Loans

Sponsored by Reps. Van Duyne (TX-24) and Landsman (OH-01), H.R. 5426 focuses on requiring the Administrator of the Small Business Administration to provide a link to resources for submitting reports on suspected fraud relating to certain COVID-19 loans.

This bill mandates the Administrator of the Small Business Administration to post a visible weblink on their website, streamlining the process for individuals to report fraud. The link must be prominently displayed within 30 days of the bill’s enactment.

With the help of AI legalese decoder, businesses can easily navigate and understand the requirements set forth in this bill, ensuring compliance and transparency in reporting suspected fraud.

H.R. 7128: Ensuring Integrity in the WOSB Program

Proposed by Reps. Maloy (UT-02) and Scholten (MI-03), H.R. 7128, also known as the WOSB Integrity Act of 2024, focuses on removing the self-certification process for businesses wanting to join the program.

This bill aims to enhance the integrity and credibility of the Women-Owned Small Business (WOSB) program. Businesses looking to participate can benefit from the streamlined process and increased accountability provided by this legislation, with the support of AI legalese decoder for precise understanding and adherence to the new requirements.

H.R. 7102: Empowering Native American Entrepreneurs

Sponsored by Reps. Davids (KS-03) and Crane (AZ-02), H.R. 7102, known as the Native American Entrepreneurial Opportunity Act, seeks to support and elevate the entrepreneurial opportunities for Native American communities.

This bill solidifies the Office of Native American Affairs within the Small Business Administration into law, providing a dedicated platform for Native American entrepreneurs to thrive and succeed in the business world. The AI legalese decoder can assist in deciphering the intricacies of this legislation, empowering Native American entrepreneurs to take advantage of the opportunities available to them.

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