Summary of HR 8404 — 21st Century Entrepreneurship Act

Purpose and Intent

HR 8404, introduced in the 119th Congress, seeks to expand entrepreneurship education for disadvantaged youth by enabling participants in the SCORE program (Service Corps of Retired Executives) to teach entrepreneurship at community learning centers. The bill aims to leverage experienced volunteer mentors to foster entrepreneurship, pathways to innovation, and economic growth in underserved communities.

Key finding underpinning the bill:
- Entrepreneurship drives job creation, productivity, and quality of life.
- Entrepreneurship rates have been unstable, with disadvantaged youth less likely to become entrepreneurs.
- Mentorship in entrepreneurship and inventorship increases the likelihood that youth pursue these fields in adulthood.
- The SCORE program volunteers would be encouraged to engage with community learning centers to promote growth in disadvantaged communities.

Main Provisions

Definitions

• Community Learning Center: As defined in ESEA section 4201(b).
• SCORE Program: The Service Corps of Retired Executives (SBA-supported volunteers).

Entrepreneurship Education for Disadvantaged Youth

• The Administrator of the SBA, in consultation with SCORE, must:
  • Develop a curriculum to enable SCORE volunteers to teach entrepreneurship at community learning centers.
  • Collaborate with education specialists, entrepreneurship groups, business groups, and organizations serving underrepresented children to design the curriculum.
• The SBA Administrator, in consultation with the Secretary of Education, must develop and implement a strategy to deliver this curriculum through community learning centers.

Collaboration with Other Programs

• SCORE volunteers are encouraged to collaborate with:
  • Small Business Development Centers (SBDC)
  • Women's Business Centers
  • Centers overseen by the Minority Business Development Agency (MBDA)

SCORE Program Amendment

• The Small Business Act (title II, §8(b)(1)(B)) is amended to explicitly authorize SCORE to teach entrepreneurship to students through community learning centers.

Community Learning Centers (ESEA Title IV, Part B)

• The curriculum to be taught by SCORE volunteers is added to the list of permissible or integrated activities within community learning centers.
• Entrepreneurship education is explicitly included alongside existing programs (e.g., apprenticeship programs) in ESEA provisions.

Reporting Requirement

• Within 1 year of enactment and every 2 years thereafter, the SBA Administrator must report to Congress on:
  • Instances of curriculum use by SCORE and community learning centers.
  • Funding use and procurement/contract adherence related to this act.
  • Training/guidance provided to SCORE leadership on fund use.
  • Estimated number of students reached.
  • Barriers to expanding reach and plans to improve the curriculum or implementation.

Who Is Affected

• SCORE volunteers: Eligible to teach entrepreneurship at community learning centers.
• Disadvantaged youth served by community learning centers: Primary beneficiaries of entrepreneurship education.
• Small Business Administration and its partner programs (SBDC, Women’s Business Centers, MBDA): Potential collaborators in delivering the curriculum.
• Education community: Secretary of Education and related education entities involved in curriculum development and implementation.
• Funding and procurement processes: Subject to reporting and potential new compliance under the act.

Key Dates and Timeline

• Enactment would trigger immediate collaboration efforts to develop the curriculum and strategy.
• A formal report to Congress is required within 1 year of enactment and every 2 years thereafter.

Potential Impact

• Expands access to mentorship-driven entrepreneurship education for youths in underserved communities.
• Utilizes experienced business mentors to foster entrepreneurial skills and potential future business creation.
• Encourages interagency collaboration across SBA, education, and small business support networks.
• Increases accountability through structured reporting on curriculum use, reach, and implementation.