S. 2535 — what changed
Enhancing Entrepreneurship for the 21st Century Act
From Introduced in Senate to Reported in Senate. 1 section amended between Introduced in Senate and Reported in Senate.
Sec. 4 Assessment and analysis
Assessment and analysis required— Not later than 2 years after the date of enactment of this Act, the Secretary, in consultation with the Director of the Bureau of the Census and the Director of the Bureau of Economic Analysis of the Department of Commerce, shall conduct an assessment and analysis regarding the reasons for the state of the formation of new United States businesses during a period—
that the Secretary determines appropriate based on the data described in subsection (b)(1)(A); and
ending on the date on which the assessment and analysis is conducted.
Considerations and consultation—
In general— In conducting the assessment and analysis required under subsection (a), the Secretary shall—
notwithstanding any other provision of Federal law, and subject to paragraph (2), review data collected and maintained by—
the Bureau of the Census;
the Bureau of Economic Analysis;
the Bureau of Labor Statistics;
the Small Business Administration;
the Department of the Treasury;
the Board of Governors of the Federal Reserve System; and
any other Federal or State agency, or public or private sector organization, that the Secretary determines appropriate;
with respect to the formation of new United States businesses, consider the impact of—
demographic changes caused by an aging workforce and slowing population growth;
increased industry concentration and whether such concentration may make it more difficult for new market entrants to compete with established companies;
increased risk-aversion following the financial crisis and recession that occurred in 2008 and 2009 and deterioration of household balance sheets;
difficulties relating to access to capital, particularly difficulties encountered by underserved populations, women, and members of minority groups;
the concentration of venture capital in only a few cities;
record levels of student debt;
inefficiencies or other difficulties relating to the commercialization of federally funded research and innovation;
added
the utilization of federally funded research and innovation in the commercial market;
renumbered
was (3)(2)(4)(9)
regulatory burden, overlap, complexity, and uncertainty at the Federal and State levels;
renumbered
was (3)(2)(4)(10)
aspects of the Internal Revenue Code of 1986 that penalize, obstruct, or otherwise disadvantage new businesses, or investors in new businesses, relative to incumbent businesses, or investors in incumbent businesses, respectively;
renumbered
was (3)(2)(4)(11)
foreign-born entrepreneurs and the impact of those entrepreneurs on job creation; and
renumbered
was (3)(2)(4)(12)
any other factor that the Secretary determines appropriate; and
consult with—
the heads of any agencies and offices of the Federal Government that the Secretary determines appropriate, including—
the Secretary of the Treasury;
the Secretary of Labor;
the Administrator of the Small Business Administration;
the Chief Counsel of the Office of Advocacy of the Small Business Administration; and
the Board of Governors of the Federal Reserve System;
entrepreneurs, including entrepreneurs who are women or members of minority groups, especially those entrepreneurs who founded United States businesses that experienced rapid growth; and
representatives from consumer, community, and entrepreneurship advocacy organizations.
Confidentiality— With respect to data reviewed by the Secretary under paragraph (1)(A), the Secretary shall ensure that the data is subject to the same confidentiality requirements and protections as the confidentiality requirements and protections of the agency or entity, as applicable, providing the data.
Report— The Secretary shall submit to the appropriate committees of Congress a report regarding the findings of the Secretary with respect to the assessment and analysis conducted under subsection (a).