This bill changes rules in the Internal Revenue Code that govern State-run self-employment assistance programs. It removes a requirement that program participants be likely to run out of regular unemployment benefits. It updates what activities count for participation to include entrepreneurial training, business counseling, technical help, or activities done under a State‑approved business plan and market feasibility study. Participants must certify those activities at least weekly to an agency the State designates. The law also changes a numeric limit in the statute by replacing "5" with "10". The changes take effect two years after the law is enacted, but a State may change its rules earlier. The Secretary of Labor must issue regulations after public notice and comment and with Office of Management and Budget approval.
If this becomes law, unemployed people who want to start businesses could join State self-employment assistance programs that focus on training, counseling, or work done under an approved business plan. People in those programs would need to report and certify their work at least once a week to a State-designated agency. States may allow more people to join the program because the bill increases the statutory numeric limit from "5" to "10". The changes generally begin two years after enactment unless a State acts sooner.
No publicly available information on federal budget costs, savings, or estimated state administrative costs is included in the bill text or provided materials.
No publicly available information in the bill text or provided materials describes proponents' stated reasons or arguments.
No publicly available information in the bill text or provided materials describes opponents' stated reasons or arguments.