The bill, titled the "Native American Entrepreneurial Opportunity Act," seeks to establish the Office of Native American Affairs within the Small Business Administration. This office aims to support small business development for individuals who are members of Native American tribes and Native Hawaiian organizations. It will focus on entrepreneurial development, contracting, and capital access to promote economic growth within these communities. The Assistant Administrator for Native American Affairs will be responsible for formulating policies, providing assistance, and collaborating with other federal agencies to address the needs of Native American entrepreneurs. Additionally, the bill mandates annual reports to Congress on the office's effectiveness. The authority provided in the bill will terminate 7 years after its enactment.
Native American Entrepreneurial Opportunity Act
This bill provides statutory authority for the establishment of the Office of Native American Affairs within the Small Business Administration (SBA). The office must establish a working relationship with Indian tribes and Native Hawaiian organizations by targeting SBA programs relating to entrepreneurial development, contracting, and capital access to (1) establish or expand small businesses owned and controlled by individuals who are members of Indian tribes or Native Hawaiian organizations, and (2) promote economic development in Indian country.