H.R. 7396: Native American Entrepreneurial Opportunity Act

This bill, known as the Native American Entrepreneurial Opportunity Act, proposes the establishment of an Office of Native American Affairs within the Small Business Administration (SBA). The primary objective of this office is to foster a supportive environment for entrepreneurship within Native American communities. Below are the key components of the bill:

Establishment of the Office

The bill mandates the creation of the Office of Native American Affairs within the SBA. This office will focus on building relations with Indian Tribes and Native Hawaiian Organizations to promote small business development and economic growth.

Responsibilities and Functions

The Office of Native American Affairs will:

• Work to establish or expand small businesses owned by members of Indian Tribes or Native Hawaiian Organizations.
• Promote economic development in areas defined as "Indian country."
• Educate tribes and organizations about other federal programs that can assist with entrepreneurship, contracting, and capital access.

Leadership

The office will be headed by an Assistant Administrator for Native American Affairs, who will be appointed by the SBA Administrator. The Assistant Administrator will:

• Have expertise in Native American cultures and experience in business development.
• Provide tailored assistance to tribes, organizations, and business owners.
• Engage in policy formulation to address the needs of Native American entrepreneurs.
• Collaborate with other federal agencies to implement supportive programs.
• Distribute financial assistance through grants and contracts to organizations capable of delivering training, resources, and support for small business activities.
• Conduct consultations with Tribal communities to gather input on program effectiveness and needs.
• Recommend budgets for the office’s operations.

Accountability and Reporting

The Assistant Administrator will be required to submit annual reports to Congress. These reports will detail the office's effectiveness, including:

• The number of clients served in Tribal communities.
• The number of consultations conducted with tribes.
• The number of training sessions held in Tribal areas.

Duration of Authority

The authority given to this office is set to expire seven years after its establishment, unless extensions or modifications are made at that time.

Relevant Companies

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