To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Entrepreneurial Development Programs for fiscal year 2024.
Impact
The enactment of HB2144 would directly affect various programs aimed at supporting small businesses and entrepreneurial initiatives. By capping the available funds, the bill could limit the reach and effectiveness of programs designed to assist startups and small enterprises, potentially stifling growth in vital sectors of the economy. This limitation could lead to a reduced capacity for the Small Business Administration to offer necessary guidance, training, and financial support, which many rely upon for launching and sustaining their businesses.
Summary
House Bill 2144 seeks to impose a limitation on the funding available for certain independent agencies, specifically targeting the Small Business Administration and its Entrepreneurial Development Programs for the fiscal year 2024. The bill stipulates that no more than $247.7 million should be allocated to these entities, which is a significant measure aimed at controlling government expenditure and prioritizing fiscal responsibility. The intent is to ensure that funds are used judiciously, which proponents argue is essential in fostering a more sustainable financial environment.
Contention
While supporters argue that the bill promotes fiscal discipline, critics raise concerns about the negative ramifications of such funding restrictions. They argue that the limitation may hinder crucial support functions that are vital for the entrepreneurial ecosystem, particularly during times of economic uncertainty. There is a strong belief among opponents that investing in small businesses is essential for economic recovery and growth, thus questioning the wisdom of constraining access to resources that could stimulate innovation and overall economic vitality.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Business Loans Program Account for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Disaster Loan Program for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Salaries and Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Office of Inspector General for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Loan Modernization and Accounting System for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration,, Business Loans Program Account, Administrative Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, National Credit Union Administration, Community Development Revolving Loan Fund for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, General Services Administration, Operating Expenses for fiscal year 2024.