An amendment numbered 10 printed in Part B of House Report 111-317 to create youth entrepreneurship programs in the Small Business Administration to assist the development of new businesses by young people who remain in their local area.

1. Adds SEC. 306. YOUNG ENTREPRENEURS PROGRAM on page 131, line 4

   Adds a sectionPrinted page

   Inserted: SEC. 306. YOUNG ENTREPRENEURS PROGRAM.

   Inserted: Section 7(m)(4) of the Small Business Act (15 U.S.C. 636(m)(4)) is amended by adding at the end the following:

   Inserted: "(G) Young entrepreneurs program.--

   Inserted: "(i) In general.--An intermediary that receives a grant under paragraph (1)(B)(ii) may establish a program for the geographic area served by such intermediary that provides to young entrepreneurs technical assistance regarding the following:

   Inserted: "(I) Establishing or operating a small business concern in the geographic area served by the intermediary.

   Inserted: "(II) Acquiring or securing financing to carry out the activities described in subclause (I).

   Inserted: "(ii) Young entrepreneur defined.--For purposes of this subparagraph, a young entrepreneur is an individual who--

   Inserted: "(I) is 25 years of age or younger; and

   Inserted: "(II) has resided in the geographic area served by the intermediary for not less than 2 years.

   Inserted: "(iii) Good faith effort requirement.--If a young entrepreneur who receives technical assistance under this subparagraph from an intermediary establishes or operates a small business concern, the young entrepreneur shall make a good faith effort to establish or operate such concern in the geographic area served by the intermediary.

   Inserted: "(iv) Deferred repayment.--If a small business concern established or operated by a young entrepreneur receives a loan under this subsection, such concern may defer repayment on such loan for a period of not more than 6 months beginning on the date that such concern receives the final disbursement of such loan.".

   Original wording

   Page 131, after line 4, insert the following (and redesignate succeeding sections accordingly):

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As printed