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H.R. 6021, Northern Mariana Islands Small Business Development Act (CBO Report for Congress)

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Congress 116th
Date Requested March 11, 2020
Requested By House Committee on Small Business
Date Sent June 10, 2020
Description:
H.R. 6021 would authorize entities in the Commonwealth of the Northern Mariana Islands (CNMI) to apply for funding through the Small Business Administration’s (SBA’s) Small Business Development Center Program and Federal and State Technology Partnership Program. Under current law, entities based in the CNMI may not apply for such funding. In 2020, the SBA allocated $149 million for the grant programs. Based on minimum funding allocations for territories under current law, CBO estimates that allowing entities in the CNMI to apply for grants would cost the SBA $4 million over the 2020-2025 period; any spending would be subject to the availability of appropriated funds. The costs of the legislation, detailed in Table 1, fall within budget function 370 (commerce and housing credit).

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