Establishes the Small Business Growth and Empowerment Fund to support minority-owned and women-owned businesses in underserved areas.
The Small Business Growth and Empowerment Act establishes a fund to support economic development for minority-owned and women-owned businesses in underserved areas. The fund, composed of appropriated funds and donations, can be used for activities such as site development, infrastructure, tourism, and training. Grants from the fund must be spent in all three grand divisions of the state and can be made to local governments, political subdivisions, state government subdivisions, or non-profit organizations.
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