Establishes a pilot program to provide advance funds to public benefit nonprofits with department grants.
The bill creates a pilot program allowing the Department of Commerce to advance funds to public benefit nonprofits that have received grants from the department. The advance funds are intended to support the performance of work required by the grant. Eligible nonprofits must have been awarded a department grant within six months, performed satisfactorily under any grant from the department in the preceding 10 years, and been in business for at least three years.
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