The New Start Act establishes a federal grant program administered by the Small Business Administration to fund entrepreneurial training and business development programs for currently and formerly incarcerated individuals. Grants will be awarded to organizations such as small business development centers, women's business centers, and SCORE chapters to provide services including business planning assistance, financial literacy training, mentorship, and access to startup capital. The bill targets groups that face significant employment barriers due to criminal records, citing research showing that formerly incarcerated individuals who become entrepreneurs earn more and have lower recidivism rates than those seeking traditional employment. The SBA must establish the program within 180 days and will award grants between $100,000 and $500,000 annually to geographically diverse organizations over a five-year period, with priority given to applicants offering concurrent employment services and those serving individuals releasing from federal prison within 18 months. The bill requires annual congressional reports on program outcomes and calls for a Government Accountability Office evaluation after the program concludes, though it does not specify a total funding amount.
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