SPARK Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8063 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8063 To amend the Small Business Act to spur entrepreneurial ecosystems in underserved communities, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 24, 2026 Ms. Pressley introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To amend the Small Business Act to spur entrepreneurial ecosystems in underserved communities, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Strengthening Place-based Access, Resources, and Knowledge Act'' or the ``SPARK Act''. SEC. 2. FINDINGS. Congress finds the following: (1) Studies have found that incubators, accelerators, and other similar models are effective at increasing revenues, the number of employees, and the likelihood that the business venture will be successful for participants. (2) According to the 2023 Report on Startup Firms Owned by People of Color: Findings from the 2022 Small Business Credit Survey-- (A) startups owned by racial minorities are more than twice as likely to be denied for financing from lenders than non-minority-owned startups; and (B) mission-oriented financial institutions and community-based lenders, including minority depository institutions and community development financial institutions, are critical in helping minority-owned businesses access capital. (3) According to the Kauffman Foundation-- (A) minority-owned and women-owned businesses are half as likely to have workers than non-minority-owned and men-owned businesses; and (B) if minorities started businesses at the same rate as non-minorities, approximately 9,5