text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Microenterprise and Youth 
  Entrepreneurship Development Act of 2011''.
  
  SEC. 2. MICROENTERPRISE TECHNICAL ASSISTANCE AND CAPACITY BUILDING 
                PROGRAM.
  
      (a) Definitions.--Section 172(5) of the Riegle Community 
  Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6901(5)) 
  is amended--
              (1) in subparagraph (B) by striking ``or'' at the end;
              (2) in subparagraph (C) by striking the period at the end 
          and inserting ``; or''; and
              (3) by adding at the end the following:
                      ``(D) an entrepreneur that operates a business or 
                  intends to operate a business in an investment area (as 
                  such term is defined in section 103(16) of this 
                  Act).''.
      (b) Uses of Assistance.--Section 174 of the Riegle Community 
  Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6903) is 
  amended--
              (1) in paragraph (3) by striking ``and'' at the end;
              (2) by redesignating paragraph (4) as paragraph (5); and
              (3) by inserting after paragraph (3) the following:
              ``(4) to advertise in print, electronic, and other media 
          the training and technical assistance provided under paragraph 
          (1); and''.
      (c) Targeted Assistance.--Section 176(b) of the Riegle Community 
  Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6905(b)) 
  is amended by striking ``50 percent'' and inserting ``60 percent''.
      (d) Matching Requirements.--Section 177(c) of the Riegle Community 
  Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6906(c)) 
  is amended by adding at the end the following:
              ``(3) Consideration.--In determining whether to reduce or 
          eliminate matching requirements under paragraph (1), the 
          Administrator shall consider the impact of the economic crisis 
          of 2007 through 2009 on the geographic area in which an 
          applicant operates.''.
      (e) Report.--Not later than 180 days after the date of enactment of 
  this Act, the Administrator of the Small Business Administration shall 
  submit to the Committee on Small Business of the House of 
  Representatives and the Committee on Small Business and 
  Entrepreneurship of the Senate a report describing recommendations for 
  improving the application and grant making process of the 
  microenterprise technical assistance and capacity building grant 
  program (carried out under subtitle C of title I of the Riegle 
  Community Development and Regulatory Improvement Act of 1994), 
  including recommendations, developed in consultation with stakeholders, 
  for streamlining the application and grant making process of that 
  program.
      (f) Microenterprise Coordinator.--
              (1) Establishment.--Not later than 1 year after the date of 
          enactment of this Act, the Administrator shall establish in the 
          Small Business Administration the position of Microenterprise 
          Coordinator.
              (2) Duties.--The Microenterprise Coordinator shall--
                      (A) work to ensure that the contributions of 
                  microenterprises to the economy are maximized;
                      (B) work to enhance, support, and coordinate the 
                  programs of the Federal Government providing assistance 
                  to microenterprises, including Federal technical 
                  assistance programs;
                      (C) work to ensure that underserved entrepreneurs 
                  are included in the programs of the Federal Government 
                  providing assistance to microenterprises;
                      (D) make available to the public annually a 
                  comprehensive list and description of each Federal 
                  program that provides assistance to microenterprises; 
                  and
                      (E) encourage public-private partnerships that 
                  support entrepreneurship.
              (3) Microenterprise defined.--In this subsection, the term 
          ``microenterprise'' has the meaning given that term in section 
          172(10) of the Riegle Community Development and Regulatory 
          Improvement Act of 1994 (15 U.S.C. 6901(10)).
  
  SEC. 3. OFFICE OF YOUTH ENTREPRENEURSHIP.
  
      (a) Establishment.--Not later than 1 year after the date of 
  enactment of this Act, the Administrator of the Small Business 
  Administration shall establish an Office of Youth Entrepreneurship (in 
  this section referred to as the ``Office'') in the Small Business 
  Administration.
      (b) Director.--The Administrator shall appoint a Director of Youth 
  Entrepreneurship (in this section referred to as the ``Director'') to 
  serve as the head of the Office.
      (c) Duties.--The Director shall--
              (1) carry out the youth entrepreneurship technical 
          assistance grant program described in subsection (d);
              (2) carry out the youth entrepreneurship curriculum grant 
          program described in subsection (e);
              (3) promote the growth of youth entrepreneurship by 
          establishing public-private partnerships and carrying out 
          advertising campaigns;
              (4) sponsor and support State and national youth 
          entrepreneurship competitions that raise awareness of the 
          importance of small business development;
              (5) study and promote Federal activities that support 
          entrepreneurship education; and
              (6) support the establishment of public and private youth 
          entrepreneurship education and mentoring opportunities.
      (d) Youth Entrepreneurship Technical Assistance Grant Program.--The 
  Director shall establish a program under which the Director may make 
  grants to assist entities, including nonprofit microenterprise 
  development organizations, to provide individuals under 25 years of age 
  with technical assistance related to entrepreneurship.
      (e) Youth Entrepreneurship Curriculum Grant Program.--
              (1) In general.--The Director shall establish a program 
          under which the Director may make grants to a covered entity to 
          assist the development, improvement, or implementation of a 
          youth entrepreneurship curriculum that includes information on 
          the topics of--
                      (A) securing capital and borrowing;
                      (B) business plan conception and drafting;
                      (C) accounting;
                      (D) management; and
                      (E) marketing.
              (2) Application process.--To be eligible for a grant 
          described in paragraph (1), a covered entity shall submit to 
          the Director an application at such time, in such manner, and 
          containing such information as the Director may require, except 
          that the application shall include at least--
                      (A) a description of the curriculum to be 
                  developed, improved, or implemented;
                      (B) a description of how grant funds will be used;
                      (C) a description of goals relating to the use of 
                  grant funds and the curriculum to be developed, 
                  improved, or implemented; and
                      (D) a description of how progress will be measured 
                  with respect to the goals described in subparagraph 
                  (C).
              (3) Covered entity defined.--In this subsection, the term 
          ``covered entity'' means a local educational agency in any of 
          the several States, the District of Columbia, or a territory or 
          possession of the United States and a local educational agency 
          of a federally recognized Indian tribe.
      (f) Investment Areas.--
              (1) In general.--The Director shall ensure that at least 25 
          percent of the amounts made available to carry out the Office 
          each fiscal year are used to assist youth in investment areas.
              (2) Investment area defined.--In this subsection, the term 
          ``investment area'' has the meaning given that term in section 
          103(16) of the Riegle Community Development and Regulatory 
          Improvement Act of 1994 (12 U.S.C. 4702(16)).
      (g) Student Loan Assistance.--Not later than 180 days after the 
  date of enactment of this Act, the Director, in consultation with the 
  Secretary of Education, shall submit to Congress a report that includes 
  detailed recommendations for legislation--
              (1) establishing a program to forgive student loans in a 
          manner that assists youth entrepreneurship by making available 
          capital for business formation; and
              (2) establishing a program to defer student loan repayments 
          in a manner that assists youth entrepreneurship by making 
          available capital for business formation.
  
  SEC. 4. GAO STUDY AND REPORT.
  
      (a) Study.--The Comptroller General of the United States shall 
  conduct a study on--
              (1) the economic impact of allowing youth entrepreneurs to 
          defer student loan repayments to make available capital for 
          business formation;
              (2) the economic impact of increasing the participation of 
          individuals under 25 years of age in the microloan program of 
          the Small Business Administration (carried out under section 
          7(m) of the Small Business Act (15 U.S.C. 636(m)), 
          notwithstanding the limited collateral and formal business 
          experience of such individuals;
              (3) alternative methods for measuring creditworthiness that 
          may assist youth entrepreneurship; and
              (4) actions Congress should consider to promote youth 
          entrepreneurship.
      (b) Report.--Not later than 180 days after the date of enactment of 
  this Act, the Comptroller General shall submit to the Committee on 
  Small Business of the House of Representatives and the Committee on 
  Small Business and Entrepreneurship of the Senate a report on the 
  results of the study conducted under subsection (a).
target: Microenterprise and Youth Entrepreneurship Development Act of 2011 - Amends the Riegle Community Development and Regulatory Improvement Act of 1994 for purposes of the microenterprise technical assistance and capacity building grant program to include in the definition of "disadvantaged entrepreneur" a microentrepreneur operating or intending to operate a business in an investment area.
  
  Increases to 60% (currently, 50%) the minimum percentage of such grants required to be used to benefit very low-income persons, including those residing on Indian reservations.
  
  Requires the Administrator of the Small Business Administration (SBA) to consider the impact of the 2007-2009 economic crisis on an applicant's geographic area when deciding whether to reduce or eliminate matching requirements for applicants with severe constraints on available funding sources.
  
  Directs the Administrator to establish an SBA Microenterprise Coordinator position.
  
  Requires the Administrator to establish an Office of Youth Entrepreneurship and appoint a Director to carry out: (1) the youth entrepreneur technical assistance grant program to make grants to assist entities, including nonprofit microenterprise development organizations, to provide individuals under 25 years of age with technical assistance related to entrepreneurship; and (2) the youth entrepreneurship curriculum grant program to make grants to applying local educational agencies of states and federally recognized Indian tribes.
feat_title: To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to improve the microenterprise technical assistance and capacity building grant program, to establish an Office of Youth Entrepreneurship in the Small Business Administration, and for other purposes.