H.R. 5480: African Entrepreneurship Act of 2006

109th Congress · introduced 2006-05-25 · International Affairs · Latest: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

Follow this bill, step by step

Where it came from: introduced 2006-05-25 · official record
Who proposed it: Rep. McDermott, Jim [D-WA-7] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on International Relations, and in addition to the Committees on Ways and Means, Small Business, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

African Entrepreneurship Act of 2006

Plain summary

African Entrepreneurship Act of 2006 - States that it shall be U.S. policy to make available for private sector development in sub-Saharan African countries professional, technical, and other resources for capacity-building for retail banks and small and medium enterprises, including farmers' cooperatives and businesses, to promote entrepreneurship and economic and export diversification, to expand the formal sector, and to increase trade. Amends the Internal Revenue Code to include an African Economic Diversification Fund financing rate in the determination of the tax on petroleum products entered into the United States directly from a beneficiary sub-Saharan country. Terminates the Fund financing rate after December 31, 2011. Establishes in the Treasury the African Economic Diversification Fund. Sets forth permitted expenditures. Amends the Small Business Act to establish in the Office of International Trade the 21st Century African Entrepreneurs Program to provide assistance to qualified small and medium African enterprises. Provides for the establishment of not less than three African Entrepreneurs Program Centers for each of FY2007-FY2012 in qualified sub-Saharan countries. Directs the Administrator of the Small Business Administration (SBA) to establish the U.S.-Africa Private Sector Advisory Council. States that: (1) the Administrator should provide the Secretary of the Treasury with information pertaining to how African Development Bank programs can be used to improve the 21st Century African Entrepreneurs Program; (2) the Secretary of Agriculture should provide the Secretary of the Treasury with information pertaining to how the establishment of a value-added agricultural loan facility can be used to support development of qualified small and medium African enterprises devoted to the processing of agricultural commodities; and (3) the Secretary of State should undertake activities to strengthen internationally recognized labor rights and standards in qualified sub-Saharan African countries. Authorizes the President, through the United States Agency for International Development (USAID), to provide assistance to small and medium enterprises in such countries for: (1) youth entrepreneurship programs; and (2) anti-corruption initiatives.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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What does this mean? (plain words)

Official text

African Entrepreneurship Act of 2006

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. McDermott, Jim [D-WA-7] · 20 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Betty McCollum (D-MN), Lloyd Doggett (D-TX), Gregory W. Meeks (D-NY), James P. McGovern (D-MA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Ballot initiative: A proposed law or constitutional amendment that citizens place on the ballot by gathering enough voter signatures, so voters decide it directly. About half the states allow some form of it.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109hr5480.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/hr>

Record fed-us-cong109-hr5480 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109