S. 2631: SOAR Act
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S. 2631: SOAR Act
117th Congress · introduced 2021-08-05 · Commerce · Latest: Committee on Small Business and Entrepreneurship. Hearings held.
federal
Follow this bill, step by step
- Where it came from: introduced 2021-08-05 · official record
- Who proposed it: Sen. Booker, Cory A. [D-NJ] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Committee on Small Business and Entrepreneurship. Hearings held. 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.
Official title
SOAR Act
Plain summary
Startup Opportunity Accelerator Act of 2021 or the SOAR Act This bill requires the Small Business Administration to develop and implement a program to award cash grants of at least $1,000,000 to organizations that support new small businesses. These awards may be used for construction costs, space acquisition, and programmatic purposes, but they may not be used to provide capital or professional services to small businesses directly or through the subaward of funds. The organization must have the support of new small businesses as a primary purpose and be often classified as an accelerator. The term accelerator means an organization that (1) supports new businesses with a focus on technology, research, and development; (2) frequently provides, but is not exclusively designed to provide, seed investment in exchange for a small amount of equity; (3) works with a startup for a predetermined amount of time; (4) provides mentorship and instruction to scale businesses; or (5) offers startup capital or the opportunity to raise capital from outside investors.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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A “Nay” vote
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Booker, Cory A. [D-NJ] · 2 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Mazie K. Hirono (D-HI), Chris Van Hollen (D-MD)
Sponsor's campaign money: Sen. Booker, Cory A. [D-NJ] reported raising $21.3 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
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)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s2631.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>
Record fed-us-cong117-s2631 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117