S. 294 would authorize the appropriation of $5 million a year over the 2020-2024 period for the Bureau of Indian Affairs to make grants to other organizations that would provide business incubation services to Native American entrepreneurs and businesses including physical workplaces, business skills training, and access to networks of potential investors. Grants would be awarded for three-year periods and could be renewed for an additional three-years.
CBO assumes S. 294 will be enacted in fiscal year 2019 and that the authorized amounts will be appropriated for each fiscal year. Estimated outlays are based on historical spending patterns for similar programs.
CBO estimates that implementing the bill would cost $18 million over the 2020-2024 period. The costs of the legislation fall within budget function 450 (community and regional development).