S. 3564 would authorize the Small Business Administration (SBA) to carry out the Boots to Business (B2B) Program over the 2023-2027 period. That program, which the SBA operates under authorities provided in Public Law 93-237, provides entrepreneurship training to members of the Armed Forces (including the National Guard or Reserves), veterans, and the spouses or dependents of those people.
The legislation would authorize the SBA to make grants to Veteran Business Outreach Centers and to collaborate with public and private entities to develop training courses, which it does under its current program. S. 3564 also would require the SBA to share B2B program information with other veterans’ agencies and to submit annual program reports to the Congress.
CBO estimates that implementing S. 3564 would cost less than $500,000 over the 2023- 2027 period, primarily for additional reporting requirements; any spending would be subject to the availability of appropriated funds.
On March 7, 2022, CBO transmitted a cost estimate for H.R. 3469, the Veteran Entrepreneurship Training Act of 2021, as passed by the House of Representatives on November 2, 2021. The two versions of the legislation are similar and CBO’s estimates of their budgetary effects are the same.