S. 4414, State Trade Expansion Program Modernization Act of 2024
As reported by the Senate Committee on Small Business and Entrepreneurship on May 23, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
0
0
0
Spending Subject to Appropriation (Outlays)
0
110
150
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
No
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
Summary
S. 4414 would authorize the appropriation of $30 million annually for fiscal years 2025 through 2029 for the Small Business Administration (SBA) to operate the State Trade Expansion Program (STEP). That program provides support to small businesses seeking to export their products to international markets.
Changes under the bill would include:
Requiring the SBA to streamline the program’s application process and improve transparency so that states may apply for and manage grants more easily;
Maintaining a website with complete information about program requirements, application procedures, and funding opportunities; and
Expanding eligibility to include the U.S. Virgin Islands, Guam, American Samoa, Puerto Rico, and the Northern Mariana Islands.
