(a) DutiesThe Under Secretary shall, whenever the Under Secretary determines such action is necessary or appropriate—
(1)
promote the education and training of socially or economically disadvantaged individuals in subjects directly relating to business administration and management;
(2) encourage institutions of higher education, leaders in business and industry, and other public sector entities and private sector entities, particularly minority business enterprises, to—
(A)
develop programs to offer scholarships and fellowships, apprenticeships, and internships relating to business to socially or economically disadvantaged individuals; and
(B)
sponsor seminars, conferences, and similar activities relating to business for the benefit of socially or economically disadvantaged individuals;
(3)
stimulate and accelerate curriculum design and improvement in support of development of minority business enterprises; and
(b) Parren J. Mitchell Entrepreneurship Education Grants
(1) Definition
In this subsection, the term “eligible institution” means an institution of higher education described in any of paragraphs (1) through (7) of section 1067q(a) of title 20.
(2) Grants
The Under Secretary shall award grants to eligible institutions to develop and implement entrepreneurship curricula.
(3) RequirementsAn eligible institution to which a grant is awarded under this subsection shall use the grant funds to—
(4) Implementation timeline
The Under Secretary shall establish and publish a timeline under which an eligible institution to which a grant is awarded under this section shall carry out the requirements under paragraph (3).
(5) ReportsEach year, the Under Secretary shall submit to all applicable committees of Congress, and as part of the annual budget submission of the President under section 1105(a) of title 31, a report evaluating the awarding and use of grants under this subsection during the fiscal year immediately preceding the fiscal year in which the report is submitted, which shall include, with respect to the fiscal year covered by the report—