New Opportunities for Business Ownership and Self-Sufficiency Act
Apr 27, 2026
Apr 27, 2026
Summary
Makes it easier for unemployed people to get help starting their own business through state-run programs by changing the rules for who can join.
What problem does this solve?
Current rules for state programs that help unemployed people start a business are too strict, preventing many from getting the help they need. This bill loosens those rules, allowing more people to join these programs and receive support to become self-employed.
What does this bill do?
Reference
Text:
Section:
Sec. 2(d)
Header:
Adjustment of limitation on number of individuals participating
Increases program capacity
Doubles the limit on the number of people who can participate in a state's program, from 5 percent to 10 percent of those receiving unemployment money.
Reference
Text:
Section:
Sec. 2(a)
Header:
Elimination of requirement that participants are likely to exhaust regular...
Removes barrier to entry
Eliminates the rule that a person must be likely to run out of unemployment money to join a self-employment help program.
Reference
Text:
Section:
Sec. 2(b)
Header:
Modification of requirement To participate in self-Employment assistance...
Flexible participation requirements
Allows people to join by either taking part in training and counseling or by having an approved business plan and market study.
Adds weekly check-in
Requires participants to report on their self-employment activities to a state agency at least once a week.
Issues guidance to states
Directs the Secretary of Labor to provide states with a model list of approved activities and best practices for checking that they are completed.
Who does this affect?
- Unemployed individuals
- State workforce agencies
- Aspiring entrepreneurs
What is the real world impact?
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Encourages entrepreneurship for the unemployed
Provides a pathway for unemployed individuals to start their own businesses instead of just searching for traditional jobs. This can lead to new job creation and economic growth.
When does this start?
The changes will take effect two years after the bill becomes law, but states are allowed to update their own laws sooner.