New Opportunities for Business Ownership and Self-Sufficiency Act

This bill makes changes to a program called Self-Employment Assistance (SEA), which gives money to people who qualify for unemployment benefits but want to start their own business instead of looking for a job. The bill doubles the number of people allowed to participate in the program in each state, from 5% to 10% of those receiving regular unemployment benefits. It also makes it easier for people to qualify by removing the requirement that they be identified as likely to use up all their unemployment benefits. Additionally, participants would need to confirm at least every week that they are working full-time on starting a business, and they could meet the program's activity requirements either through training and counseling or by following a state-approved business plan and market study.

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