NO BOSS Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 5010 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 5010

    To amend the Internal Revenue Code of 1986 to modify the rules
   governing the State administration of self-employment assistance
                               programs.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             July 16, 2026

 Mr. Coons (for himself, Mr. Lankford, and Mr. Husted) introduced the
 following bill; which was read twice and referred to the Committee on
                                Finance

_______________________________________________________________________

                                 A BILL

    To amend the Internal Revenue Code of 1986 to modify the rules
   governing the State administration of self-employment assistance
                               programs.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``New Opportunities for Business
Ownership and Self-Sufficiency Act'' or the ``NO BOSS Act''.

SEC. 2. MODIFICATION OF RULES GOVERNING STATE ADMINISTRATION OF SELF-
              EMPLOYMENT ASSISTANCE PROGRAMS.

    (a) Elimination of Requirement That Participants Are Likely To
Exhaust Regular Unemployment Compensation.--Section 3306(t)(3) of the
Internal Revenue Code of 1986 is amended by striking subparagraph (B)
and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and
(C), respectively.
    (b) Modification of Requirement To Participate in Self-Employment
Assistance Activities.--Section 3306(t)(3)(B) of the Internal Revenue
Code of 1986, as redesignated by subsection (a), is amended to read as
follows:
                    ``(B) are participating in self-employment
                assistance activities which are approved by the State
                agency and either--
                            ``(i) include entrepreneurial training,
                        business counseling, and technical assistance;
                        or
                            ``(ii) are performed pursuant to a business
                        plan and market feasibility study submitted by
                        the individual and approved by the State or an
                        agency designated by the State; and''.
    (c) Effective Date.--The amendments made by this section shall
apply beginning on the date that is 2 years after the date of enactment
of this section, except that nothing in this section shall be
interpreted to prevent a State from amending its law before the end of
the 2-year period beginning on the date of the enactment of this
section.
    (d) Issuance of Regulations.--The Secretary of Labor shall, after
public notice and comment and subject to approval by the Office of
Management and Budget, adopt regulations to administer this section.
    (e) Issuance of Guidance.--The Secretary of Labor shall provide
guidance to State workforce agencies that includes--
            (1) a model list of self-employment assistance activities
        that fulfill requirements of the program under section 3306(t)
        of the Internal Revenue Code of 1986; and
            (2) best practices for verification of completion of such
        activities.
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