Bill · S. 5010· Senate(119-S-5010)
New Opportunities for Business Ownership and Self-Sufficiency Act
A bill to amend the Internal Revenue Code of 1986 to modify the rules governing the State administration of self-employment assistance programs.
- Introduced
- 7/16/2026
- Last activity
- 7/16/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Christopher Coons
- Cosponsors
- - 2 - 2
- Introduced
- In Committee
What this bill would do
This bill, known as the "New Opportunities for Business Ownership and Self-Sufficiency Act" or the "NO BOSS Act," aims to amend the Internal Revenue Code of 1986. It focuses on modifying the rules for how States administer self-employment assistance programs. Specifically, it removes the requirement that participants must be likely to exhaust regular unemployment compensation. It also changes the requirements for participating in self-employment assistance activities. The changes are set to take effect two years after enactment. Finally, it directs the Secretary of Labor to adopt regulations and provide guidance to State workforce agencies.
Yes· 3 of 12
Does this make it easier to run a small business?+6
The legislation improves small business support by providing clear pathways for entrepreneurial training, business counseling, and technical assistance.
Would business owners be better off under this?+5
Promotes new business formation and provides structured support like technical assistance and counseling for aspiring entrepreneurs.
Is this likely to create jobs?+5
The bill supports self-employment and business creation by streamlining state self-employment assistance programs for unemployed individuals.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Elimination of exhaustion requirement: By striking the requirement that participants are likely to exhaust regular unemployment compensation, the bill changes how individuals qualify for assistance. (Section 2(a))
-
Expanded assistance activities: The bill allows for self-employment assistance activities that include entrepreneurial training, business counseling, and technical assistance. (Section 2(b)(i))
-
Flexibility for business planning: Individuals can participate in activities performed pursuant to a business plan and market feasibility study that is approved by the State or a designated agency. (Section 2(b)(ii))
-
State agency guidance: The Secretary of Labor will provide a model list of activities and best practices for verifying completion to help State workforce agencies. (Section 2(e))
Potential Negative Impacts for People
- Delayed implementation: The amendments regarding the modification of rules do not apply until two years after the date of enactment. (Section 2(c))
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For Low Income Households+4Good For Middle Aged+4Good For Middle Class Households+4Good For Young Adults+4
- Economy And Finance
- Improves Small Business Support+6Increases Job Creation+5Increases Unemployment Benefits+4Improves Economic Growth+3
- Governance And Ideology
- Increase States Rights+3Increases Federal Power+2
- Social Issues And Justice
- Improves Poverty Reduction+3
- 9/16/2026
- 1 Cosponsor added.
- 8/4/2026
- 1 Cosponsor added.
- 7/16/2026
- Read twice and referred to the Committee on Finance.
- 2 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Michael BennetDemocrat · Colorado
Jon HustedRepublican · Ohio
Timothy KaineDemocrat · Virginia
James LankfordRepublican · Oklahoma