1. Short title This Act may be cited as the SCORE Act of 2023 . 2. Amendments to the SCORE program (a) In general Section 8 of the Small Business Act ( 15 U.S.C. 637 ) is amended— (1) in subsection (b)(1)— (A) in subparagraph (A)(i)(II)(aa), by inserting with relevant knowledge of modern business practices after institutions ; and (B) in subparagraph (B)— (i) by striking a Service Corps of Retired Executives (SCORE) and an Active Corps of Executive (ACE) and inserting a Supporting Coaching Opportunities for Resilient Entrepreneurs (SCORE) program ; and (ii) by striking SCORE may and inserting the SCORE Program may ; and (2) by striking subsection (c) and inserting the following: (c) SCORE program (1) Cooperative agreement (A) In general Not later than 180 days after the date of enactment of the SCORE Act of 2023 , the Administrator shall enter into a cooperative agreement with an organization described in subparagraph (B) to carry out the SCORE program, which shall provide business coaching to entrepreneurs seeking to form, grow, scale, or sell their small business concern. (B) Eligible organization The awardee of the cooperative agreement under subparagraph (A) shall be an organization that— (i) is well-equipped to provide fundamental, modern, and relevant business training and counseling to individuals in both rural and urban areas; and (ii) shall be able to effectively reach underserved individuals while overseeing the volunteers participating in the SCORE program. (C) Recompete process Not later than 5 years after the date on which the Administrator enters into a cooperative agreement under subparagraph (A), and every 5 years thereafter, the Administrator shall engage in a competitive bidding process to enter into a cooperative agreement with an organization described in subparagraph (B). (2) Administrator duties The Administrator shall— (A) assist the Office of Inspector General of the Administration in conducting their audit of the SCORE program that shall occur once every 3 years