; (B) entrepreneurship reduces the likelihood of recidivism by 5.3 percent, which was a 32.5 percent decrease from average recidivism rates for regular employees who have been previously incarcerated; and (C) formerly incarcerated individuals who choose entrepreneurship make $2,700 more annually than formerly incarcerated employees and that the income gap between formerly incarcerated entrepreneurs and entrepreneurs with no criminal record was 38 percent lower than the income gap between formerly incarcerated employees and employees with no criminal record. 3. Pilot program (a) Definitions In this Act— (1) the terms Administration and Administrator mean the Small Business Administration and the Administrator thereof, respectively; (2) the term appropriate committees of Congress means— (A) the Committee on Small Business and Entrepreneurship of the Senate; and (B) the Committee on Small Business of the House of Representatives; (3) the term covered individual means an individual who— (A) completed a term of imprisonment in Federal, State, or local jail or prison; and (B) meets the offense eligibility requirements set forth in any applicable policy notice or other guidance issued by the Small Business Administration for the program established under section 7(m) of the Small Business Act ( 15 U.S.C. 636(m) ); (4) the terms intermediary and microloan have the meanings given those terms in section 7(m)(11) of the Small Business Act ( 15 U.S.C. 636(m)(11) ); (5) the term microloan intermediary means an intermediary that is eligible to participate in the program established under section 7(m) of the Small Business Act ( 15 U.S.C. 636(m) ); (6) the term pilot program means the pilot program established under subsection (b)