Economic Stabilization, Adjustment, and Defense Industry Conversion Act of 1990

Economic Stabilization, Adjustment, and Defense Industry Conversion Act of 1990 - Title I: The President's Economic Stabilization and Adjustment Council - Establishes the President's Economic Stabilization and Adjustment Council, headed by a Chairperson, to design and establish an economic adjustment program to assist local communities in the alleviation of adverse economic and social effects of defense realignments, including military installation or defense facility closures or realignments and the cancellation or curtailment of major defense contracts (contracts in excess of $10,000,000). Requires the Council: (1) upon receiving notification of the annual budget proposals of the Secretary of Defense, to commence a preliminary study of the potential adverse economic effects of such proposals on any region, locality, or community; (2) to study and prepare a policy to facilitate the conversion of defense facilities, military installations, and other portions of the defense industry which are no longer needed for defense purposes into productive uses in the civilian economy; (3) to take appropriate action to encourage the private sector and State and local governments to develop plans for the conversion of former defense industry facilities into private enterprises and public projects; (4) to establish within the executive office an Office of Economic Stabilization and Adjustment to provide staff support for the Council; and (5) to prepare and submit to the Congress an economic stabilization and adjustment report on an annual basis.

Title II: Community Economic Adjustment Planning - Requires the Secretary of Defense, upon release of the President's budget or any announcement of the realignment or closure of any military installation or defense facility, to notify any State or local government which may be affected by such realignment or closure or by the termination or curtailment of a major defense contract. Allows any community which is likely to be substantially and seriously affected to be eligible for economic adjustment planning assistance under this Act. Requires such communities to prepare certain analyses and forecasts in order to receive such assistance. Requires the Council to review such analyses and forecasts to determine which communities are eligible for such assistance.

Title III: Economic Planning and Adjustment Assistance - Makes all communities determined eligible for economic adjustment planning assistance eligible for community planning assistance under Federal armed forces provisions and for economic adjustment assistance under the Public Works and Economic Development Act of 1965. Increases the amount of such Federal armed forces community planning assistance.

Title IV: Economic Adjustment Assistance for Employees - Subtitle A: Qualification of Group Eligibility - Outlines procedures under which workers may petition the Secretary of Labor for economic adjustment assistance under this Act. Provides for public hearings, a determination by the Secretary that such group meets such requirements, and issuance by the Secretary of a certificate of eligibility. Outlines administrative limitations and procedures in connection with such certification. Requires the Secretary to provide notice and information to affected workers about the benefit allowances, training, and other employment services available and about application procedures in connection with such assistance.

Subtitle B: Program Benefits - Chapter 1: Economic Readjustment Allowances - Authorizes the payment of economic readjustment allowances to adversely affected workers who are covered by such a certification, who file appropriate applications, and who meet specified conditions concerning length and amount of former employment in the defense-related industry before the layoff or termination took place. Requires such workers to be enrolled in or have completed a worker retraining program approved by the Secretary of Labor, unless the Secretary or the State or a State agency determines that such a program is not feasible or appropriate. Sets forth amounts of the economic readjustment allowance payable, reduced by any payments received during approved retraining. Requires such payments to be coordinated with benefits provided under other Federal training programs. Limits the dollar and time-period amounts of such assistance.

Chapter 2: Training, Other Employment Services, and Allowances - Directs the Secretary of Labor to make every reasonable effort to secure for adversely affected workers covered by a certification under subtitle A counseling, testing, and placement services and supportive and other services provided under any other Federal law. Authorizes the Secretary to approve worker training under specified conditions and give priority to on-the-job training. Limits the maximum amount of payments for such training. Requires such benefits to be coordinated with other Federal training programs. Outlines other training program conditions, requirements, and limitations.

Allows any adversely affected worker covered by an appropriate certification to file with the Secretary an application for a job search allowance. Allows such workers to apply for a relocation allowance to cover required relocation expenses, under certain conditions.

Subtitle C: General Provisions - Outlines general and administrative provisions concerning: (1) agreements between the Secretary and a State for the provision of economic adjustment assistance under this Act; (2) the determination and provision of economic adjustment assistance by the Secretary in the absence of any State agreement; (3) payments to States under an agreement concerning sums necessary to make economic adjustment assistance payments to affected workers; (4) liabilities of certifying and disbursing officers; (5) fraud and the recovery of overpayments in the provision of such assistance; and (6) penalties in connection with the disclosure of false information in order to receive such assistance. Gives the Secretary subpoena power in order to make eligibility determinations under this Act.

Title V: Expansion of Development and Venture Capital Programs - Allows any industry identified by the Council as an industry adversely affected by reductions in the Federal budget for defense production to be eligible for technical assistance under the Trade Act of 1974.

Expresses congressional recognition of the success over the past three decades of the small business investment company program established under the Small Business Investment Act of 1958. Directs the President, before the end of FY 1990, to prepare and submit to the Congress a plan for doubling the amount of Federal assistance provided under the small investment company program of such Act.

Expresses congressional recognition of the success of the Small Business Innovation Research Program in rewarding inventors. Directs the President, before the end of FY 1990, to develop and submit to the Congress a program for assisting inventors in developing their inventions, including doubling the percentage of the total budgets for research and development of Federal agencies that is devoted to the Small Business Innovation Research Program.

Expresses congressional recognition of the success of the certified development company program established under the Small Business Investment Act of 1958. Directs the President, before the end of FY 1990, to transmit to the Congress a program for expanding the amount of assistance provided to the certified development company program under such Act by 50 percent over a five-year period.

Amends the Small Business Investment Act to prohibit certain restrictive capital-to-jobs ratios from being imposed upon any certified development company under such Act.