To provide for the economic conversion and diversification of industries in the defense industrial base of the United States that are adversely affected by significant reductions in spending for national defense.
TABLE OF CONTENTS:
Title I: Presidential Council on Economic Diversification
and Adjustment
Title II: Grant Assistance for Alternative Use Committees
Title III: Displaced Workers
Title IV: Export Opportunities
Title V: Defense Production Act
Title VI: Small Business
Title VII: Economic Development Assistance
Title VIII: Defense Economic Adjustment Trust Fund
Defense Industrial Stabilization and Community Transition Act of 1993 - Title I: Presidential Council on Economic Diversification and Adjustment - Establishes the Presidential Council on Economic Diversification and Adjustment within the Executive Office to: (1) determine future reductions in defense spending; (2) identify communities and businesses that will be adversely affected and assist them in diversifying into nondefense commercial activities; (3) assist defense-dependent industries in seeking new markets and workers adversely affected by spending reductions; (4) serve as a liaison among Government programs to minimize adverse effects; (5) maintain the integrity of the defense industrial base during periods of significant spending reductions; (6) ensure that the U.S. technological base is not unduly impaired by such reductions; (7) maintain a clearinghouse of information on State and local initiatives on diversification of businesses and communities; (8) assist State economic development offices in meetings on diversification; (9) ensure that communities, businesses, and workers likely to be adversely affected are given advance notice; and (10) allocate funds in the Defense Economic Adjustment Trust Fund to relevant programs. Establishes Council working groups on technology, marketing, small business, and job training.
Title II: Grant Assistance for Alternative Use Committees - Authorizes the Council to make a grant to any eligible alternative use committee at a defense business facility for: (1) a marketing expert to determine potential market needs that provide diversification and conversion opportunities; (2) an office; and (3) experts to determine the feasibility of diversification and conversion alternatives for such facility.
Title III: Displaced Workers - Amends the Job Training Partnership Act to authorize certain funds under the Defense Saving Investment Act of 1991 to be made available for the defense conversion adjustment program.
Title IV: Export Opportunities - Amends the Export-Import Bank Act of 1945 to require the Export-Import Bank to include in an annual report to the Congress a description of actions taken to support the commercial diversification of industries dependent on defense spending.
Amends the Arms Export Control Act to authorize the President to extend guarantees to U.S. businesses in connection with the sale of defense articles and services to NATO countries, Japan, Australia, New Zealand, and Israel. Authorizes appropriations.
Title V: Defense Production Act - Amends the Defense Production Act of 1950 to authorize the President to permit specified Federal agencies engaged in defense procurement to guarantee any financing institution against losses on any commitment for financing the conversion of businesses from defense-related production to commercial production. Permits the President to provide such authority only with respect to businesses critical to the U.S. defense industrial base that are likely to be closed.
Title VI: Small Business - Directs the Administrator of the Small Business Administration to increase: (1) the number of small business development centers in defense-dependent regions; and (2) the assistance and services provided to defense-dependent small business concerns.
Amends the Small Business Act to increase the amount required to be allocated for small business innovation research programs.
Title VII: Economic Development Assistance - Makes communities that will be adversely affected by defense spending reductions eligible for special economic development and adjustment assistance under the Public Works and Economic Development Act of 1965. Authorizes the Council to transfer funds under this Act for providing assistance under such Act.
Title VIII: Defense Economic Adjustment Trust Fund - Establishes the Defense Economic Adjustment Trust Fund. Authorizes appropriations.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the House Committee on Education and Labor.
Referred to the House Committee on Foreign Affairs.
Referred to the House Committee on Public Works + Transportation.
Referred to the House Committee on Small Business.
Referred to the Subcommittee on Economic Growth and Credit Formation.
Referred to the Subcommittee on International Security, International Organizations and Human Rights.
Referred to the Subcommittee on Economic Policy, Trade and Environment.
Referred to the Subcommittee on Economic Development.
Referred to the Subcommittee on Labor-Management Relations.
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Referred to the Subcommittee on SBA Legislation and the General Economy.