To establish a Minority Business Development Administration in the Department of Commerce, to clarify the relationship between such Administration and the Small Business Administration, and for other purposes.
TABLE OF CONTENTS:
Title I: Market Development
Title II: Capital Formation
Title III: Management Educational Development
Title IV: Research and Information
Title V: Administrative and Other Powers of the
Administration; Miscellaneous Provisions
Minority Business Development Act of 1993 - Redesignates the Minority Business Development Agency in the Department of Commerce as the Minority Business Development Administration.
Title I: Market Development - Empowers the Administration to: (1) assist disadvantaged businesses in penetrating domestic and foreign markets; and (2) encourage disadvantaged firms to establish joint ventures and projects to increase their share of the market. Exempts from the antitrust laws and the Federal Trade Commission Act any act within the scope of any approved joint program for market development.
Authorizes the Administration to provide financial assistance to public and private entities to carry out this Act.
Title II: Capital Formation - Authorizes the Administration to defray all or part of the costs of pilot projects conducted by public or private organizations and designed to assist disadvantaged businesses in obtaining equity capital.
Directs the Administration to study and report to specified congressional committees on alternatives for providing capital formation assistance to qualified disadvantaged businesses.
Title III: Management Educational Development - Requires the Administration to: (1) encourage universities, business leaders, and other entities to offer scholarships, sponsor seminars, and provide internships for the benefit of disadvantaged individuals; and (2) accelerate curriculum design in support of disadvantaged business development.
Title IV: Research and Information - Authorizes the Administration to: (1) provide financial assistance to public and private organizations to assist the Administration in collecting data on the causes for success and failure of disadvantaged businesses and in conducting research on how economic conditions affect their development; (2) develop a data bank on disadvantaged businesses; and (3) establish an information clearinghouse for pertinent data.
Title V: Administrative and Other Powers of the Administration; Miscellaneous Provisions - Sets forth the administrative powers of the Administration.
Authorizes appropriations.
Introduced in House
Introduced in House
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Domestic and International Monetary Policy.
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