Economic Ownership and Development Act of 1990

Summary

Economic Ownership and Development Act of 1990 - Title I: General Provisions - States the findings and purposes of, and definitions of terms used in, this Act. Title II: Contracting with Disadvantaged Business Concerns - Mandates that each Federal agency annually award a specified percentage of all covered contracts and subcontracts to disadvantaged business concerns. Sets forth criminal penalties for misrepresentation to secure such a contract. Title III: Subcontracting with Disadvantaged Business Concerns - Mandates that each Federal solicitation for contracts include the requirement for a subcontracting plan meeting specified criteria regarding the use of disadvantaged business concerns. Title IV: Outreach and Assistance Program - Requires each Federal agency to establish a disadvantaged business concern outreach and assistance program according to prescribed guidelines. Authorizes such agencies to offer such business concerns a bonding and general financial assistance program. Title V: Reports and Statistical Data - Mandates that each Federal agency report annually to the Congress regarding its contract activities. Requires the Bureau of Labor Statistics to include in its census report business data on sole proprietorships, partnerships, and corporations. Requires the Bureau of the Census to conduct an annual survey of disadvantaged business concerns as a supplement to its periodic business census. Prescribes a business data collection scheme to be used by the Office of Federal Procurement Policy in annual reports to the Congress. Requires a biennial General Accounting Office report to the Congress regarding the award of covered contracts and financial assistance provided under this Act. Title VI: Commission on Economic Set-Asides - Establishes the Commission on Economic Set-Asides to assist agencies in the implementation of this Act.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 March 1990

  Open at official source

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