Minority Business Development Act of 1980

Summary

Minority Business Development Act of 1980 - Redesignates the Minority Business Development Agency in the Department of Commerce as the Minority Business Development Administration. Provides that such Administration shall be headed by an Assistant Secretary of Commerce. Title I: Market Development - Sets forth such Administration's duties in the private and public sectors, including: (1) assistance in penetrating domestic and foreign markets; (2) encouragement in establishing joint ventures; and (3) assistance and cooperation with State and local governments. Authorizes the Administration to provide financial assistance in carrying out such purposes to State and local governments, and to public and private business organizations. Title II: Capital Formation - Authorizes such Administration to defray all or part of the costs of pilot or demonstration projects designed to assist disadvantaged business in obtaining access to equity capital. Establishes within the Treasury a revolving fund for such Administration's use. Authorizes the use of such funds to aid qualified businesses by purchasing equity investments (up to $2,000,000) in such businesses. Title III: Management Educational Development - Sets forth duties of the Administration related to management development. Title IV: Research and Information - Sets forth duties of the Administration related to research and information, including: (1) data collection and analysis; (2) economic surveys; and (3) maintaining a data bank and information clearinghouse. Requires the Administration to submit a report to Congress within one year of enactment of this Act regarding the resources needed to advance and represent disadvantaged businesses. Title V: Administrative and Miscellaneous Powers of the Administration - Sets forth administrative provisions. Requires the Assistant Secretary to submit an annual report to the President regarding the Administration's activities.

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1 official file

• Introduced in House

  summary · EN · 25 March 1980

  Open at official source

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