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Minority Business Development Act of 1993

Introduced: January 5, 1993 Introduced by: Mfume, Kweisi Democratic · Maryland See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 1993
Referred to the Subcommittee on Economic Growth and Credit Formation.
Feb 1, 1993
Referred to the Subcommittee on SBA Legislation and the General Economy.
Jan 5, 1993
Referred to the House Committee on Small Business.
Jan 5, 1993
Referred to the House Committee on Banking, Finance + Urban Affrs.
Jan 5, 1993
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now February 1, 1993

Referred to the Subcommittee on Economic Growth and Credit Formation.

 Committees of jurisdiction 4