15 U.S.C. § 9541

Current through P.L. 118-78 (published on www.congress.gov on 07/30/2024)

Section 9541 - Annual diverse business forum on capital formation

(a) Responsibility of Agency

Not later than 18 months after November 15, 2021, and annually thereafter, the Under Secretary shall conduct a Government-business forum to review the current status of problems and programs relating to capital formation by minority business enterprises.

(b) Participation in forum planning

The Under Secretary shall invite the heads of other Federal agencies, such as the Chairman of the Securities and Exchange Commission, the Secretary of the Treasury, and the Chairman of the Board of Governors of the Federal Reserve System, organizations representing State securities commissioners, representatives of leading minority chambers of commerce, not less than 1 certified owner of a minority business enterprise, business organizations, and professional organizations concerned with capital formation to participate in the planning of each forum conducted under subsection (a).

(c) Preparation of statements and reports

(1) Requests

The Under Secretary may request that any head of a Federal agency, department, or organization, including those described in subsection (b), or any other group or individual, prepare a statement or report to be delivered at any forum conducted under subsection (a).

(2) Cooperation

Any head of a Federal agency, department, or organization who receives a request under paragraph (1) shall, to the greatest extent practicable, cooperate with the Under Secretary to fulfill that request.

(d) Transmittal of proceedings and findings

The Under Secretary shall-

(1) prepare a summary of the proceedings of each forum conducted under subsection (a), which shall include the findings and recommendations of the forum; and

(2) transmit the summary described in paragraph (1) with respect to each forum conducted under subsection (a) to-

(A) the participants in the forum;

(B) Congress; and

(C) the public, through a publicly available website.

(e) Review of findings and recommendations; public statements

(1) In general

A Federal agency to which a finding or recommendation described in subsection (d)(1) relates shall-

(A) review that finding or recommendation; and

(B) promptly after the finding or recommendation is transmitted under subsection (d)(2)(C), issue a public statement-

(i) assessing the finding or recommendation; and

(ii) disclosing the action, if any, the Federal agency intends to take with respect to the finding or recommendation.

(2) Joint statement permitted

If a finding or recommendation described in subsection (d)(1) relates to more than 1 Federal agency, the applicable Federal agencies may, for the purposes of the public statement required under paragraph (1)(B), issue a joint statement.

15 U.S.C. § 9541

Pub. L. 117-58, §100201, 135 Stat. 1455.

Agency: The term "Agency" means the Minority Business Development Agency of the Department of Commerce.
Secretary: The term "Secretary" means the Secretary of Commerce.
State: The term "State" means-(A) each of the States of the United States;(B) the District of Columbia;(C) the Commonwealth of Puerto Rico;(D) the United States Virgin Islands;(E) Guam;(F) American Samoa;(G) the Commonwealth of the Northern Mariana Islands; and(H) each Tribal Government.
Under Secretary: The term "Under Secretary" means the Under Secretary of Commerce for Minority Business Development, who is appointed as described in section ______3(b) 1 to administer this chapter.1 So in original. See References in Text note below.