Minority Business Development and Assistance Act

[AI summary unavailable — showing source text] Minority Business Development and Assistance Act - Establishes an Office for Minority Business Development and Assistance in the Department of Commerce. Transfers to the Secretary of Commerce the functions of the Small Business Administration and any other separable function of any Federal department or agency which relates primarily to the development or assistance of minority business enterprises. Requires the Secretary to report to Congress and the President on recommendations for necessary action with respect to Federal activities which relate to minority business enterprise. Authorizes the appropriation in each fiscal year the sum of $65,000,000, and such other sums as necessary to carry out this Act.…