A bill to clarify and expand the functions of the Associate Administrator for Minority Small Business and Capital Ownership Development of the Small Business Administration, to transfer resources to the Administration to promote the execution of such functions and to eliminate duplicative functions of the Minority Business Development Agency.

[AI summary unavailable — showing source text] Amends the Small Business Act to provide that the Associate Administrator for Minority Small Business and Capital Ownership Development of the Small Business Administration shall be responsible for coordinating and formulating policies relating to Federal assistance to minority businesses, small businesses located in urban or rural areas with a high proportion of unemployed or low income individuals or owned by low income individuals and small businesses owned by socially and economically disadvantaged individuals. Directs the Associate Administrator to: (1) coordinate Federal programs that affect the establishment and preservation of minority businesses; (2) promote the mobilization of Federal, State, and local resources for the growth of such businesses; (3) establish a center for the collection and dissemination of information that will help organizations promote the establishment of such businesses; (4) provide financial assistance to public and private organizations so that they may provide technical and management assistance to such businesses; and (5) require minority business development plans to be developed by each Federal agency. Requires the head of each agency to furni…