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15 U.S.C. § 631aCongressional declaration of small business economic policy

submitted 46 years ago by Pub. L. 96-302 to r/title-15-COMMERCE-AND-TRADE · 261 words · no verdicts yet

in plain englishAI-generated · not legal advice

Congress declares a Federal policy of coordinating programs that support small-business interests, competition, capital, and entrepreneurship. It also requires private-sector incentives and investment programs for small businesses.

(a) The Federal Government must use practical means and necessary actions, consistent with its needs, obligations, and essential national policy, to coordinate Federal policies, programs, and activities that foster small-business economic interests; maintain a competitive climate for small-business development, growth, and expansion; provide incentives for adequate capital and resources at competitive prices; reduce concentration and expand competition; and provide opportunities for entrepreneurship, inventiveness, and creating and growing small businesses. (b) It must use reasonable means, consistent with national economic goals and the competitive private-enterprise system, to create private-sector incentives that make adequate capital available to small businesses at competitive prices, and must coordinate and sustain programs promoting small-business investment, including investment expanding employment and efficiently using human and natural resources.
the actual law source: uscode.house.gov ↗public domain
(a) Foster small business

For the purpose of preserving and promoting a competitive free enterprise economic system, Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practical means and to take such actions as are necessary, consistent with its needs and obligations and other essential considerations of national policy, to implement and coordinate all Federal department, agency, and instrumentality policies, programs, and activities in order to: foster the economic interests of small businesses; insure a competitive economic climate conducive to the development, growth and expansion of small businesses; establish incentives to assure that adequate capital and other resources at competitive prices are available to small businesses; reduce the concentration of economic resources and expand competition; and provide an opportunity for entrepreneurship, inventiveness, and the creation and growth of small businesses.

(b) Capital availability to small business

Congress further declares that the Federal Government is committed to a policy of utilizing all reasonable means, consistent with the overall economic policy goals of the Nation and the preservation of the competitive free enterprise system of the Nation, to establish private sector incentives that will help assure that adequate capital at competitive prices is available to small businesses. To fulfill this policy, departments, agencies, and instrumentalities of the Federal Government shall use all reasonable means to coordinate, create, and sustain policies and programs which promote investment in small businesses, including those investments which expand employment opportunities and which foster the effective and efficient use of human and natural resources in the economy of the Nation.

Source credit: (Pub. L. 96–302, title III, § 302, July 2, 1980, 94 Stat. 848.)

history & why it existsrecord from the source credit
  • 1980Enacted · Pub. L. 96-302 · 94 Stat. 848

A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-302 on 1980-07-02.

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