13 U.S.C. § 91 — Collection and publication

submitted 43 years ago by Pub. L. 97-454 to r/title-13-CENSUS · 440 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Secretary must collect and publish quarterly financial statistics on business sales, expenses, profits, and other financial data. This follows the same program the FTC ran before this section took effect. The Secretary must limit the burden on small businesses and can't survey the same company too often.

(a) The Secretary must collect and publish quarterly financial statistics about business operations — organization, practices, management, and how businesses relate to each other — including data on sales, expenses, profits, assets, liabilities, stockholders' equity, and similar income-statement and balance-sheet measures. (b) Unless the Secretary decides otherwise because circumstances have changed, the kind of statistics collected and published, and how they are collected and published, must match the quarterly financial reporting program the Federal Trade Commission ran under section 6(b) of the Federal Trade Commission Act before this section took effect. (c) For purposes of section 6103(j)(1) of the Internal Revenue Code of 1986, running this quarterly financial report program counts as running a related statistical activity authorized by law. (d) (1) The Secretary may not select a business for a survey if: it has assets under $50,000,000, took part in a prior survey within the last 10 years, and was selected for that earlier survey after September 30, 1990; or it has assets between $50,000,000 and $100,000,000, took part in a prior survey within the last 2 years, and was selected for that earlier survey after September 30, 1995. (2) The Secretary must give advice and similar help to ease the burden on small businesses trying to compile the required information, including setting up a toll-free phone number, and must expand the use of statistical sampling to choose businesses with under $100,000,000 in assets for the survey. (3) The Secretary may take other steps to reduce paperwork burdens in running the survey, as the Secretary sees fit. (4) A "small business concern" is a business meeting the requirements of section 3(a) of the Small Business Act and its regulations. "Survey" means the Secretary's collection of information under this section to prepare the "Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations."

the actual law source: uscode.house.gov ↗public domain

(a)

The Secretary shall collect and publish quarterly financial statistics of business operations, organization, practices, management, and relation to other businesses, including data on sales, expenses, profits, assets, liabilities, stockholders’ equity, and related accounts generally used by businesses in income statements, balance sheets, and other measures of financial condition.

(b)

Except to the extent determined otherwise by the Secretary on the basis of changed circumstances, the nature of statistics collected and published under this section, and the manner of the collection and publication of such statistics, shall conform to the quarterly financial reporting program carried out by the Federal Trade Commission before the effective date of this section under section 6(b) of the Federal Trade Commission Act.

(c)

For purposes of section 6103(j)(1) of the Internal Revenue Code of 1986, the conducting of the quarterly financial report program under this section shall be considered as the conducting of a related statistical activity authorized by law.

(d)

(1)

The Secretary shall not select an organization or entity for participation in a survey, if—

(A)

the organization or entity—

(i)

has assets of less than $50,000,000;

(ii)

completed participation in a prior survey in the preceding 10-year period, as determined by the Secretary; and

(iii)

was selected for that prior survey participation after September 30, 1990; or

(B)

the organization or entity—

(i)

has assets of more than $50,000,000 and less than $100,000,000;

(ii)

completed participation in a prior survey in the preceding 2-year period, as determined by the Secretary; and

(iii)

was selected for that prior survey participation after September 30, 1995.

(2)

(A)

The Secretary shall furnish advice and similar assistance to ease the burden of a small business concern which is attempting to compile and furnish the business information required of organizations and entities participating in the survey.

(B)

To facilitate the provision of the assistance under subparagraph (A), the Secretary shall establish a toll-free telephone number.

(C)

The Secretary shall expand the use of statistical sampling techniques to select organizations and entities having assets less than $100,000,000 to participate in the survey.

(3)

The Secretary may undertake such additional paperwork burden reduction initiatives with respect to the conduct of the survey as may be deemed appropriate by the Secretary.

(4)

For purposes of this subsection:

(A)

The term “small business concern” means a business concern that meets the requirements of section 3(a) of the Small Business Act and the regulations promulgated pursuant thereto.

(B)

The term “survey” means the collection of information by the Secretary pursuant to this section for the purpose of preparing the publication entitled “Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations”.

Source credit: (Added Pub. L. 97–454, § 1(a)(2), Jan. 12, 1983, 96 Stat. 2494; amended Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 104–13, § 3, May 22, 1995, 109 Stat. 184.)

history & why it existsrecord from the source credit

1983Enacted · Pub. L. 97-454 · 96 Stat. 2494
1986Amended · Pub. L. 99-514 · 100 Stat. 2095
1995Amended · Pub. L. 104-13 · 109 Stat. 184

A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-454 on 1983-01-12.

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