Page:United States Statutes at Large Volume 94 Part 1.djvu/900

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PUBLIC LAW 96-000—MMMM. DD, 1980

94 STAT. 850

Annual report, publication.

44 FR 58671. 5 USC 5315.

Credit-need studies, report to Congress.

Referral to congressional committees.

Small Business Employee Ownership Act of 1980. 15 USC 631 note. Findings and declaration. 15 USC 636 note.

PUBLIC LAW 96-302—JULY 2, 1980 "(v) back orders; "(vi) investment in plant and equipment; "(vii) changes in inventory and rate of inventory turnover; "(viii) sources and amounts of capital investment, including debt, equity, and internally generated funds; "(ix) debt to equity ratios; "(x) exports; "(xi) number and dollar amount of mergers and acquisitions by size of acquiring and acquired firm; and "(xii) concentration ratios; and "(B) publishing annually a report giving a comparative analysis and interpretation of the historical trends of the small business sector as reflected by the data acquired pursuant to subparagraph (A) of this subsection.". SEC. 402. Section 634d(l) of title 15, United States Code, is amended by striking the word "Schedule;" and inserting in lieu thereof "Schedule: Provided, however, That not more than ten staff personnel at any one time may be employed and compensated at a rate not in excess of GS-15, step 10, of the General Schedule;". SEC. 403. Section 5315 of title 5 of the United States Code is amended by adding the following new paragraph: "(128) Chief Counsel for Advocacy, Small Business Administration.". SEC. 404. In consultation with the Administrator of the Small Business Administration and the Bureau of the Census, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation shall conduct such studies of the credit needs of smgdl business as may be appropriate to determine the extent to which such needs are being met by commercial banks and shall report the results of such studies to the Congress by January 1, 1982, together with their views and recommendations as to the feasibility and cost of conducting periodic sample surveys, by region and nationwide, of the number and dollar amount of commercial and industrial loans extended by commercial banks to small business. Reports shall, when transmitted to the Congress, be referred to the Senate Select Committee on Small Business and the Committee on Small Business of the House of Representatives. TITLE V—EMPLOYEE OWNERSHIP SEC. 501. This title may be cited as the "Small Business Employee Ownership Act of 1980". SEC. 502. The Congress hereby finds and declares that— (1) employee ownership of firms provides a means for preserving jobs and business activity; (2) employee ownership of firms provides a means for keeping a small business small when it might otherwise be sold to a conglomerate or other large enterprise; (3) employee ownership of firms provides a means for creating a new small business from the sale of a subsidiary of a large enterprise; (4) unemployment insurance programs, welfare payments, and job creation programs are less desirable and more costly for both the Government and program beneficiaries than loan guarantee programs to maintain employment in firms that would otherwise be closed, liquidated, or relocated; and