Title 15 — Commerce and Trade
Chapter 120 — Minority Business Development
§ 9593. Recordkeeping
Statutory text
In general
Each recipient of assistance under this chapter shall keep such records as the Under Secretary shall prescribe, including records that fully disclose, with respect to the assistance received by the recipient under this chapter—
the amount and nature of that assistance;
the disposition by the recipient of the proceeds of that assistance;
the total cost of the undertaking for which the assistance is given or used;
the amount and nature of the portion of the cost of the undertaking described in paragraph (3) that is supplied by a source other than the Agency;
the return on investment, as defined by the Under Secretary; and
any other record that will facilitate an effective audit with respect to the assistance.
Access by government officials
The Under Secretary, the Inspector General of the Department of Commerce, and the Comptroller General of the United States, or any duly authorized representative of any such individual, shall have access, for the purpose of audit, investigation, and examination, to any book, document, paper, record, or other material of the Agency or an MBDA Business Center.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Minority Business Development Act of 2021
Pub. L. 117–58 div. K title VII § 100703 · 135 Stat. 429
Enacted · 15 U.S.C. § 9593
(Pub. L. 117–58, div. K, title VII, § 100703, Nov. 15, 2021, 135 Stat. 1466.)
Source evidence
Code source credit
(Pub. L. 117–58, div. K, title VII, § 100703, Nov. 15, 2021, 135 Stat. 1466.)Enacted provision · exact public law section
SEC. 100703. RECORDKEEPING. (a) In General.— Each recipient of assistance under this division shall keep such records as the Under Secretary shall prescribe, including records that fully disclose, with respect to the assistance received by the recipient under this division— (1) the amount and nature of that assistance; (2) the disposition by the recipient of the proceeds of that assistance; (3) the total cost of the undertaking for which the assistance is given or used; (4) the amount and nature of the portion of the cost of the undertaking described in paragraph (3) that is supplied by a source other than the Agency; (5) the return on investment, as defined by the Under Secretary; and (6) any other record that will facilitate an effective audit with respect to the assistance. (b) Access by Government Officials.— The Under Secretary, the Inspector General of the Department of Commerce, and the Comptroller General of the United States, or any duly authorized representative of any such individual, shall have access, for the purpose of audit, investigation, and examination, to any book, document, paper, record, or other material of the Agency or an MBDA Business Center.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
This chapter, referred to in subsec. (a), was in the original “this division”, meaning div. K of Pub. L. 117–58, , 135 Stat. 1445, which is classified principally to this chapter. For complete classification of division K to the Code, see Short Title note set out under section 9501 of this title and Tables.