PUBLIC LAW 100-656—NOV. 15, 1988 102 STAT. 3877

"(II) the disadvantage*! owners will maintain ownership
of the largest single outstanding block of voting stock
(including stock held by affiliated parties); and

"(III) the disadvantaged owners will maintain control of
daily business operations.

"(C) Concerns performing contracts awarded pursuant to this
subsection shall be required to notify the Administration imme-
diately upon entering an agreement (either oral or in writing) to
transfer all or part of its stock or other ownership interest to any
other party.

"(D) Notwithstanding any other provision of law, for the purposes
of determining ownership and control of a concern under this
section, any potential ownership interests held by investment
companies licensed under the Small Business Investment Act of
1958 shall be treated in the same manner as interests held by the
individuals upon whom eligibility is based.".

SEC. 408. DATA COLLECTION.

Section 7(j) of the Small Business Act (15 U.S.C. 636(j)) is further
amended by adding the following new paragraph:

"(16)(A) The Administrator shall develop and implement a process
for the systematic collection of data on the operations of the Pro-
gram established pursuant to paragraph (10).

"(B) Not later than April 80 of each year, the Administrator shall Reports.
submit a report to the Congress on the Program that shall include
the following:

"(i) The average personal net worth of individuals who own
and control concerns that were initially certified for participa-
tion in the Program during the immediately preceding fiscal
year. The Administrator shall also indicate the dollar distribu-
tion of net worths, at $50,000 increments, of all such individuals
found to be socially and economically disadvantaged. For the
first report required pursuant to this paragraph the Adminis-
trator shall also provide the data specified in the preceding
sentence for all eligible individuals in the Program as of the
effective date of this paragraph.

"(ii) A description and estimate of the benefits and costs that
have accrued to the economy and the Government in the imme-
diately preceding fiscal year due to the operations of those
business concerns that were performing contracts awarded
pursuant to section 8(a).

"(iii) A compilation and evaluation of those business concerns
that have exited the Program during the immediately preceding
three fiscal years. Such compilation and evaluation shall detail
the number of concerns actively engaged in business operations,
those that have ceased or substantially curtailed such oper-
ations, including the reasons for such actions, and those con-
cerns that have been acquired by other firms or organizations
owned and controlled by other than socially and economically
disadvantaged individuals. For those businesses that have
continued operations after they exited from the Program, the
Administrator shall also separately detail the benefits and costs
that have accrued to the economy during the immediately
preceding fiscal year due to the operations of such concerns.
"(iv) A listing of all participants in the Program during the
preceding fiscal year identifying, by State and by Region, for
each firm: the name of the concern, the race or ethnicity, and