(a) There is hereby established a Commission for the Preservation of Small Businesses for the purpose of providing assistance to small businesses, as defined in Title 11, section 1252 of this Code, in order to prevent them from closing. The Commission shall consist of five members appointed by the Board of Directors. Each agency head may designate a representative from that agency to represent him on the Commission. The Commission shall function within the Economic Development Bank for administrative purposes. The Commission shall select a chairman from among its members.
(b) The Commission shall have the powers and authority necessary to carry out the duties imposed upon it by this section, including, but not limited to, requesting and obtaining from any government agency, board, authority, commission or agency such statistical data, program reports, and other materials, information and assistance deemed necessary to carry out its responsibilities under this section.
(c) Each government agency, board, authority, commission or agency is authorized to report to the Commission characteristics that are indicative of problems within a business, including but not limited to: delinquent tax payments, delinquent loan payments; unpaid workers compensation and unemployment compensation benefits; expired business licenses, and unpaid utility and telephone bills. No report shall be submitted to the Commission without the written consent of the owner.
(d) Any small business owner requiring assistance under this section shall write to the Commission requesting a review and evaluation of his business, and explaining the nature of the business, the financial condition of the business, and the type of assistance he believes is needed to prevent the business from closing. After reviewing the request and any other necessary information, and after evaluating the business, the Commission shall formulate a plan to help prevent the closure of the business. The plan may include assistance in the form of (1) tax waiver or reduction, (2) waiver or reduction of fees, penalties and/or interests, (3) assistance in restructuring or refinancing of debt, (4) assistance in obtaining additional working capital, and/or (5) the provision of managerial and technical assistance. No government department, board, authority, commission or agency shall commence or pursue any enforcement action for past due fees and taxes against a business with a work-out plan in place if the business has applied for assistance, pursuant to this section.
(e) Upon receipt of a request for assistance from the owner of a small business, the Commission shall meet immediately to review and evaluate the business and formulate a plan of action for the business.