To amend the Investment Company Act of 1940 to provide incentives for small business investment, and for other purposes.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an "eligible portfolio company," for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or traded through the facilities of a national securities association; or (2) has an aggregate value of outstanding publicly traded equity securities of not more than $250 million. Allows the Securities and Exchange Commission to adjust such amount consistent with the public interest, protection of investors, and the public purpose.
Includes as an eligible business development company, also for such purposes, an investment company: (1) without any such class of equity securities; or (2) that is not an eligible portfolio company because the aggregate value of its outstanding publicly traded equity securities is more than $250 million but not more than $500 million, as long as such securities represent no more than ten percent of the total invested assets of the company.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mrs. Kelly moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H1790-1791)
DEBATE - The House proceeded with forty minutes of debate on H.R. 436.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H1790)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H1790)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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