To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)
Investing in Main Street Act of 2017
(Sec. 2) This bill amends the Small Business Investment Act of 1958 to increase from 5% to 15% of its capital and surplus, the amount a national bank, a member bank of the Federal Reserve System, a nonmember insured bank (to the extent permitted under applicable state law), or a federal savings association may invest in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs. The increase is subject to the approval of the appropriate federal banking agency.
Message on House action received in Senate and at desk: House amendments to Senate bill.
Became Public Law No: 115-232.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported.
Reported by the Committee on Small Business. H. Rept. 115-216.
Reported by the Committee on Small Business. H. Rept. 115-216.
Placed on the Union Calendar, Calendar No. 152.
Mr. Chabot moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6181-6183)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2364.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6181-6182)
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On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6181-6182)
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.