Spurring Business in Communities Act of 2018

A bill to amend the Small Business Investment Act of 1958 to improve the number of small business investment companies in underlicensed States, and for other purposes.

Subjects

Commerce

Summary

Spurring Business in Communities Act of 2018

(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:

require the Small Business Administration (SBA), in reviewing and processing an entity's application to become a small business investment company (SBIC), to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and
exempt applicants in underlicensed states from certain SBA capital requirements.

Full Text

Related Legislation

H.R. 4111Spurring Business in Communities Act of 2017
2018-12-19Became Public Law No: 115-333.
Related

Legislative Actions

2017-10-24
Introduced in Senate
2017-10-24
Read twice and referred to the Committee on Small Business and Entrepreneurship.
2018-03-14
Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
2018-03-19
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment. Without written report.
2018-03-19
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment. Without written report.
2018-03-19
Placed on Senate Legislative Calendar under General Orders. Calendar No. 350.
2018-12-20
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-449.
2018-12-20
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-449.

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