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.
Investing in Main Street Act of 2019
This bill amends the Small Business Investment Act of 1958 to permit certain banking entities, subject to the approval of the appropriate federal banking agency, to invest up to 15% of their capital and surplus in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs.
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 Small Business.
Ms. Velazquez moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H522-524)
DEBATE - The House proceeded with forty minutes of debate on H.R. 116.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H534)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 403 - 2 (Roll no. 30).(text: CR H522)
Roll Call #30 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 403 - 2 (Roll no. 30). (text: CR H522)
Roll Call #30 (House)Motion to reconsider laid on the table Agreed to without objection.
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Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.