To amend the Small Business Investment Act of 1958 to exclude from the limit on leverage certain amounts invested in smaller enterprises located in rural or low-income areas and small businesses in critical technology areas, and for other purposes.
Investing in All of America Act of 2023
This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.
Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill also includes in the amounts that may be excluded from the calculation of the financing limit the amounts an SBIC invests in small businesses in rural areas or areas of critical technology. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC. The bill indexes the limit to inflation.
Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested in the trust or endowment of a college or university.
The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.
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 in the Nature of a Substitute by the Yeas and Nays: 23 - 0.
Reported (Amended) by the Committee on Small Business. H. Rept. 118-469.
Reported (Amended) by the Committee on Small Business. H. Rept. 118-469.
Placed on the Union Calendar, Calendar No. 388.
Mr. Williams (TX) moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2639-2642)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5333.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2640)
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2640)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.