summary
Introduced
06/26/2019
06/26/2019
In Committee
06/26/2019
06/26/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill 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 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.
AI Summary
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 (as defined in the Federal Deposit Insurance Act), 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. The goal is to increase the amount that certain banks and savings associations may invest in SBICs, which are companies that provide venture capital financing to small businesses.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 06/26/2019)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/1994/all-info | 06/27/2019 |
| BillText | https://www.congress.gov/116/bills/s1994/BILLS-116s1994is.pdf | 07/04/2019 |
| Bill | https://www.congress.gov/116/bills/s1994/BILLS-116s1994is.pdf.pdf | 07/04/2019 |
Loading...