summary
Introduced
07/22/2021
07/22/2021
In Committee
07/22/2021
07/22/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings asso- ciations may invest in small business investment compa- nies, subject to the approval of the appropriate Federal banking agency, and for other purposes.
AI Summary
This bill amends the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in Small Business Investment Companies (SBICs), subject to the approval of the appropriate Federal banking agency. Specifically, the bill allows banks and savings associations to invest up to 15% of their capital and surplus in SBICs, up from the previous limit of 5%. The "appropriate Federal banking agency" refers to the agency defined in the Federal Deposit Insurance Act, which oversees the safety and soundness of these financial institutions.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 07/22/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2451/all-info | 07/23/2021 |
| BillText | https://www.congress.gov/117/bills/s2451/BILLS-117s2451is.pdf | 07/29/2021 |
| Bill | https://www.congress.gov/117/bills/s2451/BILLS-117s2451is.pdf.pdf | 07/29/2021 |
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