summary
Introduced
01/18/2018
01/18/2018
In Committee
01/18/2018
01/18/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Small Business Credit Availability Act
AI Summary
This bill, the Small Business Credit Availability Act, aims to amend the Investment Company Act of 1940 to change certain requirements relating to the capital structure of business development companies (BDCs) and to direct the Securities and Exchange Commission (SEC) to revise certain rules relating to BDCs. Specifically, it would allow BDCs to increase their asset coverage requirements from 200% to 150% if certain disclosure and shareholder approval requirements are met. The bill also directs the SEC to revise its securities offering and proxy rules to allow BDCs to use the same rules as other public companies, such as removing their exclusion from definitions of "well-known seasoned issuer" and allowing them to file automatic shelf offerings.
Committee Categories
Housing and Urban Affairs
Sponsors (18)
Dean Heller (R)*,
Michael Bennet (D),
Ben Cardin (D),
Bob Casey (D),
Joe Donnelly (D),
Heidi Heitkamp (D),
Joe Manchin (I),
Bob Menendez (D),
Bill Nelson (D),
Gary Peters (D),
Jim Risch (R),
Mike Rounds (R),
Tim Scott (R),
Jeanne Shaheen (D),
Debbie Stabenow (D),
Jon Tester (D),
Thom Tillis (R),
Pat Toomey (R),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 01/18/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/2324/all-info |
| BillText | https://www.congress.gov/115/bills/s2324/BILLS-115s2324is.pdf |
| Bill | https://www.congress.gov/115/bills/s2324/BILLS-115s2324is.pdf.pdf |
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