Road to The Floor
How it worksIntroduced
In Committee
On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis bill changes the rules for Small Business Investment Companies (SBICs), which are companies that get funding from the Small Business Administration to invest in small businesses. It lowers how much government financing an SBIC can receive compared to its own private money, but raises the total dollar cap for groups of related SBICs that make regular interest payments. The bill also lets SBICs exclude certain investments from their financing limits, specifically investments in rural areas, certain technology fields, or small manufacturers. Finally, it broadens what counts as an SBIC's private money to include funds from additional government-sponsored corporations and from college or university trust or endowment funds.
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