H.R. 3429 · 109th Congress
To amend the Small Business Investment Act of 1958 to establish a participating debenture program.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ManzulloSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of the redemption price and interest on a participating debenture issued by a small business investment company (SBIC).
What it does: CRS summary · Introduced in House · Jul 26, 2005
Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of the redemption price and interest on a participating debenture issued by a small business investment company (SBIC). Prohibits the Administrator from guaranteeing such a debenture if the aggregate unpaid principal balance of the participating debentures would exceed 200% of the leverageable capital of the SBIC. Requires participating debentures to be redeemed within ten years after issuance. Outlines requirements of SBIC participants, including after default on debenture payment.
Allows an SBIC which has no unpaid interest and no past due principal outstanding on any issued participating debenture the right of special distributions to private investors without a corresponding distribution to the SBA, under specified conditions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Small Business Investment Act of 1958 to establish a participating debenture program.
Latest action (Jul 27, 2005): Committee Hearings Held.
Policy area: Commerce · Origin: House · Introduced: Jul 26, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.