S. 1396 · 109th Congress
Increased Capital Access for Growing Business Act
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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
AllenSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an "eligible portfolio company," for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or…
What it does: CRS summary · Introduced in Senate · Jul 14, 2005
Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an "eligible portfolio company," for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or traded through the facilities of a national securities association; or (2) has an aggregate value of outstanding publicly traded equity securities of not more than $250 million. Allows the Securities and Exchange Commission to adjust such amount consistent with the public interest, protection of investors, and the public purpose.
Includes as an eligible business development company, also for such purposes, an investment company: (1) without any such class of equity securities; or (2) that is not an eligible portfolio company because the aggregate value of its outstanding publicly traded equity securities is more than $250 million but not more than $500 million, as long as such securities represent no more than ten percent of the total invested assets of the company.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Increased Capital Access for Growing Business Act
Latest action (Jul 14, 2005): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 14, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.