S. 1923 · 109th Congress
Small Business Investment and Growth Act of 2005
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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
SnoweSponsor8 cosponsors · 8 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Investment and Growth Act of 2005 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the: (1) payment of the redemption price and interest on a participating debenture issued by a small business investment company (SBIC), or a trust certificate issued with…
What it does: CRS summary · Introduced in Senate · Oct 26, 2005
Small Business Investment and Growth Act of 2005 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the: (1) payment of the redemption price and interest on a participating debenture issued by a small business investment company (SBIC), or a trust certificate issued with respect to such a debenture; and (2) repayment of funds advanced by an interim funding provider in the event of a default by an SBIC. Authorizes the SBA to charge a guarantee fee in each of the above cases. 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 distribution 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: Small Business Investment and Growth Act of 2005
Latest action (Oct 26, 2005): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Oct 26, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.