H.R. 1491 · 111th Congress
Securing Equity for the Economic Development of Low Income Areas Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MooreSponsor3 cosponsors · 2 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Securing Equity for the Economic Development of Low Income Areas Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA), in selecting companies to participate in the New Markets Venture Capital Program (Program), to select at least one company from each geographic region of the…
What it does: CRS summary · Introduced in House · Mar 12, 2009
Securing Equity for the Economic Development of Low Income Areas Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA), in selecting companies to participate in the New Markets Venture Capital Program (Program), to select at least one company from each geographic region of the SBA. Requires (current law authorizes) the Administrator to make grants to such companies to be used for loans to new-market small businesses, and to guarantee debentures issued by such companies.
Establishes the Office of New Markets Venture Capital, headed by a Director, to administer the Program.
Revises the definition of "low income geographic area" for Program eligibility purposes.
Requires a study by the SBA's Chief Counsel for Advocacy on the availability of equity capital in low-income urban and rural areas.
Authorizes operational assistance grants to conditionally approved companies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Securing Equity for the Economic Development of Low Income Areas Act of 2009
Latest action (Mar 12, 2009): Referred to the Subcommittee on Finance and Tax.
Policy area: Commerce · Origin: House · Introduced: Mar 12, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.