H.R. 3219 · 112th Congress
Small Business Investment Company Modernization Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ChabotSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Investment Company Modernization Act of 2011 - Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage that the Small Business Administration (SBA) is authorized to make available to any one small business investment company (SBIC), as a condition to the SBA's purchase or guarantee of debentures…
What it does: CRS summary · Introduced in House · Oct 14, 2011
Small Business Investment Company Modernization Act of 2011 - Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage that the Small Business Administration (SBA) is authorized to make available to any one small business investment company (SBIC), as a condition to the SBA's purchase or guarantee of debentures or participating securities issued by certain licensed SBICs, if a majority of the managers of a company are experienced in managing at least one such SBIC. Increases the maximum leverage amount for such SBICs to the lesser of: (1) 300% of such company's private capital, or (2) $200 million. (Current law, subject to exceptions, prohibits the maximum amount of such leverage from exceeding the lesser of 300% of private capital or $150 million for any SBIC.)
Increases to $350 million (currently, $225 million) the maximum amount of outstanding leverage that may be made available to two or more SBICs that are commonly controlled and not under capital impairment. Prohibits the material capital impairment of one licensed company in a group under common control from reducing the maximum amounts of outstanding leverage that is made available to the other licensed companies in that group.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Investment Company Modernization Act of 2011
Latest action (Oct 14, 2011): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Oct 14, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.