H.R. 6342 · 116th Congress
SBIC Capital Infusion Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DavidsSponsorNo cosponsors.
This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program.
What it does: CRS summary · Introduced in House · Mar 23, 2020
SBIC Capital Infusion Act of 2020
This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program.
Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes.
The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SBIC Capital Infusion Act of 2020
Latest action (Mar 23, 2020): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Mar 23, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.