H.R. 5225 · 117th Congress
Micro-SBIC and Emerging Managers Program Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HoulahanSponsorNo cosponsors.
This bill establishes programs for the Small Business Administration (SBA) to (1) issue certain applicants a license to operate a Small Business Investment Company (SBIC) and (2) provide assistance to SBICs operated by emerging managers.
What it does: CRS summary · Introduced in House · Sep 10, 2021
Micro-SBIC and Emerging Managers Program Act of 2021
This bill establishes programs for the Small Business Administration (SBA) to (1) issue certain applicants a license to operate a Small Business Investment Company (SBIC) and (2) provide assistance to SBICs operated by emerging managers. An SBIC is a privately owned company, licensed and regulated by the SBA, which invests in small businesses through debt and equity.
First, the bill lowers the threshold to receive an SBIC license to include applicants that hold private capital of at least $5 million and have significant business expertise relevant to the applicant's investment strategy. The bill also sets limits on the amount of financing these SBICs may receive from the SBA.
Additionally, the bill allows managers with substantial experience operating SBICs to enter an agreement, approved by the SBA, to provide guidance and assistance to SBIC applicants that are managed by at least two emerging managers who have an investment record of less than 10 years or who focus on underserved markets.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Micro-SBIC and Emerging Managers Program Act of 2021
Latest action (Sep 10, 2021): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Sep 10, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.