S. 1058 · 117th Congress
Rural Capital Access Act
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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.
R
ThuneSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs.
What it does: CRS summary · Introduced in Senate · Mar 25, 2021
Rural Capital Access Act
This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs.
The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rural Capital Access Act
Latest action (Mar 25, 2021): Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)
Policy area: Commerce · Origin: Senate · Introduced: Mar 25, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.