H.R. 5333 · 118th Congress
Investing in All of America Act of 2023
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 118th Congress ended.
R
MeuserSponsor15 cosponsors · 5 D, 10 R
D
Scholten
DD
D
Davis
MA
R
Alford
YK
R
Kim
SD
D
Davids
BL
R
Luetkemeyer
ZZ
R
(Zach) Nunn
AB
R
Barr
JG
D
Gottheimer
GL
D
Landsman
AG
R
Garbarino
BD
R
Donalds
EH
R
Houchin
NL
R
LaLota
BF
R
Fitzpatrick1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Sep 1, 2023
- House Passed Apr 29, 2024
This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.
What it does: CRS summary · Passed House · Apr 29, 2024
Investing in All of America Act of 2023
This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.
Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill also includes in the amounts that may be excluded from the calculation of the financing limit the amounts an SBIC invests in small businesses in rural areas or areas of critical technology. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC. The bill indexes the limit to inflation.
Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested in the trust or endowment of a college or university.
The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Investing in All of America Act of 2023
Latest action (Apr 30, 2024): Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: House · Introduced: Sep 1, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Sep 1, 2023
- House Passed Apr 29, 2024
No recorded floor vote found.