116 HR 116 IH: Investing in Main Street Act of 2019 U.S. House of Representatives 2019-01-03 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I116th CONGRESS1st SessionH. R. 116IN THE HOUSE OF REPRESENTATIVESJanuary 3, 2019Ms. Judy Chu of California (for herself and Mr. Norman) introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.

1.

Short title

This Act may be cited as the Investing in Main Street Act of 2019.

2.

Investment in small business investment companies

Section 302(b) of the Small Business Investment Act of 1958 (15 U.S.C. 682(b)) is amended— (1)in paragraph (1), by inserting before the period the following: or, subject to the approval of the appropriate Federal banking agency, 15 percent of such capital and surplus; (2)in paragraph (2), by inserting before the period the following: or, subject to the approval of the appropriate Federal banking agency, 15 percent of such capital and surplus; and (3)by adding at the end the following: (3)

Appropriate federal banking agency defined

For purposes of this subsection, the term appropriate Federal banking agency has the meaning given that term under section 3 of the Federal Deposit Insurance Act..