3.0.0 3684 2023-01-11T13:18:02Z 2023-01-11T13:18:02Z House H HR 2009-09-30 111 hssm00 Small Business Committee House Standing hssm19 Finance and Tax Referred to 2009-09-30T14:01:43Z Referred to 2009-09-30T14:01:50Z 2009-09-30 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2009-09-30 hssm19 Finance and Tax 1 House committee actions Referred to the Subcommittee on Finance and Tax. Committee 2009-09-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-09-30 Introduced in House IntroReferral 1000 9 Library of Congress S001169 Rep. Sestak, Joe [D-PA-7] Joe Sestak D PA 7 N Commerce Appropriations Business investment and capital Executive agency funding and structure Financial services and investments Government information and archives Government lending and loan guarantees Government trust funds Manufacturing Securities Small Business Administration Small business Commerce 00 2009-09-30 Introduced in House 2009-12-11T22:31:48Z American Small Business Innovation Act - Amends the Small Business Investment Act of 1958 to require (under current law, authorizes) the Administrator of the Small Business Administration (SBA) to participate in the new markets venture capital program (a program under which investment companies provide capital financing to small businesses). Requires a report from the Administrator to Congress evaluating the success of the new markets venture capital program (program).

Requires the Administrator, in selecting companies for program participation, to approve at least one company from each SBA geographic region.

Requires each conditionally approved company engaged primarily in development of and investment in small manufacturers to raise at least $3 million in capital for such purposes from private investors.

Directs the SBA's Chief Counsel for Advocacy to study the availability of equity capital in low-income urban and rural areas.

Authorizes the Administrator to make grants to conditionally-approved companies for participation in the program.

Revises the program's operational assistance grant formula.

Reauthorizes appropriations to fund debenture guarantees and for operational assistance grants.

Establishes the Office of Angel Investment, headed by a Director, to provide support for the development of angel investment opportunities for small businesses.

Requires the Director to establish and carry out a program to provide financing to approved angel groups. Establishes an Angel Investment Fund.

Requires the Director to establish and maintain a searchable database to assist small businesses in identifying angel investors.

Requires the Director to establish and carry out a program to make grants for the development of new or existing angel groups and to increase awareness and education about angel investing.

]]> American Small Business Innovation Act Display Title American Small Business Innovation Act Official Title as Introduced To amend the Small Business Investment Act of 1958 to improve the New Markets Venture Capital Program and to establish an Angel Investment Program, and for other purposes. Introduced in House IH Short Titles as Introduced American Small Business Innovation Act Introduced in House 2009-09-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr3684ih/xml/BILLS-111hr3684ih.xml 2009-09-30 Referred to the House Committee on Small Business. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.