3.0.0 1831 2023-01-11T13:17:43Z 2023-01-11T13:17:43Z Senate S S 2009-10-21 111 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2009-10-21T20:57:07Z 2009-10-21 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2009-10-21 Sponsor introductory remarks on measure. (CR S10643) IntroReferral B00100 9 Library of Congress 2009-10-21 Introduced in Senate IntroReferral 10000 9 Library of Congress K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES N Commerce Business investment and capital Executive agency funding and structure Government information and archives Manufacturing Minority and disadvantaged businesses Small Business Administration Small business Women in business Commerce 00 2009-10-21 Introduced in Senate 2010-02-04T21:10:41Z Small Business Venture Capital Act of 2009 - Amends the Small Business Act to reauthorize for FY2010-FY2013 the venture capital program under the Small Business Investment Act of 1958 (a program under which small business investment companies (SBICs) provide capital financing to small businesses).

Increases the maximum amounts of outstanding leverage made available to SBICs that invest in women-owned or minority businesses.

Allows SBICs who were licensed as participating securities SBICs prior to October 1, 2004, to obtain leverage based on Small Business Administration (SBA)-approved commitments rather than paid-in capital.

Increases from 20% to 30% of total available private capital the maximum authorized SBIC investment in a single business (absent specific SBA approval).

Requires the SBA Administrator, in selecting investment companies to participate in the New Markets Venture Capital program (NMVC program) (investment in small businesses in low-income areas), to select at least one company from each SBA geographic region.

Requires the Administrator to have as a goal to enter into at least one NMVC program agreement with a company engaged primarily in the development of and investment in small manufacturers.

Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital.

Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code.

Requires the Administrator to prescribe standard documents for an application for final approval of a company under the NMVC program.

Allows NMVC companies to receive operational assistance grants. Requires the Administrator to grant each conditionally-approved NMVC company up to two years to raise the $5 million in private capital required for participation.

Reauthorizes the NMVC program for FY2010-FY2013. Reduces the authorization for operational assistance grants.

]]> Small Business Venture Capital Act of 2009 Display Title Small Business Venture Capital Act of 2009 Official Title as Introduced A bill to amend the Small Business Investment Act of 1958 to reauthorize the venture capital program, and for other purposes. Introduced in Senate IS Short Titles as Introduced Small Business Venture Capital Act of 2009 Introduced in Senate 2009-10-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1831is/xml/BILLS-111s1831is.xml 2009-10-21 Read twice and referred to the Committee on Small Business and Entrepreneurship. 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.