3.0.0 1759 2023-01-11T13:50:06Z 2023-01-11T13:50:06Z Senate S 2021-05-20 117 sssb00 Small Business and Entrepreneurship Committee Senate Standing Hearings by 2021-10-27T20:59:38Z Hearings by 2021-06-09T19:53:27Z Referred to 2021-05-20T18:55:04Z MicroCap Small Business Investing Act of 2021 117 3842 HR 2021-06-11 Referred to the House Committee on Small Business. Identical bill CRS 2021-10-27 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Hearings held. Committee 2021-06-09 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Hearings held. Committee 2021-05-20 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2021-05-20 Introduced in Senate IntroReferral 10000 9 Library of Congress H000273 Sen. Hickenlooper, John W. [D-CO] John Hickenlooper D CO W. N R000584 Sen. Risch, James E. [R-ID] James Risch R ID E. 2021-05-20 True S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2021-09-29 False C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2021-09-29 False Commerce Business investment and capital Economic development Financial services and investments Government information and archives Licensing and registrations Manufacturing Minority and disadvantaged businesses Poverty and welfare assistance Research and development Rural conditions and development Small business Commerce 00 2021-05-20 Introduced in Senate 2021-10-21T17:03:27Z MicroCap Small Business Investing Act of 2021

This bill authorizes the Small Business Administration (SBA) to issue up to ten Small Business Investment Company (SBIC) licenses each year to certain applicants. An SBIC is a privately owned company, licensed and regulated by the SBA, which invests in small businesses through debt and equity.

A license issued under the bill must be awarded to an applicant

  • that would otherwise be issued a license except that the management of the applicant does not satisfy certain qualification requirements such as investment experience;
  • where the fund managers have a documented record of successful business experience, a record of business management success, or knowledge in the particular industry or business in which the investment strategy is being pursued; and
  • that will make at least 25% of its investments in specified areas and businesses (e.g., low-income communities, businesses owned or controlled by individuals in underserved communities, and rural areas).

The SBA must prioritize applicants that are located in states with fewer licenses and establish a streamlined application process for those licenses.

]]> MicroCap Small Business Investing Act of 2021 Display Title MicroCap Small Business Investing Act of 2021 Official Title as Introduced A bill to establish a MicroCap small business investment company designation, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced MicroCap Small Business Investing Act of 2021 Introduced in Senate IS Introduced in Senate 2021-05-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1759is/xml/BILLS-117s1759is.xml 2021-10-27 Committee on Small Business and Entrepreneurship. Hearings held. 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.