3.0.0 3717 2025-12-05T09:07:47Z 2025-12-05T09:07:47Z House H HR 2023-05-25 118 https://www.congress.gov/bill/118th-congress/house-bill/3717 <pre>[Congressional Record Volume 169, Number 89 (Thursday, May 25, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. NEGUSE:H.R. 3717.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8The single subject of this legislation is:To establish a MicroCap small business investment companydesignation.[Page H2641]</pre> hssm00 Small Business Committee House Standing Referred To 2023-05-25T13:07:25Z 118 1157 S 2023-03-30 Read twice and referred to the Committee on Small Business and Entrepreneurship. Identical bill CRS 2023-05-25 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2023-05-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-05-25 Introduced in House IntroReferral 1000 9 Library of Congress N000191 Rep. Neguse, Joe [D-CO-2] Joe Neguse D CO 2 N K000397 Rep. Kim, Young [R-CA-40] Young Kim R CA 40 2023-05-25 True Commerce Commerce 2023-06-22T15:30:26Z

00 2023-05-25 Introduced in House 2023-07-25T19:20:10Z <p><b>MicroCap Small Business Investing Act of 2023</b></p> <p>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.</p> <p>A license issued under the bill must be awarded to an applicant</p> <ul> <li>that would otherwise be issued a license except that the management of the applicant does not satisfy certain qualification requirements such as investment experience;</li> <li>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</li> <li>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). </li> </ul> <p>The SBA must prioritize applicants that are located in states with fewer licenses and establish a streamlined application process for those licenses.</p>

Display Title 45 2024-07-24T15:21:51Z Short Title(s) as Introduced 101 2024-05-24T13:39:20Z Introduced in House IH Official Title as Introduced 6 2024-03-18T20:53:58Z Introduced in House IH Introduced in House 2023-05-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr3717ih/xml/BILLS-118hr3717ih.xml 2023-05-25 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.