Investing in All of America Act of 2023 2024-04-29 Passed House Investing in All of America Act of 2023

This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.

Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill also includes in the amounts that may be excluded from the calculation of the financing limit the amounts an SBIC invests in small businesses in rural areas or areas of critical technology. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC. The bill indexes the limit to inflation.

Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested in the trust or endowment of a college or university.

The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.

]]> 2024-04-26 Reported to House Investing in All of America Act of 2023

This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.

Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill also includes in the amounts that may be excluded from the calculation of the financing limit the amounts an SBIC invests in small businesses in rural areas or areas of critical technology. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC. The bill indexes the limit to inflation.

Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested in the trust or endowment of a college or university.

The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.

]]> 2023-09-01 Introduced in House Investing in All of America Act of 2023

This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA).

Specifically, the bill includes amounts the SBIC invests in small businesses in rural areas or areas of critical technology as amounts that may be excluded (up to an aggregate of 50% of the private capital of the SBIC) from the calculation of the SBIC's financing limit. The bill also indexes the limit to inflation.

The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.

]]> 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 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.