[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3219 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3219

  To amend the Small Business Investment Act of 1958 with respect to 
      small business investment companies, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 14, 2011

  Mr. Chabot introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Investment Act of 1958 with respect to 
      small business investment companies, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Investment Company 
Modernization Act of 2011''.

SEC. 2. MAXIMUM LEVERAGE.

    Section 303(b)(2) of the Small Business Investment Act of 1958 (15 
U.S.C. (b)(2)) is amended by striking so much of paragraph (2) as 
precedes subparagraph (C) and inserting the following:
            ``(2) Maximum leverage.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), the maximum amount of outstanding 
                leverage made available to any one company licensed 
                under section 301(c) of this Act may not exceed the 
                lesser of--
                            ``(i) 300 percent of such company's private 
                        capital; or
                            ``(ii) $150,000,000.
                    ``(B) Certain single companies.--Beginning after 
                the date of enactment of this subparagraph, if a 
                majority of the managers of a company are experienced 
                in managing one or more companies licensed under 
                section 301(c) of this Act (as determined by the 
                Administrator), the maximum amount of outstanding 
                leverage made available to that company may not exceed 
                the lesser of--
                            ``(i) 300 percent of such company's private 
                        capital; or
                            ``(ii) $200,000,000.
                    ``(C) Multiple licensees under common control.--The 
                maximum amount of out standing leverage made available 
                to two or more companies licensed under section 301(c) 
                of this Act that are commonly controlled (as determined 
                by the Administrator) and not under capital impairment 
                may not exceed $350,000,000, but the material capital 
                impairment of one licensed company in a group under 
                common control shall not reduce the maximum amounts of 
                outstanding leverage that is made available to the 
                other licensed companies in that group under common 
                control.''.
                                 <all>