[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 511 Reported in Senate (RS)]

                                                       Calendar No. 168
113th CONGRESS
  1st Session
                                 S. 511

                          [Report No. 113-90]

To amend the Small Business Investment Act of 1958 to enhance the Small 
      Business Investment Company Program, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 11, 2013

 Ms. Landrieu (for herself, Mr. Cardin, and Mr. Cowan) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Small Business and Entrepreneurship

                           September 10, 2013

              Reported by Ms. Landrieu, with an amendment
                     [Omit the part struck through]

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Investment Act of 1958 to enhance the Small 
      Business Investment Company Program, 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 ``Expanding Access to Capital for 
Entrepreneurial Leaders Act'' or the ``EXCEL Act''.

SEC. 2. PROGRAM AUTHORIZATION.

    Section 303(b) of the Small Business Investment Act of 1958 (15 
U.S.C. 683(b)) is amended, in the matter preceding paragraph (1), in 
the first sentence, by inserting after ``issued by such companies'' the 
following: ``, in a total amount that does not exceed $4,000,000,000 
each fiscal year (adjusted annually to reflect increases in the 
Consumer Price Index established by the Bureau of Labor Statistics of 
the Department of Labor)''.

SEC. 3. FAMILY OF FUNDS.

    Section 303(b)(2)(B) of the Small Business Investment Act of 1958 
(15 U.S.C. 683(b)(2)(B)) is amended by striking ``$225,000,000'' and 
inserting ``$350,000,000''.

<DELETED>SEC. 4. ADJUSTMENT FOR INFLATION.</DELETED>

<DELETED>    Section 303(b)(2) of the Small Business Investment Act of 
1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the 
following:</DELETED>
                <DELETED>    ``(E) Adjustments.--</DELETED>
                        <DELETED>    ``(i) In general.--The dollar 
                        amounts in subparagraph (A)(ii), subparagraph 
                        (B), and subparagraph (C)(ii)(I) shall be 
                        adjusted annually to reflect increases in the 
                        Consumer Price Index established by the Bureau 
                        of Labor Statistics of the Department of Labor 
                        (in this subparagraph referred to as the 
                        `CPI').</DELETED>
                        <DELETED>    ``(ii) Applicability.--The 
                        adjustments required by clause (i)--</DELETED>
                                <DELETED>    ``(I) with respect to 
                                dollar amounts in subparagraphs (A)(ii) 
                                and (C)(ii)(I) shall initially reflect 
                                increases in the CPI during the period 
                                beginning on the effective date of 
                                section 505 of the American Recovery 
                                and Reinvestment Act of 2009 (123 Stat. 
                                156) through the date of enactment of 
                                this subparagraph and annually 
                                thereafter;</DELETED>
                                <DELETED>    ``(II) with respect to 
                                dollar amounts in subparagraph (B) 
                                shall reflect increases in the CPI 
                                annually on and after the date of 
                                enactment of this 
                                subparagraph.''.</DELETED>

<DELETED>SEC. 5. PUBLIC AVAILABILITY OF INFORMATION.</DELETED>

<DELETED>    Section 303 of the Small Business Investment Act of 1958 
(15 U.S.C. 683) is amended by adding at the end the 
following:</DELETED>
<DELETED>    ``(l) Access to Fund Information.--Annually, the 
Administrator shall make public on its website the following 
information with respect to each small business investment 
company:</DELETED>
        <DELETED>    ``(1) The amount of capital deployed since fund 
        inception.</DELETED>
        <DELETED>    ``(2) The amount of leverage drawn since fund 
        inception.</DELETED>
        <DELETED>    ``(3) The number of investments since fund 
        inception.</DELETED>
        <DELETED>    ``(4) The number of businesses receiving capital 
        since fund inception.</DELETED>
        <DELETED>    ``(5) Industry sectors receiving investment since 
        fund inception.</DELETED>
        <DELETED>    ``(6) The amount of leverage principal repaid by 
        SBIC since fund inception.</DELETED>
        <DELETED>    ``(7) A basic description of investment 
        strategy.''.</DELETED>

<DELETED>SEC. 6. AUTHORIZED USES OF LICENSING FEES.</DELETED>

<DELETED>    Section 301(e) of the Small Business Investment Act of 
1958 (15 U.S.C. 681(e)) is amended--</DELETED>
        <DELETED>    (1) by striking ``(e)'' and inserting ``(d)''; 
        and</DELETED>
        <DELETED>    (2) in paragraph (2)(B), by inserting before the 
        period at the end the following: ``and other small business 
        investment company program needs''.</DELETED>

<DELETED>SEC. 7. SENSE OF CONGRESS.</DELETED>

<DELETED>    It is the sense of Congress that--</DELETED>
        <DELETED>    (1) small business investment companies would 
        benefit from partnerships with community banks and other 
        lenders, and should work with community banks and other 
        lenders, to ensure that if community banks and other lenders 
        deny an application by a small business concern for a loan, the 
        community banks or other lenders will refer the small business 
        concern to small business investment companies; and</DELETED>
        <DELETED>    (2) the Administrator should--</DELETED>
                <DELETED>    (A) increase outreach to community banks 
                and other lenders to encourage community banks and 
                other lenders to invest in small business investment 
                companies;</DELETED>
                <DELETED>    (B) use the Internet to make publicly 
                available in a timely manner which small business 
                investment companies are actively soliciting 
                investments and making investments in small business 
                concerns;</DELETED>
                <DELETED>    (C) partner with governors, mayors, 
                States, and municipalities to increase outreach by 
                small business investment companies to underserved and 
                rural areas; and</DELETED>
                <DELETED>    (D) continue to make changes to the 
                webpage for the small business investment company 
                program, to make the webpage--</DELETED>
                        <DELETED>    (i) a more prominent part of the 
                        website of the Administration; and</DELETED>
                        <DELETED>    (ii) more user-friendly.</DELETED>
                                             </DELETED>Calendar No. 168

113th CONGRESS

  1st Session

                                 S. 511

                          [Report No. 113-90]

_______________________________________________________________________

                                 A BILL

To amend the Small Business Investment Act of 1958 to enhance the Small 
      Business Investment Company Program, and for other purposes.

_______________________________________________________________________

                           September 10, 2013

                       Reported with an amendment