[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2364 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 2364

  To amend the Small Business Investment Act of 1958 to increase the 
amount that certain banks and savings associations may invest in small 
     business investment companies, subject to the approval of the 
      appropriate Federal banking agency, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 4, 2017

  Ms. Judy Chu of California (for herself, Ms. Meng, and Mr. Knight) 
 introduced the following bill; which was referred to the Committee on 
                             Small Business

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                                 A BILL


 
  To amend the Small Business Investment Act of 1958 to increase the 
amount that certain banks and savings associations may invest in small 
     business investment companies, subject to the approval of the 
      appropriate Federal banking agency, 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 ``Investing in Main Street Act of 
2017''.

SEC. 2. INVESTMENT IN SMALL BUSINESS INVESTMENT COMPANIES.

    Section 302(b) of the Small Business Investment Act of 1958 (15 
U.S.C. 682(b)) is amended--
            (1) in paragraph (1), by inserting before the period the 
        following: ``or, subject to the approval of the appropriate 
        Federal banking agency, 15 percent of such capital and 
        surplus'';
            (2) in paragraph (2), by inserting before the period the 
        following: ``or, subject to the approval of the appropriate 
        Federal banking agency, 15 percent of such capital and 
        surplus''; and
            (3) by adding at the end the following:
            ``(3) Appropriate federal banking agency defined.--For 
        purposes of this subsection, the term `appropriate Federal 
        banking agency' has the meaning given that term under section 3 
        of the Federal Deposit Insurance Act.''.
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