[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4111 Enrolled Bill (ENR)]

        H.R.4111

                     One Hundred Fifteenth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

         Begun and held at the City of Washington on Wednesday,
           the third day of January, two thousand and eighteen


                                 An Act


 
To amend the Small Business Investment Act of 1958 to improve the number 
of small business investment companies in underlicensed States, 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 ``Spurring Business in Communities Act 
of 2017''.
SEC. 2. IMPROVING THE NUMBER OF SMALL BUSINESS INVESTMENT COMPANIES IN 
UNDERLICENSED STATES.
    The Small Business Investment Act of 1958 (15 U.S.C. 661 et seq.) 
is amended--
        (1) in section 103 (15 U.S.C. 662)--
            (A) in paragraph (18)(E), by striking ``and'' at the end;
            (B) in paragraph (19), by striking the period at the end 
        and inserting ``; and''; and
            (C) by adding at the end the following:
        ``(20) the term `underlicensed State' means a State in which 
    the number of licensees per capita is less than the median number 
    of licensees per capita for all States, as calculated by the 
    Administrator.'';
        (2) in section 301(c) (15 U.S.C. 681(c))--
            (A) in paragraph (3)--
                (i) in subparagraph (B)(iii), by striking ``and'' at 
            the end;
                (ii) in subparagraph (C), by striking the period at the 
            end and inserting ``; and''; and
                (iii) by adding at the end the following:
            ``(D) shall give first priority to an applicant that is 
        located in an underlicensed State with below median financing, 
        as determined by the Administrator.''; and
            (B) in paragraph (4)(B)--
                (i) by striking clause (i);
                (ii) by redesignating clauses (ii) and (iii) as clauses 
            (i) and (ii), respectively; and
                (iii) by amending clause (i), as so redesignated, to 
            read as follows:
                ``(i) is located in a State that--

                    ``(I) is not served by a licensee; or
                    ``(II) is an underlicensed State; and''; and

        (3) in section 308(g) (15 U.S.C. 687(g))--
            (A) in paragraph (2)--
                (i) in subparagraph (B), by inserting ``and licensing'' 
            after ``financing'';
                (ii) by redesignating subparagraphs (C) through (J) as 
            subparagraphs (E) through (L), respectively; and
                (iii) by inserting after subparagraph (B) the 
            following:
        ``(C) Steps taken by the Administration to improve the number 
    of licensees in underlicensed States.
        ``(D) The Administration's plans to support States that seek to 
    increase the number of licensees in the State.''; and
            (B) in paragraph (3)--
                (i) in subparagraph (C), by striking ``and'' at the 
            end;
                (ii) in subparagraph (D), by striking the period at the 
            end and inserting ``; and''; and
                (iii) by adding at the end the following:
        ``(E) the geographic dispersion of licensees in each State 
    compared to the population of the State, identifying underlicensed 
    States.''.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.