[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 416 Reference Change Senate (RCS)]

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115th CONGRESS
  1st Session
                                 S. 416

To amend the Small Business Investment Incentive Act of 1980 to require 
   an annual review by the Securities and Exchange Commission of the 
         annual government-business forum on capital formation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 16, 2017

  Mr. Donnelly (for himself and Mr. Tillis) introduced the following 
   bill; which was read twice and referred to the Committee on Small 
                     Business and Entrepreneurship

                             March 7, 2017

 Committee discharged; referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Investment Incentive Act of 1980 to require 
   an annual review by the Securities and Exchange Commission of the 
         annual government-business forum on capital formation.

    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 Capital Formation 
Enhancement Act''.

SEC. 2. ANNUAL REVIEW OF GOVERNMENT-BUSINESS FORUM ON CAPITAL 
              FORMATION.

    Section 503 of the Small Business Investment Incentive Act of 1980 
(15 U.S.C. 80c-1) is amended by adding at the end the following:
    ``(e) The Commission shall--
            ``(1) review the findings and recommendations of the forum; 
        and
            ``(2) each time the forum submits a finding or 
        recommendation to the Commission, promptly issue a public 
        statement--
                    ``(A) assessing the finding or recommendation of 
                the forum; and
                    ``(B) disclosing the action, if any, the Commission 
                intends to take with respect to the finding or 
                recommendation.''.
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