[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1994 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 1994

  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 SENATE OF THE UNITED STATES

                             June 26, 2019

 Mr. Young (for himself, Ms. Duckworth, and Mr. Risch) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

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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 
2019''.

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 at the 
        end 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 at the 
        end 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.--In this 
        subsection, the term `appropriate Federal banking agency' has 
        the meaning given the term in section 3 of the Federal Deposit 
        Insurance Act (12 U.S.C. 1813).''.
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