[Congressional Record Volume 170, Number 120 (Wednesday, July 24, 2024)]
[Senate]
[Pages S5410-S5411]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3100. Mr. HICKENLOOPER (for himself and Mr. Marshall) submitted an 
amendment intended to be proposed by him to the bill S. 4638, to 
authorize appropriations for fiscal year 2025 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:

       At the end of subtitle D of title VIII, add the following:

     SEC. 865. SBIC MAXIMUM LEVERAGE EXCLUSION.

       (a) Short Title.--This section may be cited as the 
     ``Investing in All of America Act of 2024''.
       (b) Definitions.--Section 103(9) of the Small Business 
     Investment Act of 1958 (15 U.S.C. 662(9)) is amended--
       (1) in subparagraph (A)(ii), by striking ``and'' at the 
     end;
       (2) in subparagraph (B)(iii)--
       (A) in subclause (I), by striking ``established prior to 
     October 1, 1987'';
       (B) in subclause (II)--
       (i) by striking ``or'' and inserting ``, a''; and
       (ii) by inserting ``, or a foundation, endowment, or trust 
     of a college or university'' after ``pension plan''; and
       (C) in subclause (III), by striking the semicolon at the 
     end and inserting ``; and''; and
       (3) by adding at the end the following:
       ``(C) for the purpose of approval by the Administrator of 
     any request for leverage, does not include any funds obtained 
     directly or indirectly from any Federal, State or local 
     government or any government agency or instrumentality, 
     except for funds described in subclause (I), (II), or (III) 
     of subparagraph (B)(iii).''.
       (c) Maximum Leverage.--Section 303(b)(2) of the Small 
     Business Investment Act of 1958 (15 U.S.C. 683(b)(2)) is 
     amended--

[[Page S5411]]

       (1) in subparagraph (A)(i), by striking ``300'' and 
     inserting ``200'';
       (2) in subparagraph (C)--
       (A) in the heading--
       (i) by inserting ``or rural'' after ``low-income''; and
       (ii) by inserting ``or critical technology areas'' after 
     ``geographic areas'';
       (B) in clause (i)--
       (i) by striking ``(i) In calculating'' and inserting the 
     following:
       ``(i) In general.--Except as provided in clause (iii), in 
     calculating'';
       (ii) by inserting ``or companies'' after ``of a company'';
       (iii) by striking ``subparagraph (A)'' and inserting 
     ``subparagraphs (A) and (B)'';
       (iv) by striking ``equity'';
       (v) by striking ``the company in a smaller enterprise'' and 
     all that follows and inserting the following: ``the company 
     or companies in--

       ``(I) a smaller enterprise located in a low-income 
     geographic area (as defined in section 351) or in a rural 
     area; or''; and

       (vi) by adding at the end the following new subclause:

       ``(II) a small business concern in an area of critical 
     technology (as defined in section 4801 of title 10, United 
     States Code) vital to maintaining the national security of 
     the United States.'';

       (C) by amending clause (ii) to read as follows:
       ``(ii) Limitation.--While maintaining the limitation of 
     subparagraph (A)(i) and consistent with a leverage 
     determination ratio issued pursuant to section 301(c), the 
     aggregate amount excluded for a company or companies under 
     clause (i) from the calculation of the outstanding leverage 
     of such company or companies for the purposes of 
     subparagraphs (A) and (B) may not exceed the lesser of 50 
     percent of the private capital of such company or companies 
     or $125,000,000.''; and
       (D) by amending clause (iii) to read as follows:
       ``(iii) Prospective applicability.--An investment by a 
     licensee is eligible for exclusion from the calculation of 
     outstanding leverage under clause (i) only if such investment 
     is made by such licensee after the date of enactment of the 
     Investing in All of America Act of 2024.''; and
       (3) by adding at the end the following new subparagraphs:
       ``(E) Annual adjustment.--The Administrator shall adjust 
     the dollar amounts described in subparagraphs (A) and (B)--
       ``(i) on the date of the enactment of this subparagraph, by 
     a percentage equal to the percentage (if any) by which the 
     Consumer Price Index (all items; United States city average), 
     as published by the Bureau of Labor Statistics, increased 
     during the period--

       ``(I) beginning on December 18, 2015, and ending on the 
     date of the enactment of this subparagraph, for subparagraph 
     (B); and
       ``(II) beginning on June 21, 2018, and ending on the date 
     of the enactment of this subparagraph, for subparagraph (A); 
     and

       ``(ii) on the date that is one year after the date of the 
     enactment of this subparagraph, and annually thereafter, by a 
     percentage equal to the percentage (if any) by which the 
     Consumer Price Index (all items; United States city average), 
     as published by the Bureau of Labor Statistics, increased 
     during the one-year period preceding the date of the 
     adjustment under this clause.''.
       (d) Report.--Not later than June 30 of the first year 
     beginning after the date of enactment of this Act, and 
     annually thereafter, the Administrator of the Small Business 
     Administration shall submit to the Committee on Small 
     Business and Entrepreneurship of the Senate and the Committee 
     on Small Business of the House of Representatives a report on 
     the results of the exclusion under subparagraph (C) of 
     section 303(b)(2) of the Small Business Investment Act of 
     1958 (15 U.S.C. 683(b)(2)), as amended by subsection (c), 
     including the economic activity generated and jobs directly 
     and indirectly created by the exclusion.
                                 ______