[Congressional Record (Bound Edition), Volume 163 (2017), Part 10]
[Senate]
[Page 13678]
[From the U.S. Government Publishing Office, www.gpo.gov]




            SMALL BUSINESS CAPITAL FORMATION ENHANCEMENT ACT

  Mr. McCONNELL. Mr. President, I ask unanimous consent that the 
Committee on Banking, Housing, and Urban Affairs be discharged from 
further consideration of S. 416 and the Senate proceed to its immediate 
consideration.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The clerk will report the bill by title.
  The senior assistant legislative clerk read as follows:

       A bill (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.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the bill 
be considered read a third time and passed and the motion to reconsider 
be considered made and laid upon the table.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 416) was ordered to be engrossed for a third reading, 
was read the third time, and passed, as follows:

                                 S. 416

       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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