II 

113TH CONGRESS 

1ST SESSION S. 511 

To amend the Small Business Investment Act of 1958 to enhance the Small 

Business Investment Company Program, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 11, 2013 

Ms. LANDRIEU introduced the following bill; which was read twice and 

referred to the Committee on Small Business and Entrepreneurship 

A BILL 

To amend the Small Business Investment Act of 1958 to 

enhance the Small Business Investment Company Program, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Expanding Access to 

5 Capital for Entrepreneurial Leaders Act’’ or the ‘‘EXCEL 

6 Act’’. 

7 SEC. 2. PROGRAM AUTHORIZATION. 

8 Section 303(b) of the Small Business Investment Act 

9 of 1958 (15 U.S.C. 683(b)) is amended, in the matter pre10 ceding paragraph (1), in the first sentence, by inserting 


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•S 511 IS

1 after ‘‘issued by such companies’’ the following: ‘‘, in a 

2 total amount that does not exceed $4,000,000,000 each 

3 fiscal year (adjusted annually to reflect increases in the 

4 Consumer Price Index established by the Bureau of Labor 

5 Statistics of the Department of Labor)’’. 

6 SEC. 3. FAMILY OF FUNDS. 

7 Section 303(b)(2)(B) of the Small Business Invest8 ment Act of 1958 (15 U.S.C. 683(b)(2)(B)) is amended 

9 by striking ‘‘$225,000,000’’ and inserting 

10 ‘‘$350,000,000’’. 

11 SEC. 4. ADJUSTMENT FOR INFLATION. 

12 Section 303(b)(2) of the Small Business Investment 

13 Act of 1958 (15 U.S.C. 683(b)(2)) is amended by adding 

14 at the end the following: 

15 ‘‘(E) ADJUSTMENTS.— 

16 ‘‘(i) IN GENERAL.—The dollar 

17 amounts in subparagraph (A)(ii), subpara18 graph (B), and subparagraph (C)(ii)(I) 

19 shall be adjusted annually to reflect in20 creases in the Consumer Price Index estab21 lished by the Bureau of Labor Statistics of 

22 the Department of Labor (in this subpara23 graph referred to as the ‘CPI’). 

24 ‘‘(ii) APPLICABILITY.—The adjust25 ments required by clause (i)— 


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1 ‘‘(I) with respect to dollar 

2 amounts in subparagraphs (A)(ii) and 

3 (C)(ii)(I) shall initially reflect in4 creases in the CPI during the period 

5 beginning on the effective date of sec6 tion 505 of the American Recovery 

7 and Reinvestment Act of 2009 (123 

8 Stat. 156) through the date of enact9 ment of this subparagraph and annu10 ally thereafter; 

11 ‘‘(II) with respect to dollar 

12 amounts in subparagraph (B) shall 

13 reflect increases in the CPI annually 

14 on and after the date of enactment of 

15 this subparagraph.’’. 

16 SEC. 5. PUBLIC AVAILABILITY OF INFORMATION. 

17 Section 303 of the Small Business Investment Act 

18 of 1958 (15 U.S.C. 683) is amended by adding at the end 

19 the following: 

20 ‘‘(l) ACCESS TO FUND INFORMATION.—Annually, the 

21 Administrator shall make public on its website the fol22 lowing information with respect to each small business in23 vestment company: 

24 ‘‘(1) The amount of capital deployed since fund 

25 inception. 


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1 ‘‘(2) The amount of leverage drawn since fund 

2 inception. 

3 ‘‘(3) The number of investments since fund in4 ception. 

5 ‘‘(4) The number of businesses receiving capital 

6 since fund inception. 

7 ‘‘(5) Industry sectors receiving investment since 

8 fund inception. 

9 ‘‘(6) The amount of leverage principal repaid by 

10 SBIC since fund inception. 

11 ‘‘(7) A basic description of investment strat12 egy.’’. 

13 SEC. 6. AUTHORIZED USES OF LICENSING FEES. 

14 Section 301(e) of the Small Business Investment Act 

15 of 1958 (15 U.S.C. 681(e)) is amended— 

16 (1) by striking ‘‘(e)’’ and inserting ‘‘(d)’’; and 

17 (2) in paragraph (2)(B), by inserting before the 

18 period at the end the following: ‘‘and other small 

19 business investment company program needs’’. 

20 SEC. 7. SENSE OF CONGRESS. 

21 It is the sense of Congress that— 

22 (1) small business investment companies would 

23 benefit from partnerships with community banks 

24 and other lenders, and should work with community 

25 banks and other lenders, to ensure that if commuVerDate Mar 15 2010 00:56 Mar 13, 2013 Jkt 029200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S511.IS S511

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1 nity banks and other lenders deny an application by 

2 a small business concern for a loan, the community 

3 banks or other lenders will refer the small business 

4 concern to small business investment companies; and 

5 (2) the Administrator should— 

6 (A) increase outreach to community banks 

7 and other lenders to encourage community 

8 banks and other lenders to invest in small busi9 ness investment companies; 

10 (B) use the Internet to make publicly 

11 available in a timely manner which small busi12 ness investment companies are actively solic13 iting investments and making investments in 

14 small business concerns; 

15 (C) partner with governors, mayors, 

16 States, and municipalities to increase outreach 

17 by small business investment companies to un18 derserved and rural areas; and 

19 (D) continue to make changes to the 

20 webpage for the small business investment com21 pany program, to make the webpage— 

22 (i) a more prominent part of the 

23 website of the Administration; and 

24 (ii) more user-friendly. 

Æ 


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