II 

Calendar No. 168 

113TH CONGRESS 

1ST SESSION S. 511 

[Report No. 113–90] 

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 (for herself, Mr. CARDIN, and Mr. COWAN) introduced the following bill; which was read twice and referred to the Committee on Small 

Business and Entrepreneurship 

SEPTEMBER 10, 2013 

Reported by Ms. LANDRIEU, with an amendment 

[Omit the part struck through] 

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, 


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1 SECTION 1. SHORT TITLE. 

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

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

4 Act’’. 

5 SEC. 2. PROGRAM AUTHORIZATION. 

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

7 of 1958 (15 U.S.C. 683(b)) is amended, in the matter pre8 ceding paragraph (1), in the first sentence, by inserting 

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

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

11 fiscal year (adjusted annually to reflect increases in the 

12 Consumer Price Index established by the Bureau of Labor 

13 Statistics of the Department of Labor)’’. 

14 SEC. 3. FAMILY OF FUNDS. 

15 Section 303(b)(2)(B) of the Small Business Invest16 ment Act of 1958 (15 U.S.C. 683(b)(2)(B)) is amended 

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

18 ‘‘$350,000,000’’. 

19 SEC. 4. ADJUSTMENT FOR INFLATION. 

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

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

22 at the end the following: 

23 ‘‘(E) ADJUSTMENTS.— 

24 ‘‘(i) IN GENERAL.—The dollar 

25 amounts in subparagraph (A)(ii), subpara26 graph (B), and subparagraph (C)(ii)(I) 


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1 shall be adjusted annually to reflect in2 creases in the Consumer Price Index estab3 lished by the Bureau of Labor Statistics of 

4 the Department of Labor (in this subpara5 graph referred to as the ‘CPI’). 

6 ‘‘(ii) APPLICABILITY.—The adjust7 ments required by clause (i)— 

8 ‘‘(I) with respect to dollar 

9 amounts in subparagraphs (A)(ii) and 

10 (C)(ii)(I) shall initially reflect in11 creases in the CPI during the period 

12 beginning on the effective date of sec13 tion 505 of the American Recovery 

14 and Reinvestment Act of 2009 (123 

15 Stat. 156) through the date of enact16 ment of this subparagraph and annu17 ally thereafter; 

18 ‘‘(II) with respect to dollar 

19 amounts in subparagraph (B) shall 

20 reflect increases in the CPI annually 

21 on and after the date of enactment of 

22 this subparagraph.’’. 


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1 SEC. 5. PUBLIC AVAILABILITY OF INFORMATION. 

2 Section 303 of the Small Business Investment Act 

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

4 the following: 

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

6 Administrator shall make public on its website the fol7 lowing information with respect to each small business in8 vestment company: 

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

10 inception. 

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

12 inception. 

13 ‘‘(3) The number of investments since fund in14 ception. 

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

16 since fund inception. 

17 ‘‘(5) Industry sectors receiving investment since 

18 fund inception. 

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

20 SBIC since fund inception. 

21 ‘‘(7) A basic description of investment strat22 egy.’’. 

23 SEC. 6. AUTHORIZED USES OF LICENSING FEES. 

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

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

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


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

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

3 business investment company program needs’’. 

4 SEC. 7. SENSE OF CONGRESS. 

5 It is the sense of Congress that— 

6 (1) small business investment companies would 

7 benefit from partnerships with community banks 

8 and other lenders, and should work with community 

9 banks and other lenders, to ensure that if commu10 nity banks and other lenders deny an application by 

11 a small business concern for a loan, the community 

12 banks or other lenders will refer the small business 

13 concern to small business investment companies; and 

14 (2) the Administrator should— 

15 (A) increase outreach to community banks 

16 and other lenders to encourage community 

17 banks and other lenders to invest in small busi18 ness investment companies; 

19 (B) use the Internet to make publicly 

20 available in a timely manner which small busi21 ness investment companies are actively solic22 iting investments and making investments in 

23 small business concerns; 

24 (C) partner with governors, mayors, 

25 States, and municipalities to increase outreach 


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1 by small business investment companies to un2 derserved and rural areas; and 

3 (D) continue to make changes to the 

4 webpage for the small business investment com5 pany program, to make the webpage— 

6 (i) a more prominent part of the 

7 website of the Administration; and 

8 (ii) more user-friendly. 


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Calendar No. 168 

113TH CONGRESS 

1ST SESSION S. 511 

[Report No. 113–90] 

A BILL 

To amend the Small Business Investment Act of 

Company Program, and for other purposes. 1958 to enhance the Small Business Investment 

SEPTEMBER 10, 2013 

Reported with an amendment 


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