I 
117TH CONGRESS 
1ST SESSION H. R. 2262 
To establish a small business and domestic production recovery investment 
facility, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 26, 2021 
Ms. TENNEY introduced the following bill; which was referred to the 
Committee on Small Business 
A BILL 
To establish a small business and domestic production 
recovery investment facility, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘American Innovation 
and Manufacturing Act’’. 
SEC. 2. SMALL BUSINESS INVESTMENT COMPANY PRO-
GRAM. 
(a) IN GENERAL.—Part A of title III of the Small 
Business Investment Act of 1958 (15 U.S.C. 681 et seq.) 
is amended— 
VerDate Sep 11 2014 
04:45 May 25, 2021
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2262.IH
H2262
kjohnson on DSK79L0C42PROD with BILLS
(1) in section 302(a) (15 U.S.C. 682(a))— 
(A) in paragraph (1)— 
(i) in subparagraph (A), by striking 
‘‘or’’ at the end; 
(ii) in subparagraph (B), by striking 
the period at the end and inserting ‘‘; or’’; 
and 
(iii) by adding at the end the fol-
lowing: 
‘‘(C) $20,000,000, adjusted every 5 years 
for inflation, with respect to each licensee au-
thorized or seeking authority to sell bonds to 
Administration as a participating investment 
company under section 321.’’; and 
(2) by adding at the end the following: 
‘‘SEC. 321. SMALL BUSINESS AND DOMESTIC PRODUCTION 
RECOVERY INVESTMENT FACILITY. 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) ELIGIBLE SMALL BUSINESS CONCERN.— 
The term ‘eligible small business concern’— 
‘‘(A) means a small business concern that 
is a manufacturing business that is assigned a 
North American Industry Classification System 
code beginning with 31, 32, or 33 at the time 
at which the small business concern receives an 
VerDate Sep 11 2014 
04:45 May 25, 2021
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2262.IH
H2262
kjohnson on DSK79L0C42PROD with BILLS
investment from a participating investment 
company under the facility; and 
‘‘(B) does not include an entity described 
in section 7(a)(37)(A)(iv)(III) of the Small 
Business 
Act 
(15 
U.S.C. 
636(a)(37)(A)(iv)(III)). 
‘‘(2) FACILITY.—The term ‘facility’ means the 
facility established under subsection (b). 
‘‘(3) FUND.—The term ‘Fund’ means the fund 
established under subsection (h). 
‘‘(4) PARTICIPATING INVESTMENT COMPANY.— 
The term ‘participating investment company’ means 
a small business investment company approved 
under subsection (d) to participate in the facility. 
‘‘(5) PROTE´GE´
INVESTMENT
COMPANY.—The 
term ‘prote´ge´ investment company’ means a small 
business investment company that— 
‘‘(A) is majority managed by new, inexperi-
enced, or otherwise underrepresented fund man-
agers; and 
‘‘(B) elects and is selected by the Adminis-
tration to participate in the pathway-prote´ge´ 
program under subsection (g). 
‘‘(6) SMALL
BUSINESS
CONCERN.—The term 
‘small business concern’ has the meaning given the 
VerDate Sep 11 2014 
04:45 May 25, 2021
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2262.IH
H2262
kjohnson on DSK79L0C42PROD with BILLS
term in section 3(a) of the Small Business Act (15 
U.S.C. 632(a)). 
‘‘(b) ESTABLISHMENT.— 
‘‘(1) FACILITY.—The Administrator shall estab-
lish and carry out a facility to increase resiliency in 
the manufacturing supply chain of eligible small 
business concerns by providing financial assistance 
to participating investment companies that facilitate 
equity financings to eligible small business concerns 
in accordance with this section. 
‘‘(2) ADMINISTRATION OF FACILITY.—The fa-
cility shall be administered by the Administrator act-
ing through the Associate Administrator described in 
section 201. 
‘‘(c) APPLICATIONS.— 
‘‘(1) IN GENERAL.—Any small business invest-
ment company may submit to the Administrator an 
application to participate in the facility. 
‘‘(2) REQUIREMENTS
FOR
APPLICATION.—An 
application to participate in the facility shall include 
the following: 
‘‘(A) A business plan describing how the 
applicant intends to make successful equity in-
vestments in eligible small business concerns. 
VerDate Sep 11 2014 
04:45 May 25, 2021
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H2262.IH
H2262
kjohnson on DSK79L0C42PROD with BILLS
‘‘(B) Information regarding the relevant 
investment qualifications and backgrounds of 
the individuals responsible for the management 
of the applicant. 
‘‘(C) A description of the extent to which 
the applicant meets the selection criteria under 
subsection (d)(2). 
‘‘(3) EXCEPTIONS TO APPLICATION FOR NEW 
LICENSEES.—Not later than 90 days after the date 
of enactment of this section, the Administrator shall 
reduce requirements for applicants applying to oper-
ate as a participating investment company under 
this section in order to encourage the participation 
of new small business investment companies in the 
facility under this section, which may include the re-
quirements established under part 107 of title 13, 
Code of Federal Regulations, or any successor regu-
lation, relating to— 
‘‘(A) the approval of initial management 
expenses; 
‘‘(B) the management ownership diversity 
requirement; 
‘‘(C) the disclosure of general compen-
satory practices and fee structures; or 
VerDate Sep 11 2014 
04:45 May 25, 2021
Jkt 019200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H2262.IH
H2262
kjohnson on DSK79L0C42PROD with BILLS