Title: SBIC Capital Infusion Act of 2020
Policy area: Commerce

Summary:
SBIC Capital Infusion Act of 2020
This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program.
Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes.
The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6342 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6342

     To amend the Small Business Investment Act of 1958 to provide 
  additional assistance for small businesses affected by the COVID-19 
                   outbreak, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 23, 2020

Ms. Davids of Kansas introduced the following bill; which was referred 
                   to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
     To amend the Small Business Investment Act of 1958 to provide 
  additional assistance for small businesses affected by the COVID-19 
                   outbreak, and for other purposes.

    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 ``SBIC Capital Infusion Act of 2020''.

SEC. 2. ADDITIONAL LEVERAGE FOR SMALL BUSINESSES AFFECTED BY THE COVID-
              19 OUTBREAK.

    (a) In General.--Section 303(b)(2) of the Small Business Investment 
Act of 1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the 
following:
                    ``(E) Additional leverage base on investment.--
                            ``(i) Exclusion of amounts.--In calculating 
                        the outstanding leverage of a company for 
                        purposes of subparagraph (A) or (B), the 
                        Administrator shall exclude the amount of 
                        leverage outstanding to covered small 
                        businesses, not to exceed an amount equal to 
                        $100,000,000, if the amount excluded is used 
                        exclusively for working capital purposes.
                            ``(ii) Covered small business defined.--In 
                        this subparagraph, the term `covered small 
                        business' means a small business concern is 
                        located in a State or United States territory 
                        with at least one confirmed or presumed 
                        positive case of COVID-19.''.
    (b) Application.--Notwithstanding any other provision of law, for 
purposes of additional leverage requested under subparagraph (E) of 
section 303(b)(2) of the Small Business Investment Act of 1958, as 
added by subsection (a), the Administrator shall approve or deny such 
request within 14 calendar days of receipt by the Administrator of the 
request.

SEC. 3. NEW MARKETS VENTURE CAPITAL PROGRAM.

    Section 368(a) of the Small Business Investment Act of 1958 (15 
U.S.C. 689q(a)) is amended--
            (1) by striking ``fiscal years 2001 through 2006'' and 
        inserting ``fiscal years 2020 through 2025'';
            (2) in paragraph (1), by striking ``$150,000,000'' and 
        inserting ``$10,000,000,000''; and
            (3) in paragraph (2), by striking ``$30,000,000'' and 
        inserting ``$2,000,000,000''.
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