Small Business Early-Stage Investment Act of 2009

Bill: 111-hr-3738
Sponsor: Rep. Nye, Glenn C. [D-VA-2]
Introduced: 2009-10-07 in the House
Policy area: Commerce
Subjects: Advanced technology and technological innovations
Agricultural practices and innovations
Alternative and renewable resources
Broadcasting, cable, digital technologies
Business investment and capital
Computers and information technology
Energy efficiency and conservation
Energy research
Environmental technology
Financial services and investments
Government trust funds
Health technology, devices, supplies
Medical research
Military procurement, research, weapons development
Research and development
Small business
Technology transfer and commercialization

Summary:
action_date: 2009-10-07
text: 
Small Business Early-Stage Investment Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out a program to provide equity investment financing to support early-stage small businesses in the following targeted industries: (1) agricultural technology; (2) energy technology; (3) environmental technology; (4) life science; (5) information technology; (6) digital media; (7) clean technology; and (8) defense technology. Directs the Administrator to make grants to participating investment companies under the program and limits to $100 million the aggregate amount of all grants made to a participating investment company under the program. Requires, as a condition of receiving a grant under the program, all of the investments of participating investment companies to be in small businesses, and at least 50% to be in early-stage small businesses in the targeted industries. Establishes a separate Treasury fund for such grants.

action_date: 2009-11-18
text: 
Small Business Early-Stage Investment Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out a program to provide equity investment financing to support early-stage small businesses in the following targeted industries: (1) agricultural technology; (2) energy technology; (3) environmental technology; (4) life science; (5) information technology; (6) digital media; (7) clean technology; (8) defense technology; and (9) photonics technology. Directs the Administrator to make grants to participating investment companies under the program and limits to $100 million the aggregate amount of all grants made to a participating investment company under the program. Requires, as a condition of receiving a grant under the program, all of the investments of participating investment companies to be in small businesses, and at least 50% to be in early-stage small businesses in the targeted industries. Directs the Administrator to monitory participant compliance with such requirements. Establishes a separate Treasury fund for such grants.
 
Authorizes appropriations.
 
Prohibits funds appropriated for such purpose from being used for a congressional earmark.


Legislative actions:
action_date: 2009-11-19
text: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
action_date: 2009-11-18
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2009-11-18
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H13081-13082)
action_date: 2009-11-18
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H13081-13082)
action_date: 2009-11-18
text: DEBATE - The House resumed debate on H.R. 3738.
action_date: 2009-11-18
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3738.
action_date: 2009-11-18
text: Considered under suspension of the rules. (consideration: CR H13081-13084)
action_date: 2009-11-18
text: Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
action_date: 2009-10-21
text: Provisions of Measure Incorporated into H.R. 3854.
action_date: 2009-10-08
text: Forwarded by Subcommittee to Full Committee by Voice Vote .
action_date: 2009-10-08
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2009-10-07
text: Referred to the Subcommittee on Finance and Tax.
action_date: 2009-10-07
text: Referred to the House Committee on Small Business.
action_date: 2009-10-07
text: Introduced in House
action_date: 2009-10-07
text: Introduced in House