EXCEL Act

Bill: 113-s-511
Sponsor: Sen. Landrieu, Mary L. [D-LA]
Introduced: 2013-03-11 in the Senate
Policy area: Commerce
Subjects: Business investment and capital
Credit and credit markets
Government information and archives
Inflation and prices
Intergovernmental relations
Licensing and registrations
Rural conditions and development
Small business
User charges and fees

Summary:
action_date: 2013-03-11
text: 
Expanding Access to Capital for Entrepreneurial Leaders Act or the EXCEL Act - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Authorizes annual inflationary adjustments of such limits.
 
Directs the Administrator to make publicly available on the SBA website specified fiscal and related information with respect to each SBIC.
 
Allows SBIC licensing fees to be used by the SBA for SBIC program needs other than the costs of licensing examinations.
 
Expresses the sense of Congress that SBICs would benefit from partnerships with community banks and other lenders, and that the Administrator should: (1) increase outreach to such banks and lenders for investment in SBICs; (2) use the Internet to publicize which SBICs are soliciting and making investments in small businesses; (3) partner with governors, mayors, states, and municipalities to increase outreach by SBICs to underserved and rural areas; and (4) revise and update the SBIC program webpage to make it more prominent and user-friendly.

action_date: 2013-09-10
text: 
Expanding Access to Capital for Entrepreneurial Leaders Act or the EXCEL Act - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases from $225 million to $350 million the maximum amount of outstanding leverage for two or more commonly-controlled SBICs.


Legislative actions:
action_date: 2013-09-10
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 168.
action_date: 2013-09-10
text: Committee on Small Business and Entrepreneurship. Reported by Senator Landrieu with an amendment. With written report No. 113-90.
action_date: 2013-09-10
text: Committee on Small Business and Entrepreneurship. Reported by Senator Landrieu with an amendment. With written report No. 113-90.
action_date: 2013-06-17
text: Committee on Small Business and Entrepreneurship. Ordered to be reported with amendments favorably.
action_date: 2013-06-13
text: Committee on Small Business and Entrepreneurship. Committee consideration and Mark Up Session held.
action_date: 2013-03-14
text: Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 113-309.
action_date: 2013-03-11
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.
action_date: 2013-03-11
text: Sponsor introductory remarks on measure. (CR S1594)
action_date: 2013-03-11
text: Introduced in Senate