SBIC Advisory Committee Act of 2022

Bill: 117-s-2521
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Introduced: 2021-07-28 in the Senate
Policy area: Commerce
Subjects: Advisory bodies
Business investment and capital
Congressional oversight
Minority and disadvantaged businesses
Poverty and welfare assistance
Rural conditions and development
Small business

Summary:
action_date: 2021-07-28
text: 

SBIC Working Group Act of 2021

 
This bill requires the Small Business Administration (SBA) to establish a working group to develop recommendations for expanding SBA assistance provided through Small Business Investment Companies (SBICs). SBICs are privately owned companies, licensed and regulated by the SBA, which invest in small businesses through debt and equity.
 
Composed in part of representatives of and partners with small businesses in low-income communities and rural areas, the working group must make recommendations for (1) how the SBA can increase the number of applicants to become SBICs, particularly in low-income, underserved, and rural communities and areas; and (2) incentivizing investment by and location of SBICs in underfinanced states. 

action_date: 2022-02-17
text: 

SBIC Advisory Committee Act of 202

2

 
This bill requires the Small Business Administration (SBA) to establish an advisory committee to develop recommendations for expanding SBA assistance provided through Small Business Investment Companies (SBICs). SBICs are privately owned companies, licensed and regulated by the SBA, which invest in small businesses through debt and equity.
 
Composed in part of representatives of and partners with small businesses in low-income communities and rural areas, the advisory committee must make recommendations for (1) how the SBA can increase the number of applicants to become SBICs, particularly in low-income, underserved, and rural communities and areas; and (2) incentivizing investment by and location of SBICs in underfinanced states. 

action_date: 2022-09-28
text: 

SBIC Advisory Committee Act of 202

2

 
This bill requires the Small Business Administration (SBA) to establish an advisory committee to develop recommendations for expanding SBA assistance provided through Small Business Investment Companies (SBICs). SBICs are privately owned companies, licensed and regulated by the SBA, which invest in small businesses through debt and equity.
 
Composed in part of representatives of and partners with small businesses in low-income communities and rural areas, the advisory committee must make recommendations for SBICs to invest in (1) underlicensed and underfinanced states; and (2) small businesses owned by socially or economically disadvantaged individuals, veterans, and women.


Legislative actions:
action_date: 2022-09-29
text: Held at the desk.
action_date: 2022-09-29
text: Received in the House.
action_date: 2022-09-29
text: Message on Senate action sent to the House.
action_date: 2022-09-28
text: Passed Senate with an amendment and an amendment to the Title by Voice Vote. (text of amendment in the nature of a substitute: CR S5169-5170)
action_date: 2022-09-28
text: Passed/agreed to in Senate: Passed Senate with an amendment and an amendment to the Title by Voice Vote.
action_date: 2022-09-28
text: The committee substitute withdrawn by Unanimous Consent.
action_date: 2022-09-28
text: Measure laid before Senate by unanimous consent. (consideration: CR S5168)
action_date: 2022-05-03
text: By Senator Cardin from Committee on Small Business and Entrepreneurship filed written report. Report No. 117-105. Minority views filed.
action_date: 2022-05-03
text: By Senator Cardin from Committee on Small Business and Entrepreneurship filed written report. Report No. 117-105. Minority views filed.
action_date: 2022-02-17
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 280.
action_date: 2022-02-17
text: Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with an amendment in the nature of a substitute and an amendment to the title. Without written report.
action_date: 2022-02-17
text: Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with an amendment in the nature of a substitute and an amendment to the title. Without written report.
action_date: 2022-02-15
text: Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2021-07-28
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.
action_date: 2021-07-28
text: Introduced in Senate