I 118th CONGRESS 1st Session H. R. 5333 IN THE HOUSE OF REPRESENTATIVES September 1, 2023 Mr. Meuser (for himself and Ms. Scholten ) 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 exclude from the limit on leverage certain amounts invested in smaller enterprises located in rural or low-income areas and small businesses in critical technology areas, and for other purposes.

1. Short title This Act may be cited as the Investing in All of America Act of 2023 . 2. SBIC maximum leverage exclusion (a) In general Section 303(b)(2) of the Small Business Investment Act of 1958 ( 15 U.S.C. 683(b)(2) ) is amended— (1) in subparagraph (C)— (A) in the heading— (i) by inserting or rural after low-income ; and (ii) by inserting or critical technology areas after geographic areas ; (B) in clause (i)— (i) by inserting or companies after of a company ; (ii) by striking subparagraph (A) and inserting subparagraphs (A) and (B) ; (iii) by striking equity ; (iv) by striking the company in a smaller enterprise and all that follows and inserting the following: the company or companies in— (I) a smaller enterprise located in a low-income geographic area (as defined in section 689 of this title) or in a rural area; or ; and (v) by adding at the end the following new subclause: (II) a small business concern in an area of critical technology (as defined in section 4801 of title 10, United States Code) vital to maintaining the national security of the United States. ; (C) by amending clause (ii) to read as follows: (ii) Limitation The aggregate amount excluded for a company or companies under clause (i) from the calculation of the outstanding leverage of such company or companies for the purposes of subparagraphs (A) and (B) may not exceed 50 percent of the private capital of such company or companies. ; and (D) by striking clause (iii); and (2) by adding at the end the following new subparagraphs: (E) Annual adjustment The Administrator shall adjust the dollar amounts described in subparagraphs (A) and (B)— (i) on the date of the enactment of this subparagraph, by a percentage equal to the percentage (if any) by which the Consumer Price Index (all items; United States city average), as published by the Bureau of Labor Statistics, increased during the period beginning on the date of the most recent adjustment to each such dollar amount and the date of the enactment of this subparagraph; and (ii) on the date that is one year after the date of the enactment of this subparagraph, and annually thereafter, by a percentage equal to the percentage (if any) by which the Consumer Price Index (all items; United States city average), as published by the Bureau of Labor Statistics, increased during the one-year period preceding the date of the adjustment under this clause. . (b) Report Not later than June 30 of the first year beginning after the date of the enactment of this Act, and annually thereafter, the Administrator of the Small Business Administration shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the results of the exclusion under subparagraph (C) of section 303(b)(2) of the Small Business Investment Act of 1958 ( 15 U.S.C. 683(b)(2) ), as amended by subsection (a), including the economic activity generated and jobs directly and indirectly created by the exclusion.