Spurring Business in Communities Act of 2017

Bill: 115-hr-4111
Sponsor: full_name: Rep. McMorris Rodgers, Cathy [R-WA-5]
Introduced: 2017-10-24
Policy area: Commerce
Subjects: Business investment and capital

Licensing and registrations

Small business
Latest action: action_date: 2018-12-19
text: Became Public Law No: 115-333.

Summaries:
action_date: 2017-10-24
action_desc: Introduced in House
text: <p><b>Spurring Business in Communities Act of 2017</b></p> <p>This bill amends the Small Business Investment Act of 1958 to:</p> <ul> <li> require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and</li> <li>exempt applicants in underlicensed states from certain SBA capital requirements.</li></ul>

action_date: 2018-05-08
action_desc: Passed House without amendment
text: <p><b>Spurring Business in Communities Act of 2017</b></p> <p>(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:</p> <ul> <li> require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and</li> <li>exempt applicants in underlicensed states from certain SBA capital requirements.</li></ul>

action_date: 2018-12-19
action_desc: Public Law
text: <p><b>Spurring Business in Communities Act of 2017</b></p> <p>(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:</p> <ul> <li> require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and</li> <li>exempt applicants in underlicensed states from certain SBA capital requirements.</li></ul>

tv_txt: I 115th CONGRESS 1st Session H. R. 4111 IN THE HOUSE OF REPRESENTATIVES October 24, 2017 Mrs. McMorris Rodgers 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 improve the number of small business investment companies in underlicensed States, and for other purposes.

1. Short title This Act may be cited as the Spurring Business in Communities Act of 2017 . 2. Improving the number of small business investment companies in underlicensed States The Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq.) is amended— (1) in section 103 ( 15 U.S.C. 662 )— (A) in paragraph (18)(E), by striking and at the end; (B) in paragraph (19), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (20) the term underlicensed State means a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator. ; (2) in section 301(c) ( 15 U.S.C. 681(c) )— (A) in paragraph (3)— (i) in subparagraph (B)(iii), by striking and at the end; (ii) in subparagraph (C), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (D) shall give first priority to an applicant that is located in an underlicensed State with below median financing, as determined by the Administrator. ; and (B) in paragraph (4)(B)— (i) by striking clause (i); (ii) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and (iii) by amending clause (i), as so redesignated, to read as follows: (i) is located in a State that— (I) is not served by a licensee; or (II) is an underlicensed State; and ; and (3) in section 308(g) ( 15 U.S.C. 687(g) )— (A) in paragraph (2)— (i) in subparagraph (B), by inserting and licensing after financing ; (ii) by redesignating subparagraphs (C) through (J) as subparagraphs (E) through (L), respectively; and (iii) by inserting after subparagraph (B) the following: (C) Steps taken by the Administration to improve the number of licensees in underlicensed States. (D) The Administration's plans to support States that seek to increase the number of licensees in the State. ; and (B) in paragraph (3)— (i) in subparagraph (C), by striking and at the end; (ii) in subparagraph (D), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (E) the geographic dispersion of licensees in each State compared to the population of the State, identifying underlicensed States. .

tv_txt: I 115th CONGRESS 2d Session H. R. 4111 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Small Business Investment Act of 1958 to improve the number of small business investment companies in underlicensed States, and for other purposes.

1. Short title This Act may be cited as the Spurring Business in Communities Act of 2017 . 2. Improving the number of small business investment companies in underlicensed States The Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq.) is amended— (1) in section 103 ( 15 U.S.C. 662 )— (A) in paragraph (18)(E), by striking and at the end; (B) in paragraph (19), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (20) the term underlicensed State means a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator. ; (2) in section 301(c) ( 15 U.S.C. 681(c) )— (A) in paragraph (3)— (i) in subparagraph (B)(iii), by striking and at the end; (ii) in subparagraph (C), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (D) shall give first priority to an applicant that is located in an underlicensed State with below median financing, as determined by the Administrator. ; and (B) in paragraph (4)(B)— (i) by striking clause (i); (ii) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and (iii) by amending clause (i), as so redesignated, to read as follows: (i) is located in a State that— (I) is not served by a licensee; or (II) is an underlicensed State; and ; and (3) in section 308(g) ( 15 U.S.C. 687(g) )— (A) in paragraph (2)— (i) in subparagraph (B), by inserting and licensing after financing ; (ii) by redesignating subparagraphs (C) through (J) as subparagraphs (E) through (L), respectively; and (iii) by inserting after subparagraph (B) the following: (C) Steps taken by the Administration to improve the number of licensees in underlicensed States. (D) The Administration's plans to support States that seek to increase the number of licensees in the State. ; and (B) in paragraph (3)— (i) in subparagraph (C), by striking and at the end; (ii) in subparagraph (D), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (E) the geographic dispersion of licensees in each State compared to the population of the State, identifying underlicensed States. .

Passed the House of Representatives May 8, 2018. Karen L. Haas, Clerk.

tv_txt: II Calendar No. 402 115th CONGRESS 2d Session H. R. 4111 IN THE SENATE OF THE UNITED STATES May 9, 2018 Received; read twice and placed on the calendar AN ACT To amend the Small Business Investment Act of 1958 to improve the number of small business investment companies in underlicensed States, and for other purposes.

1. Short title This Act may be cited as the Spurring Business in Communities Act of 2017 . 2. Improving the number of small business investment companies in underlicensed States The Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq.) is amended— (1) in section 103 ( 15 U.S.C. 662 )— (A) in paragraph (18)(E), by striking and at the end; (B) in paragraph (19), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (20) the term underlicensed State means a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator. ; (2) in section 301(c) ( 15 U.S.C. 681(c) )— (A) in paragraph (3)— (i) in subparagraph (B)(iii), by striking and at the end; (ii) in subparagraph (C), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (D) shall give first priority to an applicant that is located in an underlicensed State with below median financing, as determined by the Administrator. ; and (B) in paragraph (4)(B)— (i) by striking clause (i); (ii) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and (iii) by amending clause (i), as so redesignated, to read as follows: (i) is located in a State that— (I) is not served by a licensee; or (II) is an underlicensed State; and ; and (3) in section 308(g) ( 15 U.S.C. 687(g) )— (A) in paragraph (2)— (i) in subparagraph (B), by inserting and licensing after financing ; (ii) by redesignating subparagraphs (C) through (J) as subparagraphs (E) through (L), respectively; and (iii) by inserting after subparagraph (B) the following: (C) Steps taken by the Administration to improve the number of licensees in underlicensed States. (D) The Administration's plans to support States that seek to increase the number of licensees in the State. ; and (B) in paragraph (3)— (i) in subparagraph (C), by striking and at the end; (ii) in subparagraph (D), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (E) the geographic dispersion of licensees in each State compared to the population of the State, identifying underlicensed States. .

Passed the House of Representatives May 8, 2018. Karen L. Haas, Clerk.

May 9, 2018 Received; read twice and placed on the calendar

tv_txt: I One Hundred Fifteenth Congress of the United States of America At the Second Session Begun and held at the City of Washington on Wednesday, the third day of January, two thousand and eighteen H. R. 4111 AN ACT To amend the Small Business Investment Act of 1958 to improve the number of small business investment companies in underlicensed States, and for other purposes.

1. Short title This Act may be cited as the Spurring Business in Communities Act of 2017 . 2. Improving the number of small business investment companies in underlicensed States The Small Business Investment Act of 1958 ( 15 U.S.C. 661 et seq.) is amended— (1) in section 103 ( 15 U.S.C. 662 )— (A) in paragraph (18)(E), by striking and at the end; (B) in paragraph (19), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (20) the term underlicensed State means a State in which the number of licensees per capita is less than the median number of licensees per capita for all States, as calculated by the Administrator. ; (2) in section 301(c) ( 15 U.S.C. 681(c) )— (A) in paragraph (3)— (i) in subparagraph (B)(iii), by striking and at the end; (ii) in subparagraph (C), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (D) shall give first priority to an applicant that is located in an underlicensed State with below median financing, as determined by the Administrator. ; and (B) in paragraph (4)(B)— (i) by striking clause (i); (ii) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and (iii) by amending clause (i), as so redesignated, to read as follows: (i) is located in a State that— (I) is not served by a licensee; or (II) is an underlicensed State; and ; and (3) in section 308(g) ( 15 U.S.C. 687(g) )— (A) in paragraph (2)— (i) in subparagraph (B), by inserting and licensing after financing ; (ii) by redesignating subparagraphs (C) through (J) as subparagraphs (E) through (L), respectively; and (iii) by inserting after subparagraph (B) the following: (C) Steps taken by the Administration to improve the number of licensees in underlicensed States. (D) The Administration's plans to support States that seek to increase the number of licensees in the State. ; and (B) in paragraph (3)— (i) in subparagraph (C), by striking and at the end; (ii) in subparagraph (D), by striking the period at the end and inserting ; and ; and (iii) by adding at the end the following: (E) the geographic dispersion of licensees in each State compared to the population of the State, identifying underlicensed States. .

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.