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HR 3845 106th Congress House Commerce Bonds Capital investments Dividends Economics and Public Finance Federally-guaranteed loans Fees Finance and Financial Sector Government lending Interest rates Loans Partnerships Securities Small business Venture capital

Small Business Investment Corrections Act of 2000

Introduced: March 8, 2000 See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 20, 2000
Received in the Senate and Read twice and referred to the Committee on Small Business.
Mar 14, 2000
Motion to reconsider laid on the table Agreed to without objection.
Mar 14, 2000
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H940-941)
Mar 14, 2000
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H940-941)
Mar 14, 2000
DEBATE - The House proceeded with forty minutes of debate on H.R. 3845.
Mar 14, 2000
Considered under suspension of the rules. (consideration: CR H940-942)
Mar 14, 2000
Mrs. Kelly moved to suspend the rules and pass the bill, as amended.
Mar 14, 2000
Placed on the Union Calendar, Calendar No. 289.
Mar 14, 2000
Reported by the Committee on Small Business. H. Rept. 106-520.
Mar 8, 2000
Referred to the House Committee on Small Business.
Mar 8, 2000
Introduced in House
 Plain-English summary Congressional Research Service
Small Business Investment Corrections Act of 2000 - Amends the Small Business Investment Act of 1958 to: (1) state that certain venture investment in a small business shall not cause such business to be considered not independently owned and operated, regardless of the allocation of control during the investment period; and (2) define as long term, when used in connection with equity capital or loan funds invested in any small business or smaller enterprise, any period of one year or more.

Revises the subsidy fee charged in connection with debentures purchased by the Small Business Administration (SBA) to guarantee loans to participating small businesses from a flat one percent to a charge, established annually by the SBA Administrator, of not more than one percent as necessary to reduce to zero the cost of purchasing and guaranteeing such debentures. Makes an identical revision with respect to the fee charged for securities issued by participating companies for small business loans guaranteed by the SBA.

Authorizes small businesses which are limited partnerships or subchapter S corporations to make quarterly distributions at any time during a calendar quarter (currently, only at the end of a calendar quarter).

What's happening now March 20, 2000

Received in the Senate and Read twice and referred to the Committee on Small Business.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1