Skip to main content
HR 5929 112th Congress House

Next Steps for Credit Availability Act

Official title: To amend the Investment Company Act of 1940 to change the asset coverage ratio and treatment of preferred stock for business development companies, to allow bu… Show full official titleShow less

Official title: To amend the Investment Company Act of 1940 to change the asset coverage ratio and treatment of preferred stock for business development companies, to allow business development companies to purchase, otherwise acquire, or hold certain securities, and to direct the Securities and Exchange Commission to revise rules under the Securities Act of 1933 relating to business development companies.

Introduced: June 8, 2012 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationBusiness investment and capitalBusiness records
More subjectsShow fewer subjects
Financial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)
Sign in to write a letter Sign in to watch
This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 11, 2012
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Jun 8, 2012
Referred to the House Committee on Financial Services.
Jun 8, 2012
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action July 11, 2012

Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

 Plain-English summary Congressional Research Service

Next Steps for Credit Availability Act - Amends the Investment Company Act of 1940 to allow a business development company (BDC) to own or acquire securities or other interests in the business of a registered investment adviser or adviser to an investment company.

Reduces from 200% to 150% the asset coverage requirements applicable to BDCs. Allows a BDC to issue stock.

Directs the Securities and Exchange Commission (SEC) to revise various rules under the Securities Act of 1933 and to revise forms as necessary to allow a BDC to use security offering rules available to other issuers that are required to file security issuance reports under the Securities Exchange Act of 1934.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5929: Next Steps for Credit Availability Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-5929/
MLA
"H.R. 5929: Next Steps for Credit Availability Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-5929/.
Bluebook (legal)
H.R. 5929, 112th Cong. (2026), https://openamerica.io/bill/112-HR-5929/.
Markdown link
[H.R. 5929: Next Steps for Credit Availability Act](https://openamerica.io/bill/112-HR-5929/)
Report a problem