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HR 31 113th 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: February 25, 2013 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
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Financial services and investmentsLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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
Oct 23, 2013
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Jan 3, 2013
Referred to the House Committee on Financial Services.
Jan 3, 2013
Introduced in House
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 Latest action October 23, 2013

Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

 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.

 Related & companion bills 1
  • HR 1800 Related bill Small Business Credit Availability Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Meeks, Gregory W.
New York · Feb 25, 2013
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 31: Next Steps for Credit Availability Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-31/
MLA
"H.R. 31: Next Steps for Credit Availability Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-31/.
Bluebook (legal)
H.R. 31, 113th Cong. (2026), https://openamerica.io/bill/113-HR-31/.
Markdown link
[H.R. 31: Next Steps for Credit Availability Act](https://openamerica.io/bill/113-HR-31/)
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