HR 5969
114th Congress
House
Commerce
Bank accounts, deposits, capital
Banking and financial institutions regulation
Business investment and capital
Small business
Investing in Main Street Act of 2016
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 8, 2016
Referred to the House Committee on Small Business.
Sep 8, 2016
Introduced in House
Plain-English summary
Investing in Main Street Act of 2016
This bill amends the Small Business Investment Act of 1958 to increase from 5% to 15% of its capital and surplus, the amount a national bank, a member bank of the Federal Reserve System, a nonmember insured bank (to the extent permitted under applicable state law), or a federal savings association may invest in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs. The increase is subject to the approval of the appropriate federal banking agency.
What's happening now
Referred to the House Committee on Small Business.
Committees of jurisdiction
1