HR 4267
115th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Business investment and capital
Financial services and investments
Government information and archives
Licensing and registrations
Securities
Securities and Exchange Commission (SEC)
Small business
Small Business Credit Availability Act
Introduced: November 7, 2017
See on congress.gov
Everywhere this bill has been
7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 24, 2018
Placed on the Union Calendar, Calendar No. 495.
Apr 24, 2018
Reported by the Committee on Financial Services. H. Rept. 115-646.
Nov 15, 2017
Ordered to be Reported by the Yeas and Nays: 58 - 2.
Nov 15, 2017
Committee Consideration and Mark-up Session Held.
Nov 7, 2017
Referred to the House Committee on Financial Services.
Nov 7, 2017
Introduced in House
Nov 3, 2017
Hearings Held by the Subcommittee on Capital Markets Prior to Introduction and Referral.
Plain-English summary
Small Business Credit Availability Act
This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable).
The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.
What's happening now
Placed on the Union Calendar, Calendar No. 495.
Committees of jurisdiction
2