S 2324
115th Congress
Senate
Finance and Financial Sector
Small Business Credit Availability Act
Introduced: January 18, 2018
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 18, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 18, 2018
Introduced in Senate
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
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1