Skip to main content
HR 6342 116th Congress House Commerce Business investment and capital Cardiovascular and respiratory health Emergency medical services and trauma care Infectious and parasitic diseases Small business

SBIC Capital Infusion Act of 2020

Introduced: March 23, 2020 Introduced by: Davids, Sharice Democratic · Kansas See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2020
Referred to the House Committee on Small Business.
Mar 23, 2020
Introduced in House
 Plain-English summary Congressional Research Service

SBIC Capital Infusion Act of 2020

This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program.

Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes.

The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.

What's happening now March 23, 2020

Referred to the House Committee on Small Business.

 Committees of jurisdiction 1