S 2188
116th Congress
Senate
Commerce
Administrative remedies
Business investment and capital
Licensing and registrations
Small Business Administration
Small business
SBIC Licensing Improvement Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 18, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 18, 2019
Introduced in Senate
Plain-English summary
SBIC Licensing Improvement Act
This bill modifies the timeline and creates an appeals process for the approval or disapproval of Small Business Investment Company (SBIC) license applications.
Specifically, when an application to be licensed as an SBIC is approved, the bill requires the Small Business Administration to issue such license within 10 business days. The bill also (1) authorizes an applicant whose application is denied to request a written decision for the disapproval, and (2) establishes an appeals process for such applicant. Lastly, the bill allows a state development company that meets certain qualifications to apply for an SBIC license.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1
Cosponsors
1