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S. 3515 116th Congress Senate

New Business Preservation Act

Official title: A bill to establish the Innovation and Startups Equity Investment Program in the Department of the Treasury, through which the Secretary of the Treasury shall … Show full official titleShow less

Official title: A bill to establish the Innovation and Startups Equity Investment Program in the Department of the Treasury, through which the Secretary of the Treasury shall allocate money to certain States to assist high-potential scalable startups access venture capital to commercialize innovations, create jobs, and accelerate economic growth, and for other purposes.

Introduced: March 18, 2020 Introduced by: Amy Klobuchar Democratic · Minnesota See on congress.gov
Commerce Accounting and auditingAdvanced technology and technological innovationsAdvisory bodiesBusiness investment and capital
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Congressional oversightDepartment of the TreasuryFinancial services and investmentsGovernment lending and loan guaranteesGovernment studies and investigationsIntergovernmental relationsMinority and disadvantaged businessesProduct development and innovationPublic contracts and procurementSecuritiesSmall businessState and local financeState and local government operationsUser charges and fees
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 18, 2020
Introduced in Senate
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 Latest action March 18, 2020

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

New Business Preservation Act

This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury shall work with states to invest in new businesses.

Specifically, the bill requires Treasury to provide certain funds to participating states, which such states shall use to administer specified approved programs that provide equity investment in new businesses. Certain areas with high levels of venture capital activity are excluded from the calculation of funds allocated to a participating state. Treasury shall also award funds to approved state programs to provide follow-on investments.

If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An exit is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders.

 Related & companion bills 1
  • HR 6403 Identical bill New Business Preservation Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Independent 1
D
Coons, Christopher A.
Delaware · Mar 18, 2020
 D
Kaine, Tim
Virginia · Mar 18, 2020
 I
King, Angus S., Jr.
Maine · Mar 18, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3515: New Business Preservation Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-3515/
MLA
"S. 3515: New Business Preservation Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3515/.
Bluebook (legal)
S. 3515, 116th Cong. (2026), https://openamerica.io/bill/116-S-3515/.
Markdown link
[S. 3515: New Business Preservation Act](https://openamerica.io/bill/116-S-3515/)
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