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S 1058 117th Congress Senate Commerce Advisory bodies Business investment and capital Congressional oversight Executive agency funding and structure Rural conditions and development Securities Small Business Administration Small business

Rural Capital Access Act

Introduced: March 25, 2021 Introduced by: Thune, John Republican · South Dakota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 25, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)
Mar 25, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

Rural Capital Access Act

This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs.

The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.

What's happening now March 25, 2021

Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1