Securing Equity for the Economic Development of Low Income Areas Act of 2009
Latest action · Mar 12, 2009 Referred to the Subcommittee on Finance and Tax.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 12, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Securing Equity for the Economic Development of Low Income Areas Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA), in selecting companies to participate in the New Markets Venture Capital Program (Program), to select at least one company from each geographic region of the SBA. Requires (current law authorizes) the Administrator to make grants to such companies to be used for loans to new-market small businesses, and to guarantee debentures issued by such companies.
Establishes the Office of New Markets Venture Capital, headed by a Director, to administer the Program.
Revises the definition of "low income geographic area" for Program eligibility purposes.
Requires a study by the SBA's Chief Counsel for Advocacy on the availability of equity capital in low-income urban and rural areas.
Authorizes operational assistance grants to conditionally approved companies.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Mar 12, 2009 to Mar 16, 2009, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-KY | Harold Rogers | Original | Mar 12, 2009 |
| D-OH | Marcy Kaptur | Original | Mar 12, 2009 |
| D-TN | Steve Cohen | Mar 16, 2009 |
Actions 3
Everything that happened, newest first.
- Mar 12, 2009Introduced in House
- Mar 12, 2009Referred to the House Committee on Small Business.
- Mar 12, 2009Referred to the Subcommittee on Finance and Tax.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Administrative law and regulatory procedures
- Business investment and capital
- Commerce
- Economic development
- Executive agency funding and structure
- Financial services and investments
- Government lending and loan guarantees
- Government studies and investigations
- Manufacturing
- Public contracts and procurement
- Small business
- Small Business Administration
Text 1
Each version as it was printed, newest first.
- Mar 12, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
