Small Business Investment Company Modernization Act of 2011
Latest action · Oct 14, 2011 Referred to the House Committee on Small Business.
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.
- IntroducedOct 14, 2011
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small Business Investment Company Modernization Act of 2011 - Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage that the Small Business Administration (SBA) is authorized to make available to any one small business investment company (SBIC), as a condition to the SBA's purchase or guarantee of debentures or participating securities issued by certain licensed SBICs, if a majority of the managers of a company are experienced in managing at least one such SBIC. Increases the maximum leverage amount for such SBICs to the lesser of: (1) 300% of such company's private capital, or (2) $200 million. (Current law, subject to exceptions, prohibits the maximum amount of such leverage from exceeding the lesser of 300% of private capital or $150 million for any SBIC.)
Increases to $350 million (currently, $225 million) the maximum amount of outstanding leverage that may be made available to two or more SBICs that are commonly controlled and not under capital impairment. Prohibits the material capital impairment of one licensed company in a group under common control from reducing the maximum amounts of outstanding leverage that is made available to the other licensed companies in that group.
Cosponsors 1
Members who signed on, in the order they did. All signed on Apr 18, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MO | Blaine Luetkemeyer | Apr 18, 2012 |
Actions 2
Everything that happened, newest first.
- Oct 14, 2011Introduced in House
- Oct 14, 2011Referred to the House Committee on Small Business.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Oct 14, 2011Introduced 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.