Investing in Main Street Act of 2017
Latest action · Jul 25, 2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedMay 4, 2017
- Passed HouseJul 24, 2017
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)
Investing in Main Street Act of 2017
(Sec. 2) This bill amends the Small Business Investment Act of 1958 to increase from 5% to 15% of its capital and surplus, the amount a national bank, a member bank of the Federal Reserve System, a nonmember insured bank (to the extent permitted under applicable state law), or a federal savings association may invest in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs. The increase is subject to the approval of the appropriate federal banking agency.
Cosponsors 2
Members who signed on, in the order they did. All signed on May 4, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Grace Meng | Original | May 4, 2017 |
| R-CA | Stephen Knight | Original | May 4, 2017 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred May 4, 2017Markup Jun 15, 2017Reported Jul 12, 2017 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Jul 25, 2017 |
Actions 12
Everything that happened, newest first.
- Jul 25, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jul 24, 2017Mr. Chabot moved to suspend the rules and pass the bill.
- Jul 24, 2017Considered under suspension of the rules. (consideration: CR H6181-6183)
- Jul 24, 2017DEBATE - The House proceeded with forty minutes of debate on H.R. 2364.
- Jul 24, 2017Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6181-6182)
- Jul 24, 2017Motion to reconsider laid on the table Agreed to without objection.
- Jul 12, 2017Reported by the Committee on Small Business. H. Rept. 115-216.
- Jul 12, 2017Placed on the Union Calendar, Calendar No. 152.
- Jun 15, 2017Committee Consideration and Mark-up Session Held.
- Jun 15, 2017Ordered to be Reported.
- May 4, 2017Introduced in House
- May 4, 2017Referred to the House Committee on Small Business.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H6181–H6183Text printed H6181 | Alma S. Adams D-NC, Judy Chu D-CA, Sheila Jackson Lee D-TX, Steve Chabot R-OH | Jul 24, 2017 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Jul 19, 2017H.R. 2364, Investing in Main Street Act of 2017As reported by the House Committee on Small Business on July 12, 2017
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 77, May 4, 2017, page H4179.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| H.A.S.C. No. 115-96 | Member Day89 pages | Armed Services Committee | Apr 11, 2018 |
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IN10950 | Financial Services and General Government (FSGG) FY2019 Appropriations and Financial Regulatory Reform Archived | Insight | Nov 27, 2018 |
| R45308 | JOBS and Investor Confidence Act (House-Amended S. 488): Capital Markets Provisions Archived | Report | Sep 7, 2018 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 116 | Investing in Main Street Act of 2019 | Reintroduced Bill | Jan 15, 2019 |
| S 488 | Encouraging Employee Ownership Act | Related bill | Jul 18, 2018 |
| HR 5515 | John S. McCain National Defense Authorization Act for Fiscal Year 2019 | Related bill | Aug 13, 2018 |
| HR 6147 | Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019 | Related bill | Sep 7, 2018 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.
- Short Titles as Introduced
- Investing in Main Street Act of 2017
- Short Titles as Reported to House
- Investing in Main Street Act of 2017
- Short Titles as Passed House
- Investing in Main Street Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 4
Each version as it was printed, newest first.
- Jul 25, 2017Referred in Senate
- Jul 24, 2017Engrossed in House
- Jul 12, 2017Reported in House
- May 4, 2017Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
