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Bill114th CongressFiled Apr 21, 2016Commerce
S. 2831

A bill to amend the Small Business Investment Act of 1958 to provide priority for applicants for a license to operate as a small business investment company that are located in a disaster area.

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to senate with amendment(s) (May 24, 2016)

(Sec. 1) This bill amends the Small Business Investment Act of 1958 to require the Small Business Administration (SBA) to give priority to small business investment company (SBIC) applications for licenses to operate in a declared major disaster area.

In calculating the outstanding leverage (debt) of one or more licensed SBICs in view of the maximum leverage allowed for debenture or loan guarantee purposes, the SBA shall not include the cost basis of any investment made by an SBIC in a small business concern in a major disaster area during the one-year period beginning on the date of the disaster declaration.

What just happenedMay 24, 2016

Placed on Senate Legislative Calendar under General Orders. Calendar No. 481.

Who’s behind it

Sen. Vitter, David [R-LA](R-LA)Sponsor
Read on Congress.gov
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  1. May 24, 2016Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 481.

  2. May 24, 2016Committee

    Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with an amendment in the nature of a substitute. Without written report.

    Small Business and Entrepreneurship Committee
  3. May 24, 2016Committee14000

    Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with an amendment in the nature of a substitute. Without written report.

    Small Business and Entrepreneurship Committee
  4. May 11, 2016Committee

    Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Small Business and Entrepreneurship Committee
  5. Apr 21, 2016IntroReferral

    Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Small Business and Entrepreneurship Committee
  6. Apr 21, 2016IntroReferral10000

    Introduced in Senate

Reported to Senate with amendment(s)May 24, 20161

(Sec. 1) This bill amends the Small Business Investment Act of 1958 to require the Small Business Administration (SBA) to give priority to small business investment company (SBIC) applications for licenses to operate in a declared major disaster area.

In calculating the outstanding leverage (debt) of one or more licensed SBICs in view of the maximum leverage allowed for debenture or loan guarantee purposes, the SBA shall not include the cost basis of any investment made by an SBIC in a small business concern in a major disaster area during the one-year period beginning on the date of the disaster declaration.

Introduced in SenateApr 21, 2016

This bill amends the Small Business Investment Act of 1958 to require the Small Business Administration to give priority to small business investment company applications for licenses to operate in a declared major disaster area.

A bill to amend the Small Business Investment Act of 1958 to provide priority for applican… — Informed