Small Business Credit Availability Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jan 18, 2018)
Small Business Credit Availability Act
This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable).
The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.
What just happenedJan 18, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateJan 18, 2018
- Jan 18, 2018IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Jan 18, 2018IntroReferral10000
Introduced in Senate