SBIC Licensing Improvement Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 18, 2019)
SBIC Licensing Improvement Act
This bill modifies the timeline and creates an appeals process for the approval or disapproval of Small Business Investment Company (SBIC) license applications.
Specifically, when an application to be licensed as an SBIC is approved, the bill requires the Small Business Administration to issue such license within 10 business days. The bill also (1) authorizes an applicant whose application is denied to request a written decision for the disapproval, and (2) establishes an appeals process for such applicant. Lastly, the bill allows a state development company that meets certain qualifications to apply for an SBIC license.
What just happenedJul 18, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateJul 18, 2019
- Jul 18, 2019IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - Jul 18, 2019IntroReferral10000
Introduced in Senate