SBIC Capital Infusion Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 23, 2020)
SBIC Capital Infusion Act of 2020
This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program.
Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes.
The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.
What just happenedMar 23, 2020
Referred to the House Committee on Small Business.
Who’s behind it
- Introduced in HouseMar 23, 2020
- Mar 23, 2020IntroReferralH11100
Referred to the House Committee on Small Business.
Small Business Committee - Mar 23, 2020IntroReferralIntro-H
Introduced in House
- Mar 23, 2020IntroReferral1000
Introduced in House