Spurring Business in Communities Act of 2018
United States115th CongressS-1995Senate
Latest legislative activity: Dec 20, 2018
Summary
Official Summary
Spurring Business in Communities Act of 2018
(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:
- require the Small Business Administration (SBA), in reviewing and processing an entity's application to become a small business investment company (SBIC), to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and
- exempt applicants in underlicensed states from certain SBA capital requirements.
Bill texts
All available records shown.
Timeline
Latest companion bill action
HR-4111: Spurring Business in Communities Act of 2017Signed by President.
Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
Senate
Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment. Without written report.
Senate
Placed on Senate Legislative Calendar under General Orders. Calendar No. 350.
Senate
By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-449.
Senate