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MicroCap Small Business Investing Act of 2021

USA117th CongressHR-3842| House 
| Updated: 6/11/2021
Joe Neguse

Joe Neguse

Democratic Representative

Colorado

Cosponsors (1)
Young Kim (Republican)

Small Business Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
MicroCap Small Business Investing Act of 2021 This bill authorizes the Small Business Administration (SBA) to issue up to ten Small Business Investment Company (SBIC) licenses each year to certain applicants. An SBIC is a privately owned company, licensed and regulated by the SBA, which invests in small businesses through debt and equity. A license issued under the bill must be awarded to an applicant that would otherwise be issued a license except that the management of the applicant does not satisfy certain qualification requirements such as investment experience; where the fund managers have a documented record of successful business experience, a record of business management success, or knowledge in the particular industry or business in which the investment strategy is being pursued; and that will make at least 25% of its investments in specified areas and businesses (e.g., low-income communities, businesses owned or controlled by individuals in underserved communities, and rural areas). The SBA must prioritize applicants that are located in states with fewer licenses and establish a streamlined application process for those licenses.
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Timeline
Jun 11, 2021
Introduced in House
Jun 11, 2021
Referred to the House Committee on Small Business.
Oct 27, 2021

Latest Companion Bill Action

S 117-1759
Committee on Small Business and Entrepreneurship. Hearings held.
  • June 11, 2021
    Introduced in House


  • June 11, 2021
    Referred to the House Committee on Small Business.


  • October 27, 2021

    Latest Companion Bill Action

    S 117-1759
    Committee on Small Business and Entrepreneurship. Hearings held.

Commerce

Related Bills

  • S 117-1759: MicroCap Small Business Investing Act of 2021
Business investment and capitalEconomic developmentFinancial services and investmentsGovernment information and archivesLicensing and registrationsManufacturingMinority and disadvantaged businessesPoverty and welfare assistanceResearch and developmentRural conditions and developmentSmall business

MicroCap Small Business Investing Act of 2021

USA117th CongressHR-3842| House 
| Updated: 6/11/2021
MicroCap Small Business Investing Act of 2021 This bill authorizes the Small Business Administration (SBA) to issue up to ten Small Business Investment Company (SBIC) licenses each year to certain applicants. An SBIC is a privately owned company, licensed and regulated by the SBA, which invests in small businesses through debt and equity. A license issued under the bill must be awarded to an applicant that would otherwise be issued a license except that the management of the applicant does not satisfy certain qualification requirements such as investment experience; where the fund managers have a documented record of successful business experience, a record of business management success, or knowledge in the particular industry or business in which the investment strategy is being pursued; and that will make at least 25% of its investments in specified areas and businesses (e.g., low-income communities, businesses owned or controlled by individuals in underserved communities, and rural areas). The SBA must prioritize applicants that are located in states with fewer licenses and establish a streamlined application process for those licenses.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 11, 2021
Introduced in House
Jun 11, 2021
Referred to the House Committee on Small Business.
Oct 27, 2021

Latest Companion Bill Action

S 117-1759
Committee on Small Business and Entrepreneurship. Hearings held.
  • June 11, 2021
    Introduced in House


  • June 11, 2021
    Referred to the House Committee on Small Business.


  • October 27, 2021

    Latest Companion Bill Action

    S 117-1759
    Committee on Small Business and Entrepreneurship. Hearings held.
Joe Neguse

Joe Neguse

Democratic Representative

Colorado

Cosponsors (1)
Young Kim (Republican)

Small Business Committee

Commerce

Related Bills

  • S 117-1759: MicroCap Small Business Investing Act of 2021
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalEconomic developmentFinancial services and investmentsGovernment information and archivesLicensing and registrationsManufacturingMinority and disadvantaged businessesPoverty and welfare assistanceResearch and developmentRural conditions and developmentSmall business