Legis Daily

Rural Capital Access Act

USA117th CongressS-1058| Senate 
| Updated: 3/25/2021
John Thune

John Thune

Republican Senator

South Dakota

Cosponsors (2)
Jeanne Shaheen (Democratic)Deb Fischer (Republican)

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Rural Capital Access Act This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs. The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.
View Full Text

Suggested Questions

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

Timeline
Mar 25, 2021
Introduced in Senate
Mar 25, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)
Oct 21, 2021

Latest Companion Bill Action

HR 117-5521
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
  • March 25, 2021
    Introduced in Senate


  • March 25, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)


  • October 21, 2021

    Latest Companion Bill Action

    HR 117-5521
    Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Commerce

Related Bills

  • HR 117-5521: Rural Capital Access Act
Advisory bodiesBusiness investment and capitalCongressional oversightExecutive agency funding and structureRural conditions and developmentSecuritiesSmall businessSmall Business Administration

Rural Capital Access Act

USA117th CongressS-1058| Senate 
| Updated: 3/25/2021
Rural Capital Access Act This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs. The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.
View Full Text

Suggested Questions

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

Timeline
Mar 25, 2021
Introduced in Senate
Mar 25, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)
Oct 21, 2021

Latest Companion Bill Action

HR 117-5521
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
  • March 25, 2021
    Introduced in Senate


  • March 25, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)


  • October 21, 2021

    Latest Companion Bill Action

    HR 117-5521
    Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
John Thune

John Thune

Republican Senator

South Dakota

Cosponsors (2)
Jeanne Shaheen (Democratic)Deb Fischer (Republican)

Small Business and Entrepreneurship Committee

Commerce

Related Bills

  • HR 117-5521: Rural Capital Access Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Advisory bodiesBusiness investment and capitalCongressional oversightExecutive agency funding and structureRural conditions and developmentSecuritiesSmall businessSmall Business Administration