Main Street Parity Act

The Main Street Parity Act proposes to amend the Small Business Investment Act of 1958, focusing on the criteria governing loans for plant acquisition, construction, conversion, or expansion. This legislation aims to revise the conditions and requirements that small businesses must meet to qualify for these particular types of financing. Specifically, the bill modifies Section 502(3)(C) of the Act by striking clauses (ii) and (iii) , and then redesignating clause (iv) as clause (ii). A necessary conforming amendment is also included to update references in Section 502(3)(B)(ii), thereby directly changing the statutory framework for these small business loans.