This bill amends the Small Business Investment Act of 1958 to revise the rules governing Small Business Investment Companies (SBICs). Its primary goal is to encourage investment in underserved areas and strategic industries by allowing certain investments to be excluded from an SBIC's maximum leverage calculation. Specifically, SBICs can now exclude investments made in small business concerns located in low-income or rural areas , those operating in critical technology categories , and small manufacturers . This exclusion from leverage limits is capped at the lesser of 50 percent of the SBIC's private capital or $125,000,000, and only applies to investments made after the bill's enactment. The legislation also adjusts the maximum leverage dollar amounts for individual and commonly controlled SBICs, with these amounts subject to annual adjustment based on the Consumer Price Index . Furthermore, it refines the definition of "private capital" to include certain institutional investors like college endowments while excluding most government funds for leverage approval purposes.