US Congress House Bill 6342 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 23 2020 - 25% progression, died in committee
Action: 2020-03-23 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

Provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program. Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes. The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.

SBIC Capital Infusion Act of 2020

Rep. Sharice Davids [D-KS]

Date	Chamber	Action
2020-03-23	House	Referred to the House Committee on Small Business.
2020-03-23	House	Introduced in House

HB6312 (Related) 2020-03-19 - Referred to the House Committee on Small Business.
HB6379 (Related) 2020-03-23 - Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6342/all-info
Text	https://www.congress.gov/116/bills/hr6342/BILLS-116hr6342ih.pdf