US SB1285 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on July 11 2013 - 25% progression, died in committee
Action: 2013-07-11 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 11 2013 - 25% progression, died in committee
Action: 2013-07-11 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Small Business Innovation Act of 2013 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases from $225 million to $350 million the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Direct the Administrator to establish and carry out an early-stage investment program to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection and approval procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of its investments in small businesses, of which at least 50% shall be early-stage small businesses in specified targeted industries. Establishes in the Treasury a separate account for equity financings under the program.
Title
Small Business Innovation Act of 2013
Sponsors
Sen. Tammy Baldwin [D-WI] |
History
Date | Chamber | Action |
---|---|---|
2013-07-11 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Same As/Similar To
HB30 (Related) 2013-01-03 - Referred to House Ways and Means
Subjects
Advanced technology and technological innovations
Agricultural practices and innovations
Alternative and renewable resources
Business investment and capital
Commerce
Computers and information technology
Digital media
Environmental technology
Financial services and investments
Health technology, devices, supplies
Manufacturing
Public-private cooperation
Securities
Small business
Water use and supply
Agricultural practices and innovations
Alternative and renewable resources
Business investment and capital
Commerce
Computers and information technology
Digital media
Environmental technology
Financial services and investments
Health technology, devices, supplies
Manufacturing
Public-private cooperation
Securities
Small business
Water use and supply
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/senate-bill/1285/all-info |
Text | https://www.congress.gov/113/bills/s1285/BILLS-113s1285is.pdf |