US Congress Senate Bill 1831 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on October 21 2009 - 25% progression, died in chamber
Action: 2009-10-21 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Text: Latest bill text (Introduced) [PDF]

Small Business Venture Capital Act of 2009 - Amends the Small Business Act to reauthorize for FY2010-FY2013 the venture capital program under the Small Business Investment Act of 1958 (a program under which small business investment companies (SBICs) provide capital financing to small businesses). Increases the maximum amounts of outstanding leverage made available to SBICs that invest in women-owned or minority businesses. Allows SBICs who were licensed as participating securities SBICs prior to October 1, 2004, to obtain leverage based on Small Business Administration (SBA)-approved commitments rather than paid-in capital. Increases from 20% to 30% of total available private capital the maximum authorized SBIC investment in a single business (absent specific SBA approval). Requires the SBA Administrator, in selecting investment companies to participate in the New Markets Venture Capital program (NMVC program) (investment in small businesses in low-income areas), to select at least one company from each SBA geographic region. Requires the Administrator to have as a goal to enter into at least one NMVC program agreement with a company engaged primarily in the development of and investment in small manufacturers. Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code. Requires the Administrator to prescribe standard documents for an application for final approval of a company under the NMVC program. Allows NMVC companies to receive operational assistance grants. Requires the Administrator to grant each conditionally-approved NMVC company up to two years to raise the $5 million in private capital required for participation. Reauthorizes the NMVC program for FY2010-FY2013. Reduces the authorization for operational assistance grants.

Small Business Venture Capital Act of 2009

Sen. John Kerry [D-MA]

Date	Chamber	Action
2009-10-21		Read twice and referred to the Committee on Small Business and Entrepreneurship.
2009-10-21		Sponsor introductory remarks on measure. (CR S10643)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1831/all-info
Text	https://www.congress.gov/111/bills/s1831/BILLS-111s1831is.pdf