US Congress Senate Bill 3253 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on May 24 2012 - 25% progression, died in committee
Action: 2012-05-24 - 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]

Expanding Access to Capital for Entrepreneurial Leaders Act or EXCEL Act - 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 the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Authorizes annual inflationary adjustments of such limits. Directs the Administrator to make publicly available on the SBA website specified fiscal and related information with respect to each SBIC. Allows SBIC licensing fees to be used by the SBA for SBIC program needs other than the costs of licensing examinations. Expresses the sense of Congress that SBICs would benefit from partnerships with community banks and other lenders, and that the Administrator should: (1) increase outreach to such banks and lenders for investment in SBICs; (2) use the Internet to publicize which SBICs are soliciting and making investments in small businesses; (3) partner with governors, mayors, states, and municipalities to increase outreach by SBICs to underserved and rural areas; and (4) revise and update the SBIC program webpage to make it more prominent and user-friendly.

EXCEL Act

Sen. Mary Landrieu [D-LA]

Sen. Olympia Snowe [R-ME]

Date	Chamber	Action
2012-05-24	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.
2012-05-24	Senate	Sponsor introductory remarks on measure. (CR S3638-3639)

SB3442 (Related) 2012-11-29 - Committee on Small Business and Entrepreneurship. Hearings held.
SB3572 (Related) 2012-09-19 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3253/all-info
Text	https://www.congress.gov/112/bills/s3253/BILLS-112s3253is.pdf