Week ending July 28, 2017
H.R.2333 – Small Business Investment Opportunity Act of 2017
The bill amends the Small Business Investment Act of 1958 by increasing the Individual Leverage Limit from $150 million to $175 million for those participating in the Small Business Investment Company (SBIC) program.
“The Individual Leverage Limit stipulates how much capital can be deployed to a small business by an SBIC that has only one fund under management. It was last increased in 2009 with the limit increasing from $137 million to the present day limit of $150 million.” With two funds under management the cap is $350 million.
“Since 1958, the Small Business Investment Company (SBIC) program has operated a private-public partnership model, whereby a privately owned and Small Business Administration (SBA) licensed company supplies debt and equity capital to small businesses. The program successfully runs at a zero subsidy rate to the American taxpayer.”
(Full text of H.R. 2333 at congress.gov)
Sponsor: Rep. Knight, Stephen [R-CA-25] (Introduced 05/03/2017)
Status:Passed House /
VOTES and FLOOR ACTION
On Passage: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote
Motion to recommit:
Text of the motion:
COST AND IMPACT
Cost to the taxpayers: Data not available
Pay-as-you-go requirements: Data not available
Regulatory and Other Impact: H.R. 2333 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act, Pub. L. No. 104-4, and would impose no costs on state, local or tribal governments.
Dynamic Scoring: Data not available
Tax Complexity: Not applicable to this bill.
Earmark Certification: Pursuant to clause 9 of rule XXI, H.R. 2333 does not contain any congressional earmarks, limited tax benefits or limited tariff benefits as defined in subsections (d), (e) or (f) of clause 9 of rule XXI of the Rules of the House.
Duplication of programs: Pursuant to clause 3(c) of rule XIII of the Rules of the House, no provision of H.R. 2333 establishes or reauthorizes a program of the federal government known to be duplicative of another federal program
Direct Rule-Making: Pursuant to clause 3(c) of rule XIII of the Rules of the House, H.R. 2333 does not direct any rule making.
Advisory Committee Statement: H.R. 2333 does not establish or authorize the establishment of any new advisory committees as that term is defined in the Federal Advisory Committee Act, 5 U.S.C. App. 2.
Budget Authority: the Committee opines that H.R. 2333 will not establish any new budget or entitlement authority or create any tax expenditures.
Constitutional Authority: Assumed.
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