SBIC Capital Infusion Act of 2020

Hozzl · 2022-02-08T23:15:18Z

Explore the details of House Bill 6342 SBIC Capital Infusion Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

2/8/2022, 11:15 PM

Congressional Summary of HR 6342

SBIC Capital Infusion Act of 2020

This bill 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.

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Current Status of Bill HR 6342

Bill HR 6342 is currently in the status of Bill Introduced since March 23, 2020. Bill HR 6342 was introduced during Congress 116 and was introduced to the House on March 23, 2020. Bill HR 6342's most recent activity was Referred to the House Committee on Small Business. as of March 23, 2020

Bipartisan Support of Bill HR 6342

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6342

Primary Policy Focus

Commerce

Potential Impact Areas

Business investment and capitalCardiovascular and respiratory healthEmergency medical services and trauma careInfectious and parasitic diseasesSmall business

Alternate Title(s) of Bill HR 6342

SBIC Capital Infusion Act of 2020To amend the Small Business Investment Act of 1958 to provide additional assistance for small businesses affected by the COVID-19 outbreak, and for other purposes.SBIC Capital Infusion Act of 2020

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