Small Business Investor Capital Access Act

Hozzl · 2023-12-15T15:56:51Z

Explore the details of House Bill 2578 Small Business Investor Capital Access Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:56 PM

Summary of Bill HR 2578

Bill 118 HR 2578, also known as the Small Business Investor Capital Access Act, aims to make it easier for small businesses to access capital by expanding the pool of eligible investors. The bill proposes to amend the Small Business Investment Act of 1958 to increase the maximum amount of leverage that the Small Business Administration (SBA) can provide to Small Business Investment Companies (SBICs) from $150 million to $175 million.

Additionally, the bill seeks to streamline the application process for SBICs and reduce the regulatory burden on these small business investors. It also includes provisions to encourage more private sector investment in small businesses by allowing SBICs to issue preferred stock and debt securities.

Overall, the Small Business Investor Capital Access Act aims to stimulate economic growth by providing small businesses with greater access to the capital they need to expand and create jobs. The bill has received bipartisan support in Congress and is seen as a positive step towards supporting small business growth in the United States.

Congressional Summary of HR 2578

Small Business Investor Capital Access Act

This bill requires the Securities and Exchange Commission (SEC) to adjust annually for inflation the dollar amount of an exemption from registration requirements for investment advisors of private funds. Currently, investment advisors of private funds of less than $150 million in assets under management are exempt. The bill would require the SEC to adjust that amount annually based on the change in the Consumer Price Index.

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Current Status of Bill HR 2578

Bill HR 2578 is currently in the status of Bill Introduced since April 13, 2023. Bill HR 2578 was introduced during Congress 118 and was introduced to the House on April 13, 2023. Bill HR 2578's most recent activity was Referred to the House Committee on Financial Services. as of April 13, 2023

Bipartisan Support of Bill HR 2578

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 2578

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 2578

Small Business Investor Capital Access ActSmall Business Investor Capital Access ActTo amend the Investment Advisers Act of 1940 to increase the exemption from registration threshold for certain investment advisers of private funds to reflect the change in inflation.

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