To amend the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration the authority to increase amount of commitments to qualified State or local development companies, and for other purposes.

Bill 118 hr 10245, also known as the Small Business Investment Act Amendment, aims to give the Administrator of the Small Business Administration the power to raise the amount of commitments to qualified State or local development companies. This bill seeks to provide more support and resources to small businesses by allowing these development companies to receive increased funding from the Small Business Administration.

The main goal of this legislation is to help small businesses grow and thrive by providing them with the necessary financial assistance. By allowing the Administrator of the Small Business Administration to increase the amount of commitments to these development companies, more small businesses will have access to the funding they need to expand and create jobs.

In addition to increasing funding for small businesses, this bill also includes provisions for other purposes that aim to further support and promote the growth of small businesses. Overall, the Small Business Investment Act Amendment is designed to strengthen the small business sector and boost economic growth in the United States.