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HOUSE 5333118th CongressReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Investing in All of America Act of 2023

Last Action
4/30/2024

Actions

  • 2024-04-30Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • 2024-04-29Motion to reconsider laid on the table Agreed to without objection.
  • 2024-04-29On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2640)
  • 2024-04-29Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2640)
  • 2024-04-29DEBATE - The House proceeded with forty minutes of debate on H.R. 5333.
  • 2024-04-29Considered under suspension of the rules. (consideration: CR H2639-2642)
  • 2024-04-29Mr. Williams (TX) moved to suspend the rules and pass the bill, as amended.
  • 2024-04-26Placed on the Union Calendar, Calendar No. 388.
  • 2024-04-26Reported (Amended) by the Committee on Small Business. H. Rept. 118-469.
  • 2024-04-26Reported (Amended) by the Committee on Small Business. H. Rept. 118-469.
  • 2024-04-17Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 23 - 0.
  • 2024-04-17Committee Consideration and Mark-up Session Held
  • 2023-09-01Referred to the House Committee on Small Business.
  • 2023-09-01Introduced in House
  • 2023-09-01Introduced in House

CRS Summary

As of 2024-04-29 (53)

Investing in All of America Act of 2023

This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.

Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill also includes in the amounts that may be excluded from the calculation of the financing limit the amounts an SBIC invests in small businesses in rural areas or areas of critical technology. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC. The bill indexes the limit to inflation.

Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested in the trust or endowment of a college or university.

The SBA must report annually on the economic activity and jobs directly and indirectly resulting from the exclusion.

Cosponsors (15)

  • Hillary Scholten (D-MI)
  • Donald Davis (D-NC)
  • Mark Alford (R-MO)
  • Young Kim (R-CA)
  • Zachary Nunn (R-IA)
  • Blaine Luetkemeyer (R-MO)
  • Sharice Davids (D-KS)
  • Josh Gottheimer (D-NJ)
  • Andy Barr (R-KY)
  • Greg Landsman (D-OH)
  • Andrew Garbarino (R-NY)
  • Erin Houchin (R-IN)
  • Byron Donalds (R-FL)
  • Nick LaLota (R-NY)
  • Brian Fitzpatrick (R-PA)

Subjects

  • Business investment and capital
  • Congressional oversight
  • Inflation and prices
  • Rural conditions and development
  • Small business
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.