SBIC Advisory Committee Act of 2023
- Last Action
- 7/25/2023
Actions
- 2023-07-25Placed on Senate Legislative Calendar under General Orders. Calendar No. 171.
- 2023-07-25Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with amendments. Without written report.
- 2023-07-25Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with amendments. Without written report.
- 2023-07-19Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.
- 2023-06-22Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2023-06-22Introduced in Senate
CRS Summary
As of 2023-07-25 (25)
SBIC Advisory Committee Act of 2023
This bill requires the Small Business Administration (SBA) to establish an advisory committee to develop recommendations for expanding SBA assistance provided through Small Business Investment Companies (SBICs). SBICs are privately owned companies, licensed and regulated by the SBA, which invest in small businesses through debt and equity.
Composed in part of representatives of and partners with small businesses in low-income communities and rural areas, the advisory committee must make recommendations for SBICs to invest in (1) underlicensed and underfinanced states; and (2) small businesses owned by socially or economically disadvantaged individuals, veterans, and women.
Subjects
- Advisory bodies
- Business investment and capital
- Congressional oversight
- Minority and disadvantaged businesses
- Poverty and welfare assistance
- Rural conditions and development
- Small business
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.