S. 2324
Referred to CommitteeSmall Business Credit Availability Act
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
1/18/2018 • Senate
Summary
Small Business Credit Availability Act
This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable).
The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.
Introduced in Senate • 1/18/2018
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (18)
Party Breakdown
Sponsor
Cosponsors (17)
Bill Journey
Originated in the Senate
Introduced
January 18, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law