116-hr-6342116th Congress

SBIC Capital Infusion Act of 2020

Sponsored By: Representative Davids, Sharice [D-KS-3]

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Summary

SBIC Capital Infusion Act of 2020 This bill provides economic assistance to small businesses affected by COVID-19 (i.e., coronavirus disease 2019), and it reestablishes the New Markets Venture Capital Program. Specifically, the bill provides additional leverage for small business investment companies (SBICs) by requiring the Small Business Administration (SBA), when calculating the maximum amount of outstanding leverage made available to SBICs, to exclude a certain amount of outstanding leverage to small businesses affected by COVID-19. Any excluded amounts must be used solely for working capital purposes. The bill also reestablishes the New Markets Venture Capital Program, through which the SBA, in partnership with investment companies, encourages developmental venture capital investment in small businesses located in low-income areas.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Davids, Sharice [D-KS-3]

KS • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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