S 1917 — Investing in All of America Act of 2025

Bill Text

• Introduced Introduced in Senate Current html May 22, 2025

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill amends the Small Business Investment Act to alter leverage limits and exclusions for certain investments in smaller enterprises in rural or low-income areas and critical technology sectors.

• 15 U.S.C. 683(b)(2)

  300 → 200

  Decreases the leverage limit for small business investment companies from 300% to 200% of their private capital.

• 15 U.S.C. 683(b)(2)

  may not exceed $350,000,000. → may not exceed-- (i) with respect to such companies that are commonly controlled and that make quarterly or semiannual interest payments, $350,000,000, as adjusted in accordance with subparagraph (E); or (ii) $350,000,000 with respect to other such companies that are commonly controlled.

  Revises the maximum leverage limit for commonly controlled companies based on their payment schedule.

• 15 U.S.C. 683(b)(2)(C)

  the cost basis of any investment made by the company in a smaller enterprise; → the cost basis of any investment made by the company or companies in-- (I) a small business concern located in a low-income geographic area (as defined in section 351 of this title) or in a rural area (as defined in section 343(a) of the Agricultural Act of 1961 (7 U.S.C. 1991(a))); (II) a small business concern operating primarily in a covered technology category (as defined in section 149 of title 10, United States Code); or (III) a small manufacturer (as defined in section 501(e) of this Act).

  Expands the definition of eligible investments excluded from the leverage calculation to include certain small businesses and manufacturers.

• 15 U.S.C. 683(b)(2)(C)

  may not exceed the lesser of 50 percent of the private capital of such company or companies or $125,000,000 → may not exceed the lesser of 50 percent of the private capital of such company or companies or $125,000,000;

  Clarifies the maximum amount excluded that can be counted towards leverage calculations.

• 15 U.S.C. 683(b)(2)(C)(iii)

  that are commonly controlled and not under capital impairment may not exceed $475,000,000; → made by such licensee after the date of enactment of this clause.

  Introduces a prospective applicability clause for the exclusion calculation based on enactment date.

• 15 U.S.C. 683(b)(2)

  Annual adjustment.-- Except as provided in subparagraph (F), the Administrator shall adjust the dollar amounts described in subparagraphs (A) and (B)--.

  Adds a mechanism for annual adjustment of leverage limits based on inflation as measured by the Consumer Price Index.

Action History

1. May 22, 2025

   Introduced in Senate

2. May 22, 2025

   Read twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsors

• Roger Marshall · Cosponsor
• Jacky Rosen · Cosponsor
• Cory A. Booker · Cosponsor
• John W. Hickenlooper · Primary

Subjects