United States 112th Congress Status: Died 1 R cosponsors

HR 3219 — Small Business Investment Company Modernization Act of 2011

Last action — Referred to the House Committee on Small Business.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Small Business Investment Company Modernization Act of 2011 - Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage that the Small Business Administration (SBA) is authorized to make available to any one small business investment company (SBIC), as a condition to the SBA's purchase or guarantee of debentures or participating securities issued by certain licensed SBICs, if a majority of the managers of a company are experienced in managing at least one such SBIC. Increases the maximum leverage amount for such SBICs to the lesser of: (1) 300% of such company's private capital, or (2) $200 million. (Current law, subject to exceptions, prohibits the maximum amount of such leverage from exceeding the lesser of 300% of private capital or $150 million for any SBIC.) Increases to $350 million (currently, $225 million) the maximum amount of outstanding leverage that may be made available to two or more SBICs that are commonly controlled and not under capital impairment. Prohibits the material capital impairment of one licensed company in a group under common control from reducing the maximum amounts of outstanding leverage that is made available to the other licensed companies in that group.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 3219 on the official United States source →

Action History

  1. Referred to the House Committee on Small Business.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

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Frequently asked questions

What does HR 3219 do?
Small Business Investment Company Modernization Act of 2011 - Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage that the Small Business Administration (SBA) is authorized to make available to any one small business investment company (SBIC), as a condition to the SBA's purchase or guarantee of debentures or participating securities issued by certain licensed SBICs, if a majority of the managers of a company are experienced in managing at least one such SBIC. Increases the maximum leverage amount for such SBICs to the lesser of: (1) 300% of such company's private capital, or (2) $200 million. (Current law, subject to exceptions, prohibits the maximum amount of such leverage from exceeding the lesser of 300% of private capital or $150 million for any SBIC.) Increases to $350 million (currently, $225 million) the maximum amount of outstanding leverage that may be made available to two or more SBICs that are commonly controlled and not under capital impairment. Prohibits the material capital impairment of one licensed company in a group under common control from reducing the maximum amounts of outstanding leverage that is made available to the other licensed companies in that group.
Who sponsors HR 3219?
HR 3219 is sponsored by Steve Chabot (R).
What is the current status of HR 3219?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 3219?
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