United States 113th Congress Status: Died 1 D cosponsors

S 1285 — Small Business Innovation Act of 2013

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

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

This bill died with 113th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Innovation Act of 2013 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases from $225 million to $350 million the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Direct the Administrator to establish and carry out an early-stage investment program to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection and approval procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of its investments in small businesses, of which at least 50% shall be early-stage small businesses in specified targeted industries. Establishes in the Treasury a separate account for equity financings under the program.

Bill Text

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

Read S 1285 on the official United States source →

Action History

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

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

finance labor technology agriculture
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Frequently asked questions

What does S 1285 do?
Small Business Innovation Act of 2013 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases from $225 million to $350 million the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Direct the Administrator to establish and carry out an early-stage investment program to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection and approval procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of its investments in small businesses, of which at least 50% shall be early-stage small businesses in specified targeted industries. Establishes in the Treasury a separate account for equity financings under the program.
Who sponsors S 1285?
S 1285 is sponsored by Tammy Baldwin (D).
What is the current status of S 1285?
This bill died with 113th 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 S 1285?
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