[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 511 Reported in Senate (RS)]
Calendar No. 168
113th CONGRESS
1st Session
S. 511
[Report No. 113-90]
To amend the Small Business Investment Act of 1958 to enhance the Small
Business Investment Company Program, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 11, 2013
Ms. Landrieu (for herself, Mr. Cardin, and Mr. Cowan) introduced the
following bill; which was read twice and referred to the Committee on
Small Business and Entrepreneurship
September 10, 2013
Reported by Ms. Landrieu, with an amendment
[Omit the part struck through]
_______________________________________________________________________
A BILL
To amend the Small Business Investment Act of 1958 to enhance the Small
Business Investment Company Program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Expanding Access to Capital for
Entrepreneurial Leaders Act'' or the ``EXCEL Act''.
SEC. 2. PROGRAM AUTHORIZATION.
Section 303(b) of the Small Business Investment Act of 1958 (15
U.S.C. 683(b)) is amended, in the matter preceding paragraph (1), in
the first sentence, by inserting after ``issued by such companies'' the
following: ``, in a total amount that does not exceed $4,000,000,000
each fiscal year (adjusted annually to reflect increases in the
Consumer Price Index established by the Bureau of Labor Statistics of
the Department of Labor)''.
SEC. 3. FAMILY OF FUNDS.
Section 303(b)(2)(B) of the Small Business Investment Act of 1958
(15 U.S.C. 683(b)(2)(B)) is amended by striking ``$225,000,000'' and
inserting ``$350,000,000''.
<DELETED>SEC. 4. ADJUSTMENT FOR INFLATION.</DELETED>
<DELETED> Section 303(b)(2) of the Small Business Investment Act of
1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the
following:</DELETED>
<DELETED> ``(E) Adjustments.--</DELETED>
<DELETED> ``(i) In general.--The dollar
amounts in subparagraph (A)(ii), subparagraph
(B), and subparagraph (C)(ii)(I) shall be
adjusted annually to reflect increases in the
Consumer Price Index established by the Bureau
of Labor Statistics of the Department of Labor
(in this subparagraph referred to as the
`CPI').</DELETED>
<DELETED> ``(ii) Applicability.--The
adjustments required by clause (i)--</DELETED>
<DELETED> ``(I) with respect to
dollar amounts in subparagraphs (A)(ii)
and (C)(ii)(I) shall initially reflect
increases in the CPI during the period
beginning on the effective date of
section 505 of the American Recovery
and Reinvestment Act of 2009 (123 Stat.
156) through the date of enactment of
this subparagraph and annually
thereafter;</DELETED>
<DELETED> ``(II) with respect to
dollar amounts in subparagraph (B)
shall reflect increases in the CPI
annually on and after the date of
enactment of this
subparagraph.''.</DELETED>
<DELETED>SEC. 5. PUBLIC AVAILABILITY OF INFORMATION.</DELETED>
<DELETED> Section 303 of the Small Business Investment Act of 1958
(15 U.S.C. 683) is amended by adding at the end the
following:</DELETED>
<DELETED> ``(l) Access to Fund Information.--Annually, the
Administrator shall make public on its website the following
information with respect to each small business investment
company:</DELETED>
<DELETED> ``(1) The amount of capital deployed since fund
inception.</DELETED>
<DELETED> ``(2) The amount of leverage drawn since fund
inception.</DELETED>
<DELETED> ``(3) The number of investments since fund
inception.</DELETED>
<DELETED> ``(4) The number of businesses receiving capital
since fund inception.</DELETED>
<DELETED> ``(5) Industry sectors receiving investment since
fund inception.</DELETED>
<DELETED> ``(6) The amount of leverage principal repaid by
SBIC since fund inception.</DELETED>
<DELETED> ``(7) A basic description of investment
strategy.''.</DELETED>
<DELETED>SEC. 6. AUTHORIZED USES OF LICENSING FEES.</DELETED>
<DELETED> Section 301(e) of the Small Business Investment Act of
1958 (15 U.S.C. 681(e)) is amended--</DELETED>
<DELETED> (1) by striking ``(e)'' and inserting ``(d)'';
and</DELETED>
<DELETED> (2) in paragraph (2)(B), by inserting before the
period at the end the following: ``and other small business
investment company program needs''.</DELETED>
<DELETED>SEC. 7. SENSE OF CONGRESS.</DELETED>
<DELETED> It is the sense of Congress that--</DELETED>
<DELETED> (1) small business investment companies would
benefit from partnerships with community banks and other
lenders, and should work with community banks and other
lenders, to ensure that if community banks and other lenders
deny an application by a small business concern for a loan, the
community banks or other lenders will refer the small business
concern to small business investment companies; and</DELETED>
<DELETED> (2) the Administrator should--</DELETED>
<DELETED> (A) increase outreach to community banks
and other lenders to encourage community banks and
other lenders to invest in small business investment
companies;</DELETED>
<DELETED> (B) use the Internet to make publicly
available in a timely manner which small business
investment companies are actively soliciting
investments and making investments in small business
concerns;</DELETED>
<DELETED> (C) partner with governors, mayors,
States, and municipalities to increase outreach by
small business investment companies to underserved and
rural areas; and</DELETED>
<DELETED> (D) continue to make changes to the
webpage for the small business investment company
program, to make the webpage--</DELETED>
<DELETED> (i) a more prominent part of the
website of the Administration; and</DELETED>
<DELETED> (ii) more user-friendly.</DELETED>
</DELETED>Calendar No. 168
113th CONGRESS
1st Session
S. 511
[Report No. 113-90]
_______________________________________________________________________
A BILL
To amend the Small Business Investment Act of 1958 to enhance the Small
Business Investment Company Program, and for other purposes.
_______________________________________________________________________
September 10, 2013
Reported with an amendment