[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5333 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 5333

To amend the Small Business Investment Act of 1958 to exclude from the 
   limit on leverage certain amounts invested in smaller enterprises 
 located in rural or low-income areas and small businesses in critical 
               technology areas, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 1, 2023

  Mr. Meuser (for himself and Ms. Scholten) introduced the following 
      bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Investment Act of 1958 to exclude from the 
   limit on leverage certain amounts invested in smaller enterprises 
 located in rural or low-income areas and small businesses in critical 
               technology areas, 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 ``Investing in All of America Act of 
2023''.

SEC. 2. SBIC MAXIMUM LEVERAGE EXCLUSION.

    (a) In General.--Section 303(b)(2) of the Small Business Investment 
Act of 1958 (15 U.S.C. 683(b)(2)) is amended--
            (1) in subparagraph (C)--
                    (A) in the heading--
                            (i) by inserting ``or rural'' after ``low-
                        income''; and
                            (ii) by inserting ``or critical technology 
                        areas'' after ``geographic areas'';
                    (B) in clause (i)--
                            (i) by inserting ``or companies'' after 
                        ``of a company'';
                            (ii) by striking ``subparagraph (A)'' and 
                        inserting ``subparagraphs (A) and (B)'';
                            (iii) by striking ``equity'';
                            (iv) by striking ``the company in a smaller 
                        enterprise'' and all that follows and inserting 
                        the following: ``the company or companies in--
                                    ``(I) a smaller enterprise located 
                                in a low-income geographic area (as 
                                defined in section 689 of this title) 
                                or in a rural area; or''; and
                            (v) by adding at the end the following new 
                        subclause:
                                    ``(II) a small business concern in 
                                an area of critical technology (as 
                                defined in section 4801 of title 10, 
                                United States Code) vital to 
                                maintaining the national security of 
                                the United States.'';
                    (C) by amending clause (ii) to read as follows:
                            ``(ii) Limitation.--The aggregate amount 
                        excluded for a company or companies under 
                        clause (i) from the calculation of the 
                        outstanding leverage of such company or 
                        companies for the purposes of subparagraphs (A) 
                        and (B) may not exceed 50 percent of the 
                        private capital of such company or 
                        companies.''; and
                    (D) by striking clause (iii); and
            (2) by adding at the end the following new subparagraphs:
                    ``(E) Annual adjustment.--The Administrator shall 
                adjust the dollar amounts described in subparagraphs 
                (A) and (B)--
                            ``(i) on the date of the enactment of this 
                        subparagraph, by a percentage equal to the 
                        percentage (if any) by which the Consumer Price 
                        Index (all items; United States city average), 
                        as published by the Bureau of Labor Statistics, 
                        increased during the period beginning on the 
                        date of the most recent adjustment to each such 
                        dollar amount and the date of the enactment of 
                        this subparagraph; and
                            ``(ii) on the date that is one year after 
                        the date of the enactment of this subparagraph, 
                        and annually thereafter, by a percentage equal 
                        to the percentage (if any) by which the 
                        Consumer Price Index (all items; United States 
                        city average), as published by the Bureau of 
                        Labor Statistics, increased during the one-year 
                        period preceding the date of the adjustment 
                        under this clause.''.
    (b) Report.--Not later than June 30 of the first year beginning 
after the date of the enactment of this Act, and annually thereafter, 
the Administrator of the Small Business Administration shall submit to 
the Committee on Small Business and Entrepreneurship of the Senate and 
the Committee on Small Business of the House of Representatives a 
report on the results of the exclusion under subparagraph (C) of 
section 303(b)(2) of the Small Business Investment Act of 1958 (15 
U.S.C. 683(b)(2)), as amended by subsection (a), including the economic 
activity generated and jobs directly and indirectly created by the 
exclusion.
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