H.R.5929 - Next Steps for Credit Availability Act112th Congress (2011-2012)
|Sponsor:||Rep. Velazquez, Nydia M. [D-NY-12] (Introduced 06/08/2012)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/11/2012 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.5929 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (06/08/2012)
Next Steps for Credit Availability Act - Amends the Investment Company Act of 1940 to allow a business development company (BDC) to own or acquire securities or other interests in the business of a registered investment adviser or adviser to an investment company.
Reduces from 200% to 150% the asset coverage requirements applicable to BDCs. Allows a BDC to issue stock.
Directs the Securities and Exchange Commission (SEC) to revise various rules under the Securities Act of 1933 and to revise forms as necessary to allow a BDC to use security offering rules available to other issuers that are required to file security issuance reports under the Securities Exchange Act of 1934.