H.R.1800 - Small Business Credit Availability Act113th Congress (2013-2014)
|Sponsor:||Rep. Grimm, Michael G. [R-NY-11] (Introduced 04/26/2013)|
|Committees:||House - Financial Services|
|Latest Action:||11/14/2013 Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 26. (All Actions)|
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Summary: H.R.1800 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (04/26/2013)
Small Business 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.