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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Next Steps for Credit Availability Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Investment Company Act of 1940 to change the asset coverage ratio and treatment of preferred stock for business development companies, to allow business development companies to purchase, otherwise acquire, or hold certain securities, and to direct the Securities and Exchange Commission to revise rules under the Securities Act of 1933 relating to business development companies.


Actions Overview (1)

Date
01/03/2013Introduced in House

All Actions (3)

Date
10/23/2013Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Action By: House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises
01/03/2013Referred to the House Committee on Financial Services.
Action By: House of Representatives
01/03/2013Introduced in House
Action By: House of Representatives

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Meeks, Gregory W. [D-NY-5] 02/25/2013

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services01/03/2013 Referred to
House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises10/23/2013 Hearings by

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Latest Summary (1)

There is one summary for H.R.31. View summaries

Shown Here:
Introduced in House (01/03/2013)

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.