U.S. Congress - S.1662 Small Business Venture Capital Act of 2007
S.1662 - Small Business Venture Capital Act of 2007
A bill to amend the Small Business Investment Act of 1958 to reauthorize the venture capital program, and for other purposes. view all titles (3)
All Bill Titles
- Short: Small Business Venture Capital Act of 2007 as reported to senate.
- Official: A bill to amend the Small Business Investment Act of 1958 to reauthorize the venture capital program, and for other purposes. as introduced.
- Short: Small Business Venture Capital Act of 2007 as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 3
- Past Seven Days: 5
- All-Time: 2,045
|
|
|
|
|
|
|
|
Committees
Official Summary
10/16/2007--Reported to Senate amended. Small Business Venture Capital Act of 2007 - Title I: Small Business Investment Company Program - (Sec. 101) Amends the Small Business Act to reauthorize for FY2007-FY2010 the venture capital program under the Small Business Investment Act of 1958 (aOfficial Summary
10/16/2007--Reported to Senate amended. Small Business Venture Capital Act of 2007 - Title I: Small Business Investment Company Program -(Sec. 101)
Amends the Small Business Act to reauthorize for FY2007-FY2010 the venture capital program under the Small Business Investment Act of 1958 (a program under which small business investment companies (SBICs) provide capital financing to small businesses).(Sec. 102)
Amends the latter Act to increase the maximum amounts of outstanding leverage made available to:(1) any one SBIC;
(2) two or more SBICs that are commonly controlled; and
(3) SBICs that invest in women-owned or minority businesses or in businesses in low-income areas.
(Sec. 103)
Requires each SBIC, as a condition of an application for leverage, to certify that not less than 25% of the aggregate dollar amount of its financings will be provided to smaller enterprises.(Sec. 104)
Allows SBICs who were licensed as participating securities SBICs prior to October 1, 2004, to obtain leverage based on Small Business Administration (SBA)-approved commitments rather than paid-in capital.(Sec. 105)
Increases from 20% to 30% of total available private capital the maximum authorized SBIC investment in a single business (absent specific SBA approval). Title II: New Markets Venture Capital Program -(Sec. 201)
Requires the SBA Administrator, in selecting investment companies to participate in the New Markets Venture Capital program (NMVC program) (investment in small businesses in low-income areas), to have as a goal to select at least one company from each SBA geographic region. Requires the Administrator, to the extent practicable, to have as a goal to enter into at least one NMVC program agreement with a company engaged primarily in the development of and investment in small manufacturers.(Sec. 202)
Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Requires the head of such Office to:(1) administer the NMVC program;
(2) advise the Administrator on recommended changes;
(3) work to expand the number of small businesses participating in the program; and
(4) encourage investment in small manufacturing.
(Sec. 203)
Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code.(Sec. 204)
Requires the Administrator, within one year after the enactment of this Act, to prescribe standard documents for an application for final approval of a company under the NMVC program.(Sec. 205)
Allows NMVC companies to receive operational assistance grants of the lesser of 10% of the private capital raised by the company or $1 million. Requires the Administrator to grant each conditionally-approved NMVC company up to two years to raise the $5 million in private capital required for participation.(Sec. 206)
Reauthorizes the NMVC program for FY2007-FY2010. Reduces from $30 million to $20 million the authorization for operational assistance grants....Read the Rest
Recent News Coverage
Bipartisan Venture Capital, Entrepreneurial Development Bills Pass ...
The Small Business Venture Capital Act (S. 1662) will ensure the continued availability of venture capital for small firms through the SBIC and NMVC ...
Bipartisan Venture Capital, Entrepreneurial Development Bills Pass ...
The Small Business Venture Capital Act (S. 1662) will ensure the continued availability of venture capital for small firms through the SBIC and NMVC ...
Recent Blog Coverage
View All (11)
|
View Top Rated
Kryptozoologie.net »Thema::Orrorin tugenensis ein ZweifüÃler?
Im Gegensatz zu Pickford und Senut kommt Richmond nun in Science (Bd. 319, S. 1662) jedoch zum Schluss, dass der Knochen die stärkste Ãhnlichkeit mit jenen von Australopithecinen haben, die vor etwa vier Millionen Jahren lebten. ...
Kryptozoologie.net »Thema::Orrorin tugenensis ein ZweifüÃler?
Im Gegensatz zu Pickford und Senut kommt Richmond nun in Science (Bd. 319, S. 1662) jedoch zum Schluss, dass der Knochen die stärkste Ãhnlichkeit mit jenen von Australopithecinen haben, die vor etwa vier Millionen Jahren lebten. ...
FDALegislativeWatch: Reauthorized Bill Could Offer Bigger Grants ...
The Senate companion bill to H.R. 3567 (S. 1662) reauthorizes the new market venture capital program, but does not address the SBIR program or size standards for small firms. Senator John Kerry, D-Mass., chairman of the Senate Small ...
Vote on This Bill
-
Share This Bill
More Share via Email
