House Bill 4267
115th Congress(2017-2018)
Small Business Credit Availability Act
Introduced
Introduced in House on Nov 7, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4267
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Small Business Credit Availability Act
This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable).
The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.
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04/24/2018
Placed on the Union Calendar, Calendar No. 495.
04/24/2018
Reported by the Committee on Financial Services. H. Rept. 115-646.
11/15/2017
Ordered to be Reported by the Yeas and Nays: 58 - 2.
11/15/2017
Committee Consideration and Mark-up Session Held.
11/07/2017
Referred to the House Committee on Financial Services.
11/07/2017
Introduced in House
11/03/2017
Hearings Held by the Subcommittee on Capital Markets Prior to Introduction and Referral.
Public Record
Record Updated
Jan 11, 2023 1:38:06 PM