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House Bill 2364
115th Congress(2017-2018)
Investing in Main Street Act of 2017
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Passed House on Jul 24, 2017
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H. R. 2364 (Reported-in-House)

Union Calendar No. 152

115th CONGRESS
1st Session
H. R. 2364

[Report No. 115–216]


To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 4, 2017

Ms. Judy Chu of California (for herself, Ms. Meng, and Mr. Knight) introduced the following bill; which was referred to the Committee on Small Business

July 12, 2017

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

A BILL

To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Investing in Main Street Act of 2017”.

SEC. 2. Investment in small business investment companies.

Section 302(b) of the Small Business Investment Act of 1958 (15 U.S.C. 682(b)) is amended—

(1) in paragraph (1), by inserting before the period the following: “or, subject to the approval of the appropriate Federal banking agency, 15 percent of such capital and surplus”;

(2) in paragraph (2), by inserting before the period the following: “or, subject to the approval of the appropriate Federal banking agency, 15 percent of such capital and surplus”; and

(3) by adding at the end the following:

“(3) APPROPRIATE FEDERAL BANKING AGENCY DEFINED.—For purposes of this subsection, the term ‘appropriate Federal banking agency’ has the meaning given that term under section 3 of the Federal Deposit Insurance Act.”.

Union Calendar No. 152

115th CONGRESS
     1st Session
H. R. 2364
[Report No. 115–216]
A BILL
To amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.
July 12, 2017
Committed to the Committee of the Whole House on the State of the Union and ordered to be printed