Rural Capital Access Act
Summary
Rural Capital Access Act This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs. The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2021
Committee Review
Floor Vote
President
Introduced Oct 8, 2021
Last action Oct 21, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Oct 21, 2021
Committee
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
lower
Oct 8, 2021
Committee
Referred to the Committee on Small Business, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Oct 8, 2021
Introduced
Introduced in House
lower
1 primary · 7 co-sponsors
Sponsors
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