SBIC Advisory Committee Act of 2023

This bill establishes an SBIC Advisory Committee to advise the Small Business Administration (SBA) on its small business investment program. The committee, composed of 16 members including SBA staff, experts in underserved communities (like low-income areas and rural regions), and private investors not currently in the program, will provide recommendations on policy development and investment incentives. It specifically focuses on encouraging investments in underserved communities, businesses owned by veterans or women, and socially/economically disadvantaged individuals. The committee must submit a report to Congress within 18 months detailing its advice on program improvements and measuring success.