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Increased Bank Investments in Small Businesses: Boosting Local Economies

This Act allows banks and savings associations to invest more (up to 15% of their capital) in small business investment companies, subject to federal banking agency approval. The goal is to enhance access to funding for small businesses, potentially fostering job creation and local economic growth. This change aims to strengthen the financial support available to Main Street enterprises.
Key points
Banks and savings associations can now invest up to 15% of their capital in small business investment companies, increasing funding opportunities for local businesses.
These increased investments require approval from appropriate federal banking agencies, ensuring regulatory oversight.
Greater investment in small businesses can stimulate their growth, create jobs, and strengthen local economies.
article Official text account_balance Process page
VOTING RESULTS
2021-11-02
98%
For 413
Against 10
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_4256
Sponsor: Rep. Chu, Judy [D-CA-27]
Process start date: 2021-06-30
Voting date: 2021-11-02
Meeting no: 1
Voting no: 349
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Investing in Main Street Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4256.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-30.

What are the main provisions?

Key points include:

  • Banks and savings associations can now invest up to 15% of their capital in small business investment companies, increasing funding opportunities for local businesses.
  • These increased investments require approval from appropriate federal banking agencies, ensuring regulatory oversight.
  • Greater investment in small businesses can stimulate their growth, create jobs, and strengthen local economies.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Chu, Judy [D-CA-27].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 413 - 10 (Roll no. 349). (text: CR H6087)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy Public Investments