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New Advisory Committee for Small Businesses: Supporting Investment and Growth

This act establishes a new advisory committee to help guide investment programs for small businesses. Its goal is to ensure that funding reaches businesses in need, especially in less developed areas and those owned by women, veterans, or disadvantaged individuals. This makes it easier for small businesses to get financing, fostering job creation and local community development.
Key points
Establishment of SBIC Advisory Committee: A group of experts will advise on investment programs for small businesses.
Support for Underfinanced Regions: The committee aims to encourage investment in areas with less access to capital.
Assistance for Diverse Entrepreneurs: Focus on businesses owned by women, veterans, and economically disadvantaged individuals.
Improved Fund Utilization: The committee will assess program effectiveness and suggest changes for better use of funds.
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Status:
Expired
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Additional Information
Print number: 117_S_2521
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2021-07-28
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SBIC Advisory Committee Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2521.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-07-28.

What are the main provisions?

Key points include:

  • Establishment of SBIC Advisory Committee: A group of experts will advise on investment programs for small businesses.
  • Support for Underfinanced Regions: The committee aims to encourage investment in areas with less access to capital.
  • Assistance for Diverse Entrepreneurs: Focus on businesses owned by women, veterans, and economically disadvantaged individuals.
  • Improved Fund Utilization: The committee will assess program effectiveness and suggest changes for better use of funds.
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

Who is the primary sponsor?

The primary sponsor is Sen. Cardin, Benjamin L. [D-MD].

What is the latest detailed status?

The latest detailed status is: Passed Senate with an amendment and an amendment to the Title by Voice Vote. (text of amendment in the nature of a substitute: CR S5169-5170)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Public Investments