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Small Business Support: New Investment Opportunities and Local Development

This act introduces a new category of investment companies to support small businesses, especially those in less developed regions. This aims to facilitate access to capital for businesses that previously struggled to obtain it, potentially leading to job creation and local economic growth.
Key points
Easier access to funding for small businesses, particularly in low-income areas, rural areas, and for businesses owned by individuals in underserved communities.
New investment companies must allocate at least 25% of their investments to support development in specific, needy areas.
Streamlined licensing process for investment companies, encouraging faster deployment of support for small businesses.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_3717
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2023-05-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

MicroCap Small Business Investing Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3717.

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 2023-05-25.

What are the main provisions?

Key points include:

  • Easier access to funding for small businesses, particularly in low-income areas, rural areas, and for businesses owned by individuals in underserved communities.
  • New investment companies must allocate at least 25% of their investments to support development in specific, needy areas.
  • Streamlined licensing process for investment companies, encouraging faster deployment of support for small businesses.
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 Rep. Neguse, Joe [D-CO-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Public Investments