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New Investment Funds for Small Businesses in Underserved Communities and Rural Areas.

This Act establishes a new category of investment funds (MicroCap SBICs) designed to channel capital to small businesses, particularly those located in low-income communities, rural areas, or owned by individuals from underserved groups. It lowers the licensing barrier for new fund managers while mandating that at least 25% of their investments target these specific, economically crucial areas, fostering local job creation and economic growth.
Key points
Creates the MicroCap SBIC license, making it easier for new fund managers without extensive investment track records to access government-backed leverage.
Mandates that these funds invest a minimum of 25% of their capital in businesses located in low-income communities, rural areas, opportunity zones, or those engaged in R&D and manufacturing.
Sets a maximum government leverage limit of $25 million per fund, focusing support on smaller, targeted investment vehicles.
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Additional Information
Print number: 118_S_1157
Sponsor: Sen. Hickenlooper, John W. [D-CO]
Process start date: 2023-03-30
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Summarized by: gemini-2.5-flash-preview-09-2025
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_S_1157.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • Creates the MicroCap SBIC license, making it easier for new fund managers without extensive investment track records to access government-backed leverage.
  • Mandates that these funds invest a minimum of 25% of their capital in businesses located in low-income communities, rural areas, opportunity zones, or those engaged in R&D and manufacturing.
  • Sets a maximum government leverage limit of $25 million per fund, focusing support on smaller, targeted investment vehicles.
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. Hickenlooper, John W. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Public Investments