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New SBA Advisory Committee to Boost Small Business Investment in Underserved Areas.

This Act establishes a temporary expert committee to advise the Small Business Administration (SBA) on its investment program for small businesses. The goal is to improve how federal capital is directed, ensuring more funding reaches businesses in rural areas, low-income communities, and those owned by women, veterans, and minorities. Citizens may see indirect benefits through local job creation and economic development in these specific communities.
Key points
Creation of an expert panel to guide federal investment strategies for small businesses.
Focus on increasing funding for companies located in low-income areas, rural regions, and states with below-median financing.
Prioritizing support for businesses owned and controlled by veterans, women, and socially or economically disadvantaged individuals.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 118_S_2212
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Process start date: 2023-06-22
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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

SBIC Advisory Committee Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2212.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-22.

What are the main provisions?

Key points include:

  • Creation of an expert panel to guide federal investment strategies for small businesses.
  • Focus on increasing funding for companies located in low-income areas, rural regions, and states with below-median financing.
  • Prioritizing support for businesses owned and controlled by veterans, women, and socially or economically disadvantaged individuals.
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: Placed on Senate Legislative Calendar under General Orders. Calendar No. 171.

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