arrow_back Back to App

Tripling Bank Investment Limits for Small Business Funding and Local Growth.

This bill triples the amount that banks and financial institutions can invest in Small Business Investment Companies (SBICs). The goal is to unlock significantly more private capital for local, "Main Street" businesses. This increased funding availability is expected to boost job creation and economic development in communities across the country.
Key points
The investment limit for financial institutions in Small Business Investment Companies (SBICs) is raised from 5% to 15%.
This change aims to provide small and medium-sized businesses with easier access to capital for growth and expansion.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_3730
Sponsor: Sen. Young, Todd [R-IN]
Process start date: 2024-02-01
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Investing in Main Street Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3730.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-02-01.

What are the main provisions?

Key points include:

  • The investment limit for financial institutions in Small Business Investment Companies (SBICs) is raised from 5% to 15%.
  • This change aims to provide small and medium-sized businesses with easier access to capital for growth and expansion.
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. Young, Todd [R-IN].

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 2025-12-30.

CATEGORIES

Economy Public Investments