US SB2188 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 18 2019 - 25% progression, died in committee
Action: 2019-07-18 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Modifies the timeline and creates an appeals process for the approval or disapproval of Small Business Investment Company (SBIC) license applications. Specifically, when an application to be licensed as an SBIC is approved, the bill requires the Small Business Administration to issue such license within 10 business days. The bill also (1) authorizes an applicant whose application is denied to request a written decision for the disapproval, and (2) establishes an appeals process for such applicant. Lastly, the bill allows a state development company that meets certain qualifications to apply for an SBIC license.

Tracking Information

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Title

SBIC Licensing Improvement Act

Sponsors


History

DateChamberAction
2019-07-18SenateRead twice and referred to the Committee on Small Business and Entrepreneurship.

Subjects


US Congress State Sources


Bill Comments

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