Small Business Credit Availability Act
This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable).
The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2018-04-24 | Calendars | Placed on the Union Calendar, Calendar No. 495. | House floor actions |
| 2018-04-24 | Committee | Reported by the Committee on Financial Services. H. Rept. 115-646. | House floor actions |
| 2017-11-15 | Committee | Ordered to be Reported by the Yeas and Nays: 58 - 2. | House committee actions |
| 2017-11-15 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2017-11-07 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2017-11-07 | IntroReferral | Introduced in House | Library of Congress |
| 2017-11-03 | Committee | Hearings Held by the Subcommittee on Capital Markets Prior to Introduction and Referral. | House committee actions |