Senate Bill 2188
116th Congress(2019-2020)
SBIC Licensing Improvement Act
Introduced
Introduced
Introduced in Senate on Jul 18, 2019
Overview
Text
Introduced
Jul 18, 2019
Latest Action
Jul 18, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2188
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Missouri
Delaware
No Senate votes have been held for this bill.
Summary

SBIC Licensing Improvement Act

This bill 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.

Text (1)
Actions (2)
07/18/2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
07/18/2019
Introduced in Senate
Public Record
Created
Jul 19, 2019 4:42:20 AM
Updated
Aug 18, 2020 4:29:40 AM