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United States · Bill · HR

H.R. 1491 (111th)

Securing Equity for the Economic Development of Low Income Areas Act of 2009

referredUnited States· United States Congress· EN

Introduced

12 March 2009

Last action

12 March 2009 · Introduced

Status

Referred to the Subcommittee on Finance and Tax.

Sponsors

Rep. Moore, Gwen [D-WI-4], Rep. Rogers, Harold [R-KY-5], Rep. Kaptur, Marcy [D-OH-9], Rep. Cohen, Steve [D-TN-9]

Subjects

Discovery layer

Source updated

14 August 2025

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Summary

Securing Equity for the Economic Development of Low Income Areas Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA), in selecting companies to participate in the New Markets Venture Capital Program (Program), to select at least one company from each geographic region of the SBA. Requires (current law authorizes) the Administrator to make grants to such companies to be used for loans to new-market small businesses, and to guarantee debentures issued by such companies. Establishes the Office of New Markets Venture Capital, headed by a Director, to administer the Program. Revises the definition of "low income geographic area" for Program eligibility purposes. Requires a study by the SBA's Chief Counsel for Advocacy on the availability of equity capital in low-income urban and rural areas. Authorizes operational assistance grants to conditionally approved companies.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 12 March 2009

    Referred

    Referred to the Subcommittee on Finance and Tax.

    Source: Committee

  2. 12 March 2009

    Introduced

    Referred to the House Committee on Small Business.

    Source: IntroReferral

  3. 12 March 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 12 March 2009

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 12 March 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 12 March 2009

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 12 March 2009

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Sponsors

Related records

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Sources

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