United States · Bill · HR
H.R. 3740 (111th)
Small Business Investment Company Modernization Act of 2009
Introduced
7 October 2009
Last action
21 October 2009 · Committee
Status
Provisions of Measure Incorporated into H.R. 3854.
Sponsors
Rep. Luetkemeyer, Blaine [R-MO-3]
Subjects
Discovery layer
Source updated
14 August 2025
Summary
Small Business Investment Company Modernization Act of 2009 - Amends the Small Business Investment Act of 1958 to increase the amount that a state or local governmental entity may invest in a small business investment company (SBIC) applicant or licensee from 33% to 45% of the private capital of such applicant or licensee. Requires the Administrator of the Small Business Administration (SBA) to: (1) approve within 60 days after receipt an application for licensing as an SBIC, as long as the applicant meets specified experiential and operational requirements; and (2) notify and provide an opportunity to an applicant to cure any nonconformance with such requirements. Revises the maximum amount of outstanding leverage of SBICs. Provides a limit on the maximum rate of interest authorized to be charged by SBICs for long-term small business loans. Directs the Administrator to exclude the cost basis of any equity investment made by an SBIC in small businesses owned and controlled by veterans when calculating outstanding SBIC leverage limits. Authorizes an SBIC to invest in certain passive entities wholly-owned by the SBIC. Provides that an SBIC with earmarked assets shall not be deemed in capital impairment during the first 72 months after licensing if its impairment does not exceed 85%. Requires the SBA Associate Administrator for Investment to establish an agency record of evidence referring or relating to each application for an SBIC license. Directs the Administrator to provide a written explanation of any denial of a license application based upon evidence in such record. Provides FY2010-FY2011 levels for the SBA purchase of participating securities and guarantee of debentures under the SBIC program.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
7 October 2009
Referred
Referred to the Subcommittee on Finance and Tax.
Source: Committee
7 October 2009
Introduced
Referred to the House Committee on Small Business.
Source: IntroReferral
7 October 2009
Introduced
Introduced in House
Source: IntroReferral
7 October 2009
Introduced
Introduced in House
Source: IntroReferral
8 October 2009
Committee
Forwarded by Subcommittee to Full Committee by Voice Vote .
Source: Committee
8 October 2009
Committee
Subcommittee Consideration and Mark-up Session Held.
Source: Committee
21 October 2009
Committee
Provisions of Measure Incorporated into H.R. 3854.
Source: Committee
Votes
No vote records are attached yet.
Versions
- Introduced in House · 7 October 2009 · Download file
Documents
3 official files
Introduced in House (text)
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Introduced in House (text)
Introduced in House · EN · 7 October 2009
Introduced in House (PDF)
Introduced in House · EN · 7 October 2009
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Introduced in House
summary · EN · 7 October 2009
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Luetkemeyer, Blaine [R-MO-3] · R · Sponsor
- · hssm00 · Standing
Related records
- related to ← Small Business Financing and Investment Act of 2009
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/111th-congress/house-bill/3740
- Open data entity: https://api.congress.gov/v3/bill/111/hr/3740
- us · 111-hr-3740 · source updated 14 August 2025