Rural Capital Access Act

Summary

Rural Capital Access Act This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs. The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.

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Timeline

1. 8 October 2021

   Introduced

   Referred to the Committee on Small Business, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 8 October 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 October 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 21 October 2021

   Referred

   Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 8 October 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 October 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 8 October 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 8 October 2021

  Open at official source

Sponsors

• David Joyce · R · Sponsor
• Jared Golden · D · Sponsor
• Bill Johnson · R · Cosponsor
• Rep. Mfume, Kweisi [D-MD-7] · D · Cosponsor
• Chris Pappas · D · Cosponsor
• Angie Craig · D · Cosponsor
• Anthony Gonzalez · R · Cosponsor
• Rep. Gottheimer, Josh [D-NJ-5] · D · Cosponsor
• · hsag00 · Standing
• · hssm00 · Standing

Related records

• related to → Rural Capital Access Act