SEED Act

Summary

Securing Equity for the Economic Development of Low Income Areas Act of 2007 or SEED Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to select at least one company from each SBA geographic region when selecting companies to participate as New Markets Venture Capital companies. Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code. Revises the formula for the amount of operational assistance grants for new markets venture capital companies.

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Timeline

1. 19 June 2007

   Introduced

   Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S7906)

   Source: IntroReferral

2. 19 June 2007

   Introduced

   Sponsor introductory remarks on measure. (CR S7905)

   Source: IntroReferral

3. 19 June 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 26 June 2007

   Reported

   Committee on Small Business and Entrepreneurship. Measure incorporated into measure S.1662 ordered to be reported.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 19 June 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 June 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 June 2007

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 June 2007

  Open at official source

Sponsors

• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Rep. Snowe, Olympia J. [R-ME-2] · R · Sponsor
• · sssb00 · Standing

Related records

• related to → Small Business Venture Capital Act of 2007