S. 2212, SBIC Advisory Committee Act of 2023

September 28, 2023

Cost Estimate

As reported by the Senate Committee on Small Business and Entrepreneurship on July 25, 2023

Summary

S. 2212 would establish an advisory committee to advise the SBA on its Small Business Investment Company (SBIC) program, which provides equity capital to small businesses through private SBICs that raise a mixture of private funds and SBA-guaranteed loans. The committee would make recommendations to the SBA, including how to increase the number of SBICs that invest in low-income and rural areas. The bill would require the committee to report to the Congress within 18 months, at which point the committee would terminate.