HR 3722 · 111th Congress · Commerce
Enhanced New Markets and Expanded Investment in Renewable Energy for Small Manufacturers Act of 2009
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Provisions of Measure Incorporated into H.R. 3854.(2009-10-21)
Plain Language Summary
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Enhanced New Markets and Expanded Investment in Renewable Energy for Small Manufacturers Act of 2009 - Amends the Small Business Investment Act of 1958 to require (under current law, authorizes) the Administrator of the Small Business Administration (SBA) to participate in the new markets venture capital program (program) (a program under which investment companies provide capital financing to small businesses). Requires the Administrator, in selecting companies for program participation, to approve at least one company from each SBA geographic region. Provides for new market capital venture investment in, as well as operational assistance to, small businesses located in low-income geographic areas and engaged primarily in manufacturing. Makes the SBA definition of "low-income geographic area" the same as the definition of "low-income community" under the Internal Revenue Code. Expands SBA operational assistance to conditionally-approved companies. Directs the Administrator to grant each such company two years to satisfy capital and other requirements for such assistance. Provides: (1) a streamlined application process for new market venture capital companies; a…
Summarized by Claude AI · Non-partisan · For informational purposes only