HR 3738 · 111th Congress · Commerce

Small Business Early-Stage Investment Act of 2009

Introduced 2009-10-07· Sponsored by Rep. Nye, Glenn C. [D-VA-2]· House

Bill Progress

Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.(2009-11-19)

Plain Language Summary

[AI summary unavailable — showing source text] Small Business Early-Stage Investment Act of 2009 - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out a program to provide equity investment financing to support early-stage small businesses in the following targeted industries: (1) agricultural technology; (2) energy technology; (3) environmental technology; (4) life science; (5) information technology; (6) digital media; (7) clean technology; and (8) defense technology. Directs the Administrator to make grants to participating investment companies under the program and limits to $100 million the aggregate amount of all grants made to a participating investment company under the program. Requires, as a condition of receiving a grant under the program, all of the investments of participating investment companies to be in small businesses, and at least 50% to be in early-stage small businesses in the targeted industries. Establishes a separate Treasury fund for such grants.…

Summarized by Claude AI · Non-partisan · For informational purposes only