HR 31 · 113th Congress · Finance and Financial Sector

Next Steps for Credit Availability Act

Introduced 2013-01-03· Sponsored by Rep. Velazquez, Nydia M. [D-NY-12]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.(2013-10-23)

Plain Language Summary

[AI summary unavailable — showing source text] Next Steps for Credit Availability Act - Amends the Investment Company Act of 1940 to allow a business development company (BDC) to own or acquire securities or other interests in the business of a registered investment adviser or adviser to an investment company. Reduces from 200% to 150% the asset coverage requirements applicable to BDCs. Allows a BDC to issue stock. Directs the Securities and Exchange Commission (SEC) to revise various rules under the Securities Act of 1933 and to revise forms as necessary to allow a BDC to use security offering rules available to other issuers that are required to file security issuance reports under the Securities Exchange Act of 1934.…

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

Cosponsors (1)

1 Democrat
Rep. Meeks, Gregory W. [D-NY-5]NY