HR 10677 · 95th Congress · Commerce
Small Business Capital, Investment, and Business Opportunity Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1978-02-01)
Plain Language Summary
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Small Business Capital, Investment, and Business Opportunity Act - Title I: Amendments of the Small Business Investment Act of 1958 - States that the interest rate on loans guaranteed by the Small Business Administration (SBA) to small business investment companies shall be three percent per annum. Authorizes the Small Business Administration to guarantee up to 75 percent of the funds advanced by small business investment companies to start small business concerns. Limits such guarantees to not more than 20 percent of the private paid-in capital of the small business investment company. Makes the Associate Administrator for Investment of the SBA responsible for the administration of the small business investment program and removes any other duties. Title II: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to permit the sale of restricted securities without registration under specified circumstances. Requires issuers to report only material information with respect to transactions not involving any public offering. Title III: Amendment of the Employee Retirement Income Security Act of 1974 - Amends the Employee Retirement Income Security Act to provide …
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (11)
10 Democrats1 Republican