H.R. 5929 · 112th Congress
Next Steps for Credit Availability Act
- Stage
- In committee
- Sponsor
- Nydia Velázquez
- Introduced
- 2012-06-08
- Latest action
- 2012-07-11 · Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Summary
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.