H.R. 4111 · 115th Congress
Spurring Business in Communities Act of 2017
- Stage
- Signed by the president
- Sponsor
- Cathy McMorris Rodgers
- Introduced
- 2017-10-24
- Latest action
- 2018-12-19 · Signed by President.
Summary
Spurring Business in Communities Act of 2017
(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:
require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and exempt applicants in underlicensed states from certain SBA capital requirements.