H.R. 5929 (112th): Next Steps for Credit Availability Act

Introduced:
Jun 08, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Nydia Velázquez
Representative for New York's 12th congressional district
Party
Democrat
Text
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Last Updated
Jun 08, 2012
Length
6 pages
Related Bills
H.R. 31 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Jan 03, 2013

 
Status

This bill was introduced on June 8, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 08, 2012
Referred to Committee Jun 08, 2012
 
Full Title

To amend the Investment Company Act of 1940 to change the asset coverage ratio and treatment of preferred stock for business development companies, to allow business development companies to purchase, otherwise acquire, or hold certain securities, and to direct the Securities and Exchange Commission to revise rules under the Securities Act of 1933 relating to business development companies.

Summary

No summaries available.

Cosponsors
3 cosponsors (3R) (show)
Committees

House Financial Services

Capital Markets and Government Sponsored Enterprises

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


6/8/2012--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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