H.R. 31: Next Steps for Credit Availability Act

113th Congress · introduced 2013-01-03 · Finance and Financial Sector · Latest: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

federal

Follow this bill, step by step

Where it came from: introduced 2013-01-03 · official record
Who proposed it: Rep. Velazquez, Nydia M. [D-NY-12] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Next Steps for Credit Availability Act

Plain 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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Next Steps for Credit Availability Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Velazquez, Nydia M. [D-NY-12] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Gregory W. Meeks (D-NY)

Sponsor's campaign money: Rep. Velazquez, Nydia M. [D-NY-12] reported raising $180,257 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr31.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr31 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113