H.R. 5969: Investing in Main Street Act of 2016
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H.R. 5969: Investing in Main Street Act of 2016
114th Congress · introduced 2016-09-08 · Commerce · Latest: Referred to the House Committee on Small Business.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-09-08 · official record
- Who proposed it: Rep. Meng, Grace [D-NY-6] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Small Business. 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.
Official title
Investing in Main Street Act of 2016
Plain summary
Investing in Main Street Act of 2016 This bill amends the Small Business Investment Act of 1958 to increase from 5% to 15% of its capital and surplus, the amount a national bank, a member bank of the Federal Reserve System, a nonmember insured bank (to the extent permitted under applicable state law), or a federal savings association may invest in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs. The increase is subject to the approval of the appropriate federal banking agency.
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
Investing in Main Street Act of 2016
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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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. Meng, Grace [D-NY-6] · 2 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Sponsor's campaign money: Rep. Meng, Grace [D-NY-6] reported raising $2.2 million (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)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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-114hr5969.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>
Record fed-us-cong114-hr5969 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114