S. 2324: Small Business Credit Availability Act

115th Congress · introduced 2018-01-18 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2018-01-18 · official record
Who proposed it: Sen. Heller, Dean [R-NV] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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

Small Business Credit Availability Act

Plain summary

Small Business Credit Availability Act This bill amends the Investment Company Act of 1940 to reduce the required asset-coverage ratio applicable to a Business Development Company (BDC) from 200% to 150% if: (1) the BDC makes specified disclosures on its website and to the Securities and Exchange Commission (SEC); and (2) the modified asset-coverage ratio is approved by the required majority of the BDC's directors, general partners, or shareholders (as applicable). The SEC must allow BDCs to use securities offering and proxy rules that are available to other issuers.

Congressional Research Service summary (Introduced in Senate), 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

Small Business Credit Availability Act

Source: Congressional Research Service summary (Introduced in Senate)

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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: Sen. Heller, Dean [R-NV] · 17 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

James E. Risch (R-ID), Michael F. Bennet (D-CO), Gary C. Peters (D-MI), Thom Tillis (R-NC), Jeanne Shaheen (D-NH), Tim Scott (R-SC), Mike Rounds (R-SD)

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 (3)

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).
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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s2324.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s2324 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115