S. 3483: Scale-Up Manufacturing Investment Company Act of 2020

116th Congress · introduced 2020-03-12 · Commerce · Latest: Read twice and referred to the Committee on Small Business and Entrepreneurship.

federal

Follow this bill, step by step

Where it came from: introduced 2020-03-12 · official record
Who proposed it: Sen. Booker, Cory A. [D-NJ] · 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 Small Business and Entrepreneurship. 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

Scale-Up Manufacturing Investment Company Act of 2020

Plain summary

Scale-Up Manufacturing Investment Company Act of 2020 This bill establishes a scale-up manufacturing investment company (SUMIC) program within the Small Business Administration (SBA) to provide leverage for participating investment funds (PIFs) to support debt and equity investments in qualifying manufacturing projects of specified small and emerging manufacturers. The SBA may provide up to $1 of leverage for every $1 of private capital raised by a PIF, not to exceed a certain amount, and the SBA must charge a leverage fee of between 3% and 5.5% of the face amount of the leverage issued. Each PIF may borrow money and issue debentures and preferred securities. Of the SBA leverage provided to a PIF (1) at least 70% must be issued as debentures, and (2) up to 30% may be issued as preferred securities. Certain banks may invest in any one or more PIFs, or in any entity established to invest solely in PIFs. However, the total amount of such investments may not exceed 5% of the bank's capital and surplus. Each PIF shall be subject to examination by the SBA and shall submit a semiannual, written valuation of its loans and investments. The SBA shall issue policy directives to increase investments by PIFs in small businesses owned and controlled by socially and economically disadvantaged individuals and by women, veterans, or individuals with disabilities. The SBA may establish a SUMIC Credit Council to advise on carrying out the program.

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

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

A “Nay” vote

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

What does this mean? (plain words)

Official text

Scale-Up Manufacturing Investment Company Act of 2020

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Booker, Cory A. [D-NJ] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Kirsten E. Gillibrand (D-NY)

Sponsor's campaign money: Sen. Booker, Cory A. [D-NJ] reported raising $21.3 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)

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).
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-116s3483.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/s>

Record fed-us-cong116-s3483 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116