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II
116TH CONGRESS
1ST SESSION
S. 1994
To amend the Small Business Investment Act of 1958 to increase the amount
that certain banks and savings associations may invest in small business
investment companies, subject to the approval of the appropriate Federal
banking agency, and for other purposes.
IN THE SENATE OF THE UNITED STATES
JUNE 26, 2019
Mr. YOUNG (for himself, Ms. DUCKWORTH, and Mr. RISCH) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
A BILL
To amend the Small Business Investment Act of 1958 to
increase the amount that certain banks and savings asso-
ciations may invest in small business investment compa-
nies, subject to the approval of the appropriate Federal
banking agency, and for other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Investing in Main
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Street Act of 2019’’.
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•S 1994 IS
SEC. 2. INVESTMENT IN SMALL BUSINESS INVESTMENT
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COMPANIES.
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Section 302(b) of the Small Business Investment Act
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of 1958 (15 U.S.C. 682(b)) is amended—
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(1) in paragraph (1), by inserting before the pe-
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riod at the end the following: ‘‘or, subject to the ap-
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proval of the appropriate Federal banking agency,
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15 percent of such capital and surplus’’;
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(2) in paragraph (2), by inserting before the pe-
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riod at the end the following: ‘‘or, subject to the ap-
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proval of the appropriate Federal banking agency,
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15 percent of such capital and surplus’’; and
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(3) by adding at the end the following:
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‘‘(3) APPROPRIATE FEDERAL BANKING AGENCY
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DEFINED.—In this subsection, the term ‘appropriate
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Federal banking agency’ has the meaning given the
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term in section 3 of the Federal Deposit Insurance
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Act (12 U.S.C. 1813).’’.
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