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

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Nydia M. Velázquez, D-N.Y.
Total Cosponsors 1 (All Democrats)
Introduced Jan. 3, 2013
Latest Major Action Oct. 23, 2013
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill 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.

(Source: Congressional Research Service)

Bill Actions

Date Description
Oct. 23, 2013 Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Jan. 3, 2013 Referred to the House Committee on Financial Services.