,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #aigc  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ad1 #bjac ,mr4 
,mulvaney introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
permit business development companies to
 increase investments in small-and      
middle-market financial services        
companies and investment advisors4  #a4 
,short title ,this ,act may be cited as 
the ,business ,development ,company     
,modernization ,act4  #b4 ,investments  
of business development companies ,the  
,investment ,company ,act of #aidj is   
amended--  7#a7 in section              
#b7;a77#df7;,b7 7#ae ,u4,s4,c4          
#hj;a-#b7df77;,b77 by striking nor a    
company which would be an investment    
company except for the exclusion from   
the definition of investment company in 
section #c7;c7 of this title2 and  7#b7 
in section #fj 7#ae ,u4,s4,c4 #hj;a-#ei7
 by striking except that the ,commission
 shall not and inserting  except that-- 

7#a7 section #ab shall not apply to the 
purchasing1 otherwise acquiring1 or     
holding by a business development       
company of any security issued by1 or   
any other interest in the business of1  
any person who is--  7,a7 an investment 
adviser registered under title ,,ii of  
this ,act or who is an investment       
adviser to an investment company2 or    
7,b7 an eligible portfolio company as   
defined in section #b7;a77#df7 7#ae     
,u4,s4,c4 #hj;a-#b7;a77#df772 and  7,c7 
the ,commission shall not  4