,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #bdhi  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ag1 #bjag,ms4  
,velzquez introduced the following bill2
 which was referred to the ,committee on
 ,small ,business  ,a ,,bill  ,to amend 
the ,small ,business ,investment ,act of
 #aieh and the ,small ,business ,act to 
include small business investment       
companies in the ,small ,business       
,innovation ,research ,program and the  
,small ,business ,technology ,transfer  
,program1 and for other purposes4  #a4  
,calculation of leverage of small       
business investment companies that      
invest in ,,sbir or ,,sttr participants 
,section #cjc7;b77#b7 of the ,small     
,business ,investment ,act of #aieh 7#ae
 ,u4,s4,c4 #fhc7;b77#b77 is amended by  
adding at the end the following new     
subparagraph3  7,e7 ,investments in     
,,sbir and ,,sttr participants  7i7 ,in 
general ,subject to clause 7ii71 in     
calculating the outstanding leverage of 
a company for purposes of subparagraph  

7,a71 the ,administrator shall exclude  
the amount of any investment made in an 
,,sbir or ,,sttr participant1 if such   
investment is made in the first fiscal  
year after the date of enactment of this
 subparagraph or any fiscal year        
thereafter by a company licensed in the 
applicable fiscal year4  7ii7           
,limitations  7,i7 ,amount of exclusion 
,the amount excluded under clause 7i7   
for a company shall not exceed #cc      
percent of the private capital of that  
company4  7,,ii7 ,maximum investment ,a 
company shall not make an investment in 
any one ,,sbir or ,,sttr participant in 
an amount equal to more than #bj percent
 of the private capital of that company4
  7,,iii7 ,other terms ,the exclusion of
 amounts under clause 7i7 shall be      
subject to such terms as the            
,administrator may impose to ensure that
 there is no cost 7as that term is      
defined in section #ejb of the ,federal 
,credit ,reform ,act of #aiij 7#b       
,u4,s4,c4 #ffa;a77 with respect to      

purchasing or guaranteeing any debenture
 involved4  7iii7 ,definitions ,in this 
subsection1 the term ,,sbir or ,,sttr   
participant means a small business      
concern that receives contracts or      
grants pursuant to section #i of the    
,small ,business ,act4  4  #b4          
,inclusion of small business investment 
companies in ,,sbir and ,,sttr  ,section
 #i of the ,small ,business ,act 7#ae   
,u4,s4,c4 #fch7 is amended-- 7#a7 by    
striking or private equity firm         
investment each place such term appears 
and inserting private equity firm1 or   
,,sbic investment2  7#b7 by striking or 
private equity firms and inserting      
private equity firms1 or ,s,b,i,cs2     
7#c7 in subsection 7e7--  7,a7 in       
paragraph 7#ab77;,b71 by striking and at
 the end2  7,b7 in paragraph 7#ac77;,b71
 by striking the period at the end and  
inserting 2 and2 and  7,c7 by adding at 
the end the following new paragraph3    
7#ad7 the term ,,sbic means a small     
business investment company as defined  

in section #ajc of the ,small ,business 
,investment ,act of #aieh4  2 and  7#d7 
in the heading for subsection 7dd71 by  
striking or ,private ,equity ,firms and 
inserting ,private ,equity ,firms1 or   
,s,b,i,cs4