,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #bdhi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #ag1 #bjag,ms4   
,velzquez introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,small       
,bus9ess  ,a ,,bill  ,to am5d ! ,small  
,bus9ess ,inve/m5t ,act ( #aieh & !     
,small ,bus9ess ,act to include small   
bus9ess inve/m5t companies 9 ! ,small   
,bus9ess ,innovation ,rese>* ,program & 
! ,small ,bus9ess ,te*nology ,transf]   
,program1 & = o!r purposes4  #a4        
,calculation ( lev]age ( small bus9ess  
inve/m5t companies t inve/ 9 ,,sbir or  
,,/tr p>ticipants ,section #cjc7;b77#b7 
( ! ,small ,bus9ess ,inve/m5t ,act (    
#aieh 7#ae ,u4,s4,c4 #fhc7;b77#b77 is   
am5d$ by add+ at ! end ! foll[+ new     
subp>agraph3  7,e7 ,inve/m5ts 9 ,,sbir &
 ,,/tr p>ticipants  7i7 ,9 g5]al        
,subject to clause 7ii71 9 calculat+ !  
out/&+ lev]age ( a company = purposes ( 
subp>agraph 7,a71 ! ,adm9i/rator %all   
exclude ! am\nt ( any inve/m5t made 9 an
 ,,sbir or ,,/tr p>ticipant1 if su*     

inve/m5t is made 9 ! fir/ fiscal ye>    
aft] ! date ( enactm5t ( ?is subp>agraph
 or any fiscal ye> !reaft] by a company 
lic5s$ 9 ! applicable fiscal ye>4  7ii7 
,limitations  7,i7 ,am\nt ( exclusion ,!
 am\nt exclud$ "u clause 7i7 = a company
 %all n exce$ #cc p]c5t ( ! private     
capital ( t company4  7,,ii7 ,maximum   
inve/m5t ,a company %all n make an      
inve/m5t 9 any "o ,,sbir or ,,/tr       
p>ticipant 9 an am\nt equal to m ?an #bj
 p]c5t ( ! private capital ( t company4 
7,,iii7 ,o!r t]ms ,! exclusion ( am\nts 
"u clause 7i7 %all be subject to su*    
t]ms z ! ,adm9i/rator may impose to     
ensure t !re is no co/ 7z t t]m is def9$
 9 section #ejb ( ! ,f$]al ,cr$it ,re=m 
,act ( #aiij 7#b ,u4,s4,c4 #ffa;a77 )   
respect to pur*as+ or gu>antee+ any     
deb5ture involv$4  7iii7 ,def9itions ,9 
?is subsection1 ! t]m ,,sbir or ,,/tr   
p>ticipant means a small bus9ess conc]n 
t receives contracts or grants pursuant 
to section #i ( ! ,small ,bus9ess ,act4 
4  #b4 ,inclusion ( small bus9ess       

inve/m5t companies 9 ,,sbir & ,,/tr     
,section #i ( ! ,small ,bus9ess ,act    
7#ae ,u4,s4,c4 #fch7 is am5d$-- 7#a7 by 
/rik+ or private equity firm inve/m5t   
ea* place su* t]m appe>s & ins]t+       
private equity firm1 or ,,sbic inve/m5t2
  7#b7 by /rik+ or private equity firms 
& ins]t+ private equity firms1 or       
,s,b,i,cs2  7#c7 9 subsection 7e7--     
7,a7 9 p>agraph 7#ab77;,b71 by /rik+ &  
at ! end2  7,b7 9 p>agraph 7#ac77;,b71  
by /rik+ ! p]iod at ! end & ins]t+ 2 &2 
&  7,c7 by add+ at ! end ! foll[+ new   
p>agraph3  7#ad7 ! t]m ,,sbic means a   
small bus9ess inve/m5t company z def9$ 9
 section #ajc ( ! ,small ,bus9ess       
,inve/m5t ,act ( #aieh4  2 &  7#d7 9 !  
head+ = subsection 7dd71 by /rik+ or    
,private ,equity ,firms & ins]t+        
,private ,equity ,firms1 or ,s,b,i,cs4