,i  #aagth ,,congress  #ast ,session    
,h4 ,r4 #eeba  ,,in ,,the ,,house ,,of  
,,representatives  ,october #h1         
#bjba,mr4 ,joyce of ,ohio 7for himself  
and ,mr4 ,golden7 introduced the        
following bill2 which was referred to   
the ,committee on ,small ,business1 and 
in addition to the ,committee on        
,agriculture1 for a period to be        
subsequently determined by the ,speaker1
 in each case for consideration of such 
provisions as fall within the           
jurisdiction of the committee concerned 
,a ,,bill  ,to amend the ,small         
,business ,investment ,act of #aieh to  
provide opportunities to rural business 
investment companies1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,rural ,capital     
,access ,act4  #b4 ,definitions  ,in    
this ,act-- 7#a7 the term               
,administration means the ,small        
,business ,administration2  7#b7 the    
term ,administrator means the           
,administrator of the ,administration2  

7#c7 the term appropriate committees of 
,congress means-- 7,a7 the ,committee on
 ,small ,business and ,entrepreneurship 
of the ,senate2  7,b7 the ,committee on 
,agriculture1 ,nutrition1 and ,forestry 
of the ,senate2  7,c7 the ,committee on 
,small ,business of the ,house of       
,representatives2 and  7,d7 the         
,committee on ,agriculture of the ,house
 of ,representatives2  7#d7 the term    
rural business investment company has   
the meaning given the term in section   
#chd;,a of the ,consolidated ,farm and  
,rural ,development ,act 7#g ,u4,s4,c4  
#bjji;cc72  7#e7 the term ,secretary    
means the ,secretary of ,agriculture2   
and  7#f7 the term working group means  
the interagency working group           
established under section #d7;a74  #c4  
,rural business investment  7a7 ,in     
general ,the ,small ,business           
,investment ,act of #aieh 7#ae ,u4,s4,c4
 #ffa et seq47 is amended-- 7#a7 in part
 ,a of title ,,iii 7#ae ,u4,s4,c4 #fha  
et seq47-- 7,a7 in section #cjc7;b77#b7 

7#ae ,u4,s4,c4 #fhc7;b77#b771 by adding 
at the end the following3  7,e7         
,investments in rural areas  7i7        
,definition ,in this subparagraph1 the  
term rural area has the meaning given   
the term in section #cdc7;a7 of the     
,consolidated ,farm and ,rural          
,development ,act 7#g ,u4,s4,c4         
#aiia7;a774  7ii7 ,additional leverage  
7,i7 ,in general ,in calculating the    
outstanding leverage of a company for   
the purposes of subparagraph 7,a71 the  
,administrator shall not include the    
amount of the cost basis of any equity  
investment made by the company in a     
smaller enterprise located in a rural   
area if the ,administrator1 after       
performing an appropriate evaluation1   
determines that such an exclusion will  
not result in additional risk to the    
,administration or the ,federal         
,government4  7,,ii7 ,limitation ,the   
amount excluded under subclause 7,i7 for
 a company shall not exceed #be1jjj1jjj 
in any fiscal year4  2  7,b7 in section 

#cjh7;g77#c7 7#ae ,u4,s4,c4             
#fhg7;g77#c77-- 7i7 in subparagraph     
7,d71 by striking and at the end2  7ii7 
in subparagraph 7,e71 by striking the   
period at the end and inserting 2 and2  
and  7iii7 by adding at the end the     
following3  7,f7 the total number of    
rural business investment companies1 as 
defined in section #cba7;a71 that       
received leverage from the              
,administration under section #cba in   
the previous year1 including the amount 
of that leverage that each such rural   
business investment company received4  2
  7,c7 in section #caj7;d77#a77;,a7 7#ae
 ,u4,s4,c4 #fhg;b7d77#a77;,a771 by      
inserting 7including each rural business
 investment company that receives       
leverage under section #cba7 after ,each
 licensee2 and  7,d7 by adding at the   
end the following3  #cba4 ,rural        
business investment companies  7a7      
,definitions ,in this section-- 7#a7 the
 term covered amounts means1 with       
respect to a fiscal year1 the amounts   

made available for that fiscal year to  
grant leverage under this part to small 
business investment companies2  7#b7 the
 term rural business investment company 
has the meaning given the term in       
section #chd;,a of the ,consolidated    
,farm and ,rural ,development ,act 7#g  
,u4,s4,c4 #bjji;cc72 and  7#c7 the term 
,secretary means the ,secretary of      
,agriculture4  7b7 ,leverage  7#a7 ,in  
general ,subject to paragraph 7#b71 if  
the ,administration determines under    
subsection 7c7 that the ,administration 
will be unable to expend all of the     
covered amounts for a particular fiscal 
year1 the ,administration shall expend  
those unexpended covered amounts for    
that fiscal year to grant leverage to   
rural business investment companies for 
the purposes described in this part if1 
with respect to that fiscal year1 the   
,secretary determines that the          
,secretary is unable to grant leverage  
to rural business investment companies  
in a manner that is sufficient to       

satisfy the leverage needs of those     
rural business investment companies4    
7#b7 ,conditions ,with respect to       
leverage granted by the ,administration 
to a rural business investment company  
under paragraph 7#a7-- 7,a7 the amount  
of the leverage made available shall be 
subject to the limitations under section
 #cjc7;b77#b72  7,b7 for the purposes of
 subparagraph 7,a71 any leverage granted
 by the ,secretary to the rural business
 investment company under the program   
carried out under subtitle ,h of the    
,consolidated ,farm and ,rural          
,development ,act 7#g ,u4,s4,c4 #bjji;cc
 et seq47 shall be included when        
determining the maximum amount of       
outstanding leverage that may be made   
available to the rural business         
investment company under this section2  
and  7,c7 the ,administration1 in       
consultation with the ,secretary1       
shall-- 7i7 impose such terms and       
conditions with respect to the leverage 
that the ,administration and the        

,secretary determine to be appropriate2 
and  7ii7 in developing the terms and   
conditions described in clause 7i7--    
7,i7 ensure1 to the maximum extent      
practicable1 that those terms and       
conditions are not-- 7aa7 duplicative of
 other requirements applicable to rural 
business investment companies2 or  7bb7 
otherwise unnecessary2 and  7,,ii7 take 
into consideration how rural business   
investment companies that have been     
issued a license by the ,secretary under
 section #chd;,d7e7 of the ,consolidated
 ,farm and ,rural ,development ,act 7#g 
,u4,s4,c4 #bjji;cc-#c7;e77 before the   
date of enactment of this section could 
qualify to receive that leverage4  7c7  
,internal evaluation ,not later than    
,june #a of each year1 the              
,administration shall perform an        
evaluation to determine whether the     
,administration will be unable to expend
 all of the covered amounts for the     
fiscal year in which the evaluation is  
made4  2 and  7#b7 in section #ejc7;g7  

7#ae ,u4,s4,c4 #fig7;g771 by inserting 1
 and with respect to leverage granted   
under section #cba1 after retained by   
the ,administration under this section4 
7b7 ,,sba requirements  7#a7            
,establishment of application process   
,not later than #ahj days after the date
 of enactment of this ,act1 the         
,administrator1 in consultation with the
 ,secretary1 shall establish a process  
through which a rural business          
investment company may apply for        
leverage granted under section #cba of  
the ,small ,business ,investment ,act of
 #aieh1 as added by subsection 7a7 of   
this section4  7#b7 ,update to rules    
,not later than #ahj days after the date
 of enactment of this ,act1 and in      
addition to the process established     
under paragraph 7#a71 the ,administrator
 shall make any updates to the rules of 
the ,administration that are necessary  
as a result of this section and the     
amendments made by this section4  #d4   
,interagency working group  7a7         

,establishment ,not later than #ahj days
 after the date of enactment of this    
,act1 the ,administrator1 in            
consultation with the ,secretary1 shall 
establish an interagency working group  
to develop-- 7#a7 administrative        
recommendations for improving the       
coordination between the ,administration
 and the ,department of ,agriculture in 
administering the program carried out   
under part ,a of title ,,iii of the     
,small ,business ,investment ,act of    
#aieh 7#ae ,u4,s4,c4 #fha et seq47 and  
the program carried out under subtitle  
,h of the ,consolidated ,farm and ,rural
 ,development ,act 7#g ,u4,s4,c4        
#bjji;cc et seq471 respectively2 and    
7#b7 legislative recommendations for    
improving capital access and investment 
in rural areas of the ,united ,states   
through the programs described in       
paragraph 7#a71 including by increasing 
the number of licensees under those     
programs4  7b7 ,members  7#a7 ,in       
general ,the ,administrator1 in         

consultation with the ,secretary1 shall 
appoint to the working group such       
representatives from the ,administration
 and the ,department of ,agriculture1   
and such non-,federal industry          
stakeholders1 as the ,administrator1 in 
consultation with the ,secretary1       
determines to be appropriate4  7#b7     
,compensation ,no member of the working 
group may receive any compensation by   
reason of the service of the member on  
the working group4  7c7 ,report to      
,congress ,not later than #ahj days     
after the date on which the working     
group is established under subsection   
7a71 the working group shall submit to  
the appropriate committees of ,congress 
a report that contains-- 7#a7 the       
administrative actions that the         
,administration and the ,department of  
,agriculture should take to make the    
improvements described in paragraph 7#a7
 of that subsection2 and  7#b7 the      
legislative recommendations described in
 paragraph 7#b7 of that subsection4  7d7

 ,termination ,the working group shall  
terminate upon submission of the report 
required under subsection 7c74  7e7     
,implementation of recommendations ,not 
later than #ij days after the date on   
which the working group submits the     
report required under subsection 7c71   
the ,administration and the ,department 
of ,agriculture shall take the          
administrative actions described in     
paragraph 7#a7 of that subsection4  7f7 
,inapplicability of ,federal ,advisory  
,committee ,act ,the ,federal ,advisory 
,committee ,act 7#e ,u4,s4,c4 ,app47    
shall not apply with respect to the     
working group or the activities of the  
working group4