,,ii #aaith ,,congress #ast ,session ,s4 #aiag ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bb1 #bjbe ,mr4 ,hickenlooper 7for himself and ,mr4 ,marshall7 introduced the following bill2 which was read twice and referred to the ,committee on ,small ,business and ,entrepreneurship ,a ,,bill ,to amend the ,small ,business ,investment ,act of #aieh to exclude from the limit on leverage certain amounts invested in smaller enterprises located in rural or low-income areas and small businesses in critical technology areas1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,investing in ,all of ,america ,act of #bjbe4 #b4 ,small business investment company maximum leverage exclusion 7a7 ,definitions ,section #ajc7i7 of the ,small ,business ,investment ,act of #aieh 7#ae ,u4,s4,c4 #ffb7i77 is amended-- 7#a7 in subparagraph 7,a77ii71 by striking and at the end2 7#b7 in subparagraph 7,b77iii7-- 7,a7 in subclause 7,i71 by striking established prior to ,october #a1 #aihg2 7,b7 in subclause 7,,ii7-- 7i7 by striking or and inserting 12 and 7ii7 by inserting 1 or a foundation1 endowment1 or trust of a college or university after pension plan2 and 7,c7 in subclause 7,,iii71 by striking the semicolon at the end and inserting 2 and2 and 7#c7 by adding at the end the following3 7,c7 does not include any funds obtained directly or indirectly from any ,federal1 ,state or local government or any government agency or instrumentality1 except for funds described in subclauses 7,i7 through 7,,iii7 of subparagraph 7,b77iii71 for the purpose of approval by the ,administrator of any request for leverage4 4 7b7 ,maximum leverage exclusion ,section #cjc7;b77#b7 of the ,small ,business ,investment ,act of #aieh 7#ae ,u4,s4,c4 #fhc7;b77#b77 is amended-- 7#a7 in subparagraph 7,a7-- 7,a7 in clause 7i71 by striking #cjj and inserting #bjj2 and 7,b7 by striking clause 7ii7 and inserting the following3 7ii7 7,i7 with respect to such a company that makes quarterly or semiannual interest payments1 #age1jjj1jjj1 as adjusted in accordance with subparagraph 7,e72 or 7,,ii7 #age1jjj1jjj with respect to any other such company4 2 7#b7 in subparagraph 7,b71 by striking may not exceed #cej1jjj1jjj4 and inserting the following3 8may not exceed-- 7i7 with respect to such companies that are commonly controlled and that make quarterly or semiannual interest payments1 #cej1jjj1jjj1 as adjusted in accordance with subparagraph 7,e72 or 7ii7 #cej1jjj1jjj with respect to other such companies that are commonly controlled4 2 7#c7 in subparagraph 7,c7-- 7,a7 in the heading-- 7i7 by inserting or rural after low-income2 and 7ii7 by inserting 1 critical technology areas1 or small manufacturers after geographic areas2 7,b7 in clause 7i7-- 7i7 by striking 7i7 ,in calculating and inserting the following3 7i7 ,in general ,except as provided in clause 7iii71 in calculating 2 7ii7 by inserting or companies after of a company2 7iii7 by striking subparagraph 7,a7 and inserting subparagraphs 7,a7 and 7,b72 7iv7 by striking equity2 and 7v7 by striking the company in a smaller enterprise and all that follows and inserting the following3 the company or companies in-- 7,i7 a small business concern located in a low-income geographic area 7as defined in section #cea of this title7 or in a rural area 7as defined in section #cdc7;a7 of the ,agricultural ,act of #aifa 7#g ,u4,s4,c4 #aiia7;a7772 7,,ii7 a small business concern operating primarily in a covered technology category 7as defined in section #adi of title #aj1 ,united ,states ,code72 or 7,,iii7 a small manufacturer 7as defined in section #eja7;e7 of this ,act74 2 and 7,c7 by amending clause 7ii7 to read as follows3 7ii7 ,limitation ,while maintaining the limitation of subparagraph 7,a77i7 and consistent with a leverage determination ratio issued pursuant to section #cja7;c71 the aggregate amount excluded for a company or companies under clause 7i7 from the calculation of the outstanding leverage such company or companies for the purposes of subparagraphs 7,a7 and 7,b7 may not exceed the lesser of #ej percent of the private capital of such company or companies or #abe1jjj1jjj 2 and 7,d7 by amending clause 7iii7 to read as follows3 7iii7 ,prospective applicability ,an investment by a licensee is eligible for exclusion from the calculation of outstanding leverage under clause 7i7 only if such investment is made by such licensee after the date of enactment of this clause4 2 and 7#d7 by adding at the end the following3 7,e7 ,annual adjustment ,except as provided in subparagraph 7,f71 the ,administrator shall adjust the dollar amounts described in subparagraphs 7,a7 and 7,b7-- 7i7 on the date of the enactment of this subparagraph1 by a percentage equal to the percentage 7if any7 by which the ,consumer ,price ,index 7all items2 ,united ,states city average71 as published by the ,bureau of ,labor ,statistics1 increased during the period-- 7,i7 beginning on ,december #ah1 #bjae1 and ending on the date of enactment of the ,investing in ,all of ,america ,act of #bjbe1 with respect to a dollar amount under subparagraph 7,b72 and 7,,ii7 beginning on ,june #ba1 #bjah1 and ending on the date of enactment of the ,investing in ,all of ,america ,act of #bjbe1 with respect to a dollar amount under subparagraph 7,a72 and 7ii7 on the date that is #a year after the date of enactment of the ,investing in ,all of ,america ,act of #bjbe1 and annually thereafter1 by a percentage equal to the percentage 7if any7 by which the ,consumer ,price ,index 7all items2 ,united ,states city average71 as published by the ,bureau of ,labor ,statistics1 increased during the #a-year period preceding the date of the adjustment under this clause4 7,f7 ,exclusion ,subparagraph 7,e7 shall not apply with respect to a small business investment company authorized to issue accrual debentures 7as defined in section #ajg4ej of title #ac1 ,code of ,federal ,regulations74 4