S.Amdt. 2169

SA 2169. Mr. RUBIO submitted an amendment intended to be proposed by
him to the bill S. 2155, to promote economic growth, provide tailored
regulatory relief, and enhance consumer protections, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. IMPROVING THE NUMBER OF SMALL BUSINESS INVESTMENT
COMPANIES IN UNDERLICENSED STATES.

The Small Business Investment Act of 1958 (15 U.S.C. 661 et
seq.) is amended--
(1) in section 103 (15 U.S.C. 662)--
(A) in paragraph (18)(E), by striking ``and'' at the end;
(B) in paragraph (19), by striking the period at the end
and inserting ``; and''; and
(C) by adding at the end the following:
``(20) the term `underlicensed State' means a State in
which the number of licensees per capita is less than the
median number of licensees per capita for all States, as
calculated by the Administrator.'';
(2) in section 301(c) (15 U.S.C. 681(c))--
(A) in paragraph (3)--
(i) in subparagraph (B)(iii), by striking ``and'' at the
end;
(ii) in subparagraph (C), by striking the period at the end
and inserting ``; and''; and
(iii) by adding at the end the following:
``(D) shall give first priority to an applicant that is
located in an underlicensed State with below median
financing, as determined by the Administrator.''; and
(B) in paragraph (4)(B)--
(i) by striking clause (i);
(ii) by redesignating clauses (ii) and (iii) as clauses (i)
and (ii), respectively; and
(iii) by amending clause (i), as so redesignated, to read
as follows:
``(i) is located in a State that--

``(I) is not served by a licensee; or
``(II) is an underlicensed State; and''; and

(3) in section 308(g) (15 U.S.C. 687(g))--
(A) in paragraph (2)--
(i) in subparagraph (B), by inserting ``and licensing''
after ``financing'';
(ii) by redesignating subparagraphs (C) through (J) as
subparagraphs (E), through (L), respectively; and
(iii) by inserting after subparagraph (B) the following:
``(C) The steps the Administration has taken to improve the
number of licensees in underlicensed States.
``(D) The Administration's plans to support States that
seek to increase the number of licensees in the State.''; and
(B) in paragraph (3)--
(i) in subparagraph (C), by striking ``and'' at the end;
(ii) in subparagraph (D), by striking the period at the end
and inserting ``; and''; and
(iii) by adding at the end the following:
``(E) the geographic dispersion of licensees in each State
compared to the population of the State, identifying
underlicensed States.''.
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