RBIC Advisers Relief Act of 2018

Mr. Speaker, I missed some votes on Wednesday, December 19, all votes on Thursday, December 20, and some votes today. Had I been present, I would have voted as follows:

Roll Call Vote Number 440 (Passage of H.R. 7327, the SECURE Technology Act): YES;

Roll Call Vote Number 441 (Passage of H.R. 7279, the Water Infrastructure Improvement Act): YES;

Roll Call Vote Number 442 (Passage of H.R. 6227, the National Quantum Initiative Act): YES;

Roll Call Vote Number 443 (Passage of H.R. 6652): YES;

Roll Call Vote 444 (Passage of S. 1520, the Modernizing Recreational Fisheries Management Act of 2018): YES;

Roll Call Vote Number 445 (Passage of S. 3530, the Museum and Library Services Act of 2018): YES;

Roll Call Vote Number 446 (Agreeing to H. Res. 1180): NO;

Roll Call Vote Number 447 (Agreeing to H. Res. 1181): YES;

Roll Call Vote Number 448 (Concurring in the Senate Amendment to the House Amendment to S. 756, the First Step Act of 2018): YES;

Roll Call Vote Number 449 (Passage of H.R. 7328, the Pandemic and All-Hazards Preparedness and Advancing Innovation Act of 2018): YES;

Roll Call Vote Number 450 (Concurring in the Senate Amendment to H.R. 5075, the Ashanti Alert Act of 2018): YES;

Roll Call Vote Number 451 (Passage of H.R. 7093, the Clean Up the Code Act of 2018): YES;

Roll Call Vote Number 452 (Passage of S. 2896, the Justice Against Corruption on K Street Act of 2018 or JACK Act): YES;

Roll Call Vote Number 453 (Passage of S. 2961, the Victims of Child Abuse Act Reauthorization Act of 2018): YES;

Roll Call Vote Number 454 (Passage of S. 2679, the Veterans Small Business Enhancement Act): YES;

Roll Call Vote Number 455 (Passage of H.R. 7227, the Taxpayer First Act of 2018): YES;

Roll Call Vote Number 456 (Concurring in the Senate Amendment to H.R. 4227, the Vehicular Terrorism Prevention Act of 2019): YES;

Roll Call Vote Number 457 (Passage of S. 2652, the Stephen Michael Gleason Congressional Gold Medal Act): YES;

Roll Call Vote Number 458 (Passage of S. 2765, the RBIC Advisers Relief Act of 2018): YES;

Roll Call Vote Number 459 (Concurring in the Senate Amendment to H.R. 5509, the Innovations in Mentoring, Training, and Apprenticeships Act):

Mr. Speaker, I move to suspend the rules and pass the bill (S. 2765) to amend the Investment Advisers Act of 1940 to exempt investment advisers who solely advise certain rural business investment companies, and for other purposes.

Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks and to include any extraneous material on this bill.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, this critical bill has broad and extensive bipartisan support, and I urge all Members to support this legislation.

A few years ago, we had gone in and done a technical fix regarding small businesses, and this Rural Business Investment Company, or the RBIC, deals with language that will allow the advisers to go in and deal with rural businesses--not just small business, but these rural businesses. We think that this is an important step to helping rural America continue the economic recovery that they have seen over the last year or two.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I just want to note that we are having our second Senate bill from Louisiana, so we are covering our colleagues from down in Louisiana.

I just want to encourage my colleagues to support this important piece of legislation, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I am pleased that the House is taking up S. 2765, a bill that shows once again that Democrats support investment, job creation, and the development of wealth in rural areas.

The bill is simple. It extends the exemption from registration in the Dodd-Frank Act to certain advisers to small private funds known as Rural Business Investment Companies, which are regulated by the USDA and are required to provide significant financing to rural area small businesses.

Mr. Speaker, I support the bill, and I yield back the balance of my time.

Mr. President, I ask unanimous consent that the Committee on Banking, Housing, and Urban Affairs be discharged from further consideration of S. 2765 and the Senate proceed to its immediate consideration.

I ask unanimous consent that the bill be considered read a third time and passed and the motion to reconsider be considered made and laid upon the table.

Mr. Speaker, on that I demand the yeas and nays.