Today In Washington
January 24, 2018
Source: AEO Government Relations Team, Madison Services Group
S. 2324, the “Small Business Credit Availability Act,” introduced by Senator Dean Heller (R-NV). This bill amends the Investment Company Act of 1940 to reduce Business Development Company (BDC) asset coverage requirements from 200% to 150% for qualified BDCs. It also directs the Securities & Exchange Commission to remove exclusions applicable to BDCs, relating to securities offerings and proxy rules.