Sec. 2. IMPROVING THE NUMBER OF SMALL BUSINESS INVESTMENT COMPANIES IN UNDERLICENSED STATES
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## SEC. 2 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) > > Steps taken by the Administration 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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Sec. 2
IMPROVING THE NUMBER OF SMALL BUSINESS INVESTMENT COMPANIES IN UNDERLICENSED STATES
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