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Investments in Innovation Act of 2025
To amend the Small Business Investment Act of 1958 to exclude from the leverage limit calculation for small business investment companies certain amounts invested in socially and economically disadvantaged small business concerns, and for other purposes.
Summary
This bill amends the Small Business Investment Act to provide flexibility in leverage limits for small business investment companies that focus on investing in socially and economically disadvantaged small businesses. Companies that certify they will invest at least 50 percent of their capital in disadvantaged small businesses may exclude up to 50 percent of their private capital from leverage limit calculations. This allows qualifying companies to have higher maximum leverage limits of up to 300 percent of private capital or $175 million, with a $250 million cap for multiple companies under common control.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Smith, Adam [D-WA-9] (D-WA)
Actions (2)
- Sep 23, 2025 Referred to the House Committee on Small Business. · house
- Sep 23, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
September 23, 2025
Ms. Strickland (for herself and Mr. Smith of Washington) introduced the following bill; which was referred to the Committee on Small Business
A BILL
To amend the Small Business Investment Act of 1958 to exclude from the leverage limit calculation for small business investment companies certain amounts invested in socially and economically disadvantaged small business concerns, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Investments in Innovation Act of 2025”.
SEC. 2. INVESTMENTS IN SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL BUSINESSES.
Section 303(b)(2) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the following new subparagraph:
“(E) Investments in socially and economically disadvantaged small businesses.—
“(i) In general.—Subject to clause (ii), in calculating the outstanding leverage of a company for the purposes of subparagraph (A), the Administrator shall exclude the amount of the cost basis of any equity investment made by the company in a smaller enterprise that is a socially and economically disadvantaged small business concern (as defined in section 8(a)(4) of the Small Business Act (15 U.S.C. 637(a)(4))), to the extent that the total of such amounts does not exceed 50 percent of the company’s private capital.
“(ii) Limitation.—The maximum amount of outstanding leverage made available to—
“(I) any 1 company described in clause (iii) may not exceed the lesser of 300 percent of private capital of the company, or $175,000,000; and
“(II) 2 or more companies described in clause (iii) that are under common control (as determined by the Administrator) may not exceed $250,000,000.
“(iii) Company described.—A company described in this clause is a company licensed under section 301(c) in the first fiscal year after the date of enactment of this clause or any fiscal year thereafter that certifies in writing that not less than 50 percent of the dollar amount of investments of that company shall be made in entities that are socially and economically disadvantaged small business concerns (as defined in section 8(a)(4) of the Small Business Act (15 U.S.C. 637(a)(4))).”. <all>
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