Bill Details
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This bill would change a small part of federal securities law so that rural-area small businesses are specifically included in existing efforts to help small businesses raise money. In plain terms, it is meant to give businesses in rural communities more help and more visibility when they are looking for investors or other forms of capital. The bill does not create a brand-new program. Instead, it updates current law so rural small businesses are named alongside other groups that already receive attention in federal capital-access efforts. Supporters likely see this as a way to make it easier for rural job creators to grow, hire, and stay competitive.
- It amends the Securities Exchange Act of 1934, which is the main federal law that helps regulate the stock market and related business financing rules.
- The bill adds “rural-area small businesses” to two places in existing law where women-owned small businesses are already mentioned.
- This change is meant to make sure rural businesses are included in federal work focused on helping small companies find capital.
- The overall goal is to expand access to funding for small businesses in rural communities.
Official Summaries
Expanding Access to Capital for Rural Job Creators Act
This bill requires the Office of the Advocate for Small Business Capital Formation within the Securities and Exchange Commission to report on issues encountered by rural-area small businesses.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 577 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 577
To amend the Securities Exchange Act of 1934 to expand access to
capital for rural-area small businesses, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 13, 2025
Mr. Kennedy (for himself, Mrs. Capito, Mr. Peters, and Mr. Warnock)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To amend the Securities Exchange Act of 1934 to expand access to
capital for rural-area small businesses, 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 ``Expanding Access to Capital for
Rural Job Creators Act''.
SEC. 2. ACCESS TO CAPITAL FOR RURAL-AREA SMALL BUSINESSES.
Section 4(j) of the Securities Exchange Act of 1934 (15 U.S.C.
78d(j)) is amended--
(1) in paragraph (4)(C), by inserting ``rural-area small
businesses,'' after ``women-owned small businesses,''; and
(2) in paragraph (6)(B)(iii), by inserting ``rural-area
small businesses,'' after ``women-owned small businesses,''.
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