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HR2066FEDERALsigned
Enacted

Investing in All of America Act of 2025

March 11, 2025

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Where This Stands

Introduced
Committee
Floor Vote
Passed
Signed

Current status: signed.

Last action
Became Public Law No: 119-92.May 19, 2026

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

The law changes the amount of capital Small Business Investment Companies can access and directs more of that funding toward rural, low-income, tech, and manufacturing businesses, potentially increasing the availability of investment capital for these specific sectors.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small Business Investment Companies (SBICs)

SBICs face new leverage limits and updated criteria for which investments can be excluded from their leverage calculations.

Small businesses in rural, low-income, tech, and manufacturing sectors

These businesses may see increased access to capital as SBICs are incentivized to invest in these specific categories.

College and university endowments

These entities are now explicitly included in the definition of private capital for SBIC leverage purposes.

What changed

Current stage: signed.

What's next

Next step not available in the current record.

Summary

This law updates federal rules for Small Business Investment Companies (s) to encourage more investment in rural areas, low-income communities, critical technology sectors, and small manufacturing businesses. It adjusts the maximum amount of government-backed these companies can access and expands the types of funds that qualify for investment.

Key Facts

  • Increases the maximum leverage limit for commonly controlled SBICs to $475 million for those making quarterly or semiannual interest payments.
  • Sets a $350 million leverage limit for other commonly controlled SBICs.
  • Sets a $250 million leverage limit for individual SBICs making quarterly or semiannual interest payments.
  • Sets a $175 million leverage limit for other individual SBICs.
  • Excludes investments in rural areas, low-income areas, critical technology sectors, and small manufacturers from the calculation of outstanding leverage.
  • Caps the aggregate exclusion for these specific investments at the lesser of 50 percent of private capital or $125 million.
  • Limits the leverage exclusion to investments made after the date of enactment (May 19, 2026).
  • Expands the definition of private capital to include funds from college or university foundations, endowments, or trusts.
  • Clarifies that funds obtained from government agencies are generally excluded from leverage calculations, with specific exceptions.

Frequently Asked Questions

What is an SBIC?
A Small Business Investment Company is a privately owned and managed investment fund that is licensed and regulated by the Small Business Administration to provide capital to small businesses.
Does this law apply to past investments?
No, the exclusion only applies to investments made after the law's enactment date of May 19, 2026.
What types of businesses are prioritized for this new investment?
The law prioritizes small businesses in low-income geographic areas, rural areas, critical technology sectors, and small manufacturers.

Why It Matters

The law changes the amount of capital Small Business Investment Companies can access and directs more of that funding toward rural, low-income, tech, and manufacturing businesses, potentially increasing the availability of investment capital for these specific sectors.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Lobbying Activity

AARP

$4,110,000

2026

HEALTH ISSUESMEDICARE/MEDICAIDLAW ENFORCEMENT/CRIME/CRIMINAL JUSTICEPHARMACY

P.L. 119-21, One Big Beautiful Bill Act H.R. 8867, Planning for Long-term Aging Needs (PLAN) Act H.R. 5861, Legacy Act of 2025 H.R. 9393, the Lower Costs, More Transparency Act. H.R. 9396, the Prior Authorization Accountability Act. S. 4916, the Aging with Artificial Intelligence Act. H.R. 8100, Safe Staffing Saves Lives Act. S. 3886, Nurses Belong in Nursing Homes Act. H.R. 6766/S. 3492, the Essential Caregivers Act of 2025. H.R. 7966/S. 4118, Hospice Care Accountability, Reform, and Enforcement (Hospice CARE) Act. S. 2120, the Older Americans Act Reauthorization Act of 2025 H.R. 5575, the Firefighters Assisting Seniors to Emergency Response (FASTER) Act of 2025. H.R. 3954/S. 4641, Improving Access to Medicare Coverage Act. H.R.5554/S.2831, Stand Strong for Medicare Act. S. 3439/H.R. 6735, Connecting Caregivers to Medicare Act and efforts related to the bill S. 1227/H.R. 2491, Alleviating Barriers for Caregivers Act S. 668/H.R. 3183, Supporting Access to Falls Education and Prevention and Strengthening Training Efforts and Promoting Safety Initiatives (SAFE STEPS) for Veterans Act of 2025 CMS-1851-P, Hospice Proposed rule. CMS-1843-P, Skilled Nursing Facility Proposed rule. CMS-1844-P, Home Health Proposed rule. No bill number. Health care transparency. No bill number. Discussed use of artificial intelligence and health data technology. No bill number. Discussed health-related policies and activities around the fall respiratory virus season. No bill number. Discussed health insurance affordability proposals. No bill number. Discussed Nursing Home staffing standards, safety, and quality. No bill number. Discussed Nursing home transparency and ownership requirements. No bill number. Discussed home health, hospice, and long-term care. No bill number. Discussed falls prevention. No bill number. Discussed social isolation. No bill number. Discussed HUD Assisted Living Requirements No bill number. Discussed family caregiving. No bill number. Discussed AARP paper on Medicare Caregiver Training Services. No bill number. Discussed Medicaid community engagement interim final rule, including the family caregiver exemption. No bill number. Discussed the paid direct care workforce in long-term care. No bill number. Discussed the unaffordability of long-term care. No bill number. Discussed Money Follows the Person Rebalancing Demonstration Program and Medicaid HCBS spousal impoverishment protections. No bill number. Discussed Medicaid fraud and family caregivers, Medicaid self-direction programs. No bill number. Discussed sandwich generation family caregiver hearing and submitted a statement for the record discussing family caregivers and sandwich generation caregivers, programs that support them, AARP caregiving resources, and federal policies to support sandwich generation caregivers and caregivers more broadly. No bill number. Discussed long-term care. No bill number. CMS-2453-NC; Medicaid Program; 2028 Medicaid Home and Community-Based Services Quality Measure Set Submitted comments No bill number. Discussed expanding access to home care. No bill number. Discussed the increasing cost of home care No bill number. Discussed HSA use for telehealth chronic care management services/subscriptions. No bill number. Discussed artificial intelligence and technology

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Targeted Investment Incentives

The law explicitly shifts SBIC investment incentives toward specific policy goals: rural development, low-income area support, critical technology, and manufacturing.

Connected Entities

otherSmall Business Investment Act of 1958The primary statute being amendedMap →

Analysis Score

0–100
  • Significance65
    How much this matters to a regular citizen
  • Controversy10
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz15
    Current news / social attention level

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