The House of Representatives unanimously passed U.S. Rep. Blaine Luetkemeyer’s (MO-03) legislation that would reduce duplicative regulatory burdens for advisers of Small Business Investment Companies (SBICs).

H.R. 4200, the SBIC Advisers Relief Act, accomplishes several things: it allows SBIC advisers that jointly advise SBICs and venture funds to be exempt from registration; it excludes SBIC assets from the SEC registration threshold calculation; and it allows SBIC funds with less than $90 million in assets under management to be regulated solely by the U.S. Small Business Administration, as they are today.

“I am very pleased the House of Representatives recognized the importance of this legislation and of greater investment in our nation’s small businesses,” Luetkemeyer said. “H.R. 4200 will reduce regulatory burdens for the advisers to investment funds that make long-term investments in U.S. small businesses. Several unintended consequences have hampered those advisers since the passage of the Dodd-Frank Act, and this common-sense legislation would relieve those burdens. Most importantly, this legislation includes sensible provisions that prevent redundant regulatory mandates and allow for greater investment in America’s small businesses. It is my hope the Senate will hotline my legislation and the president will sign H.R. 4200 into law before the end of the year.”