To amend the Small Business Investment Act of 1958 to establish the Scale-Up Manufacturing Investment Company (SUMIC) Program.
Summary
What This Bill Does
The bill creates congressional findings documenting the importance of US manufacturing (17.6M jobs, 12% GDP), the "valley of death" funding gap for scaling commercial production, and international competition for manufacturing, amends Title III of the Small Business Investment Act of 1958 to add a new Part G containing the complete SUMIC program framework including definitions, program establishment, and operational provisions, and establishes key definitions for the SUMIC program, including terms like "participating investment fund", "qualifying manufacturing project", "small and emerging manufacturer", and "socially and economically. It relies on compliance mandates, loan guarantees, reporting requirements, and definition changes. The main policy areas are Finance, Trade, and Manufacturing.
Who Benefits and How
Small and emerging manufacturers could gain revenue opportunities, Private investment fund managers meeting $250M minimum could gain revenue opportunities, and Participating investment funds could see lower costs.
Who Bears the Burden and How
Small Business Administration would take on compliance duties, Participating investment funds would take on compliance duties, and Participating investment fund managers and officials could face increased risk.
Key Provisions
- Creates congressional findings documenting the importance of US manufacturing (17.6M jobs, 12% GDP), the "valley of death" funding gap for scaling commercial production, and international competition for manufacturing...
- Amends Title III of the Small Business Investment Act of 1958 to add a new Part G containing the complete SUMIC program framework including definitions, program establishment, and operational provisions.
- Establishes key definitions for the SUMIC program, including terms like "participating investment fund", "qualifying manufacturing project", "small and emerging manufacturer", and "socially and economically...
- Establishes the Scale-Up Manufacturing Investment Company (SUMIC) program directing the SBA Administrator to provide leverage to participating investment funds for debt and equity investments in qualifying manufacturing...
- Establishes application and selection criteria for private investment funds to participate in the SUMIC program, requiring demonstrated investment experience, track record, and manufacturing expertise with 180-day...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates congressional findings documenting the importance of US manufacturing (17.6M jobs, 12% GDP), the "valley of death" funding gap for scaling commercial production, and international competition for manufacturing, amends Title III of the Small Business Investment Act of 1958 to add a new Part G containing the complete SUMIC program framework including definitions, program establishment, and operational provisions, and establishes key definitions for the SUMIC program, including terms like "participating investment fund", "qualifying manufacturing project", "small and emerging manufacturer", and "socially and economically.
Key Policy Areas
Finance, Trade, Manufacturing
Primary Purpose
The bill creates congressional findings documenting the importance of US manufacturing (17.6M jobs, 12% GDP), the "valley of death" funding gap for scaling commercial production, and international competition for manufacturing, amends Title III of the Small Business Investment Act of 1958 to add a new Part G containing the complete SUMIC program framework including definitions, program establishment, and operational provisions, and establishes key definitions for the SUMIC program, including terms like "participating investment fund", "qualifying manufacturing project", "small and emerging manufacturer", and "socially and economically.
Policy Domains
Section 2 - Congressional Findings
Identified Gains
- Small and emerging manufacturers
- Private investment fund managers meeting $250M minimum
- Participating investment funds
- Women-owned small manufacturers
- Veteran-owned small manufacturers
Identified Costs
- Small Business Administration
- Participating investment funds
- Participating investment fund managers and officials
- Private equity and investment fund managers seeking SUMIC participation
- Participating investment fund owners, officers, directors, and employees
Legislative Progress
IntroducedMr. Booker introduced the following bill; which was read twice …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
National banks and Federal Reserve member banks, Participating investment fund managers and officials, Participating investment fund owners, officers, directors, and employees
Participating investment funds faces effects in multiple directions
Positive-direction: National banks and Federal Reserve member banks, Private equity firms with manufacturing investment experience, Private investment fund managers, Private investment fund managers meeting $250M minimum, Private investment funds
Negative-direction: Participating investment fund managers and officials, Participating investment fund owners, officers, directors, and employees, Private equity and investment fund managers seeking SUMIC participation
Small and emerging manufacturers, Small and emerging manufacturers in the United States, Veteran-owned small manufacturers
Federal Financing Bank, Small Business Administration
Positive-direction: Federal Financing Bank
Negative-direction: Small Business Administration
Certified public accountants, Private sector examination contractors
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_administrator"
- → Administrator of the Small Business Administration
- "the_associate_administrator"
- → Associate Administrator described in section 201 of the Small Business Investment Act
Key Definitions
Terms defined in this bill
The Associate Administrator described in section 201 of the Small Business Investment Act
The Scale-Up Manufacturing Investment Company Credit Council that may be established under section 399K
A privately managed investment fund licensed under section 399C to operate under the program
Has the meaning given the term in section 103(9) of the Small Business Investment Act
The scale-up manufacturing investment company program established under section 399B
An investment in a small and emerging manufacturer for the purposes of building first commercial production facilities, novel manufacturing capabilities, or the introduction into production of emerging manufacturing technologies
Any advanced manufacturer that does not exceed the size standard established by the Administrator for the applicable NAICS code under section 3 of the Small Business Act
Has the meaning given the term in section 8(d)(3)(C) of the Small Business Act (15 U.S.C. 637(d)(3)(C))
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology