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    <RIN_INFO>
        <RIN>3245-AG32</RIN>
        <PUBLICATION>
            <PUBLICATION_ID>201110</PUBLICATION_ID>
            <PUBLICATION_TITLE>The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions</PUBLICATION_TITLE>
        </PUBLICATION>
        <AGENCY>
            <CODE>3245</CODE>
            <NAME>Small Business Administration</NAME>
            <ACRONYM>SBA</ACRONYM>
        </AGENCY>
        <RULE_TITLE>Small Business Investment Companies-- Early Stage SBICs</RULE_TITLE>
        <ABSTRACT><![CDATA[To address a critical market need for early stage equity financing, SBA proposes to license a limited number of Small Business Investment Companies (SBICs) each year that are focused on providing equity capital to seed and early stage small businesses.  These SBICs would be designated as "Innovation Funds."    SBA leverage is available to SBICs through a debenture instrument, the structure of which  was not designed to address the needs or circumstances of early stage investors, and thus presents certain repayment risks for such investors.  However, with certain regulatory changes, the risk associated with providing debenture leverage to Innovation Funds may be significantly reduced.  This rule would establish a number of regulatory provisions applicable to Innovation Funds for the purpose of managing overall program risk, including lower limits on maximum leverage eligibility and special distribution rules.]]></ABSTRACT>
        <PRIORITY_CATEGORY>Other Significant</PRIORITY_CATEGORY>
        <RIN_STATUS>Previously Published in The Unified Agenda</RIN_STATUS>
        <RULE_STAGE>Proposed Rule Stage</RULE_STAGE>
        <MAJOR>No</MAJOR>
        <UNFUNDED_MANDATE_LIST>
            <UNFUNDED_MANDATE>No</UNFUNDED_MANDATE>
        </UNFUNDED_MANDATE_LIST>
        <CFR_LIST>
            <CFR>13 CFR 107</CFR>
        </CFR_LIST>
        <LEGAL_AUTHORITY_LIST>
            <LEGAL_AUTHORITY>15 USC 636(a)(32)</LEGAL_AUTHORITY>
        </LEGAL_AUTHORITY_LIST>
        <LEGAL_DLINE_LIST/>
        <RPLAN_ENTRY>No</RPLAN_ENTRY>
        <TIMETABLE_LIST>
            <TIMETABLE>
                <TTBL_ACTION>NPRM</TTBL_ACTION>
                <TTBL_DATE>12/09/2011</TTBL_DATE>
                <FR_CITATION>76 FR 76907</FR_CITATION>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>NPRM Comment Period End</TTBL_ACTION>
                <TTBL_DATE>02/07/2012</TTBL_DATE>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>Final Action</TTBL_ACTION>
                <TTBL_DATE>04/00/2012</TTBL_DATE>
            </TIMETABLE>
        </TIMETABLE_LIST>
        <RFA_REQUIRED>Yes</RFA_REQUIRED>
        <SMALL_ENTITY_LIST>
            <SMALL_ENTITY>Businesses</SMALL_ENTITY>
        </SMALL_ENTITY_LIST>
        <GOVT_LEVEL_LIST>
            <GOVT_LEVEL>None</GOVT_LEVEL>
        </GOVT_LEVEL_LIST>
        <FEDERALISM>No</FEDERALISM>
        <ENERGY_AFFECTED>No</ENERGY_AFFECTED>
        <PRINT_PAPER>Yes</PRINT_PAPER>
        <INTERNATIONAL_INTEREST>No</INTERNATIONAL_INTEREST>
        <AGENCY_CONTACT_LIST>
            <CONTACT>
                <FIRST_NAME>Carol</FIRST_NAME>
                <LAST_NAME>Fendler</LAST_NAME>
                <TITLE>Systems Accountant, Office of Investment</TITLE>
                <AGENCY>
                    <CODE>3245</CODE>
                    <NAME>Small Business Administration</NAME>
                    <ACRONYM>SBA</ACRONYM>
                </AGENCY>
                <PHONE>202 205-7559</PHONE>
                <EMAIL>carol.fendler@sba.gov</EMAIL>
                <MAILING_ADDRESS>
                    <STREET_ADDRESS>409 Third Street SW., 6th Floor,</STREET_ADDRESS>
                    <CITY>Washington</CITY>
                    <STATE>DC</STATE>
                    <ZIP>20416</ZIP>
                </MAILING_ADDRESS>
            </CONTACT>
        </AGENCY_CONTACT_LIST>
    </RIN_INFO>
</REGINFO_RIN_DATA>
