{"abstract":"This direct final rule clarifies and provides technical updates to the Small Business Investment Company Investment Diversification and Growth final rule implemented on August 17, 2023 (SBIC IDG Final Rule), which reduced barriers to program participation for new SBIC fund managers and funds investing in underserved communities and geographies, capital intensive investments, and technologies critical to national security and economic development. In the SBIC IDG Final Rule, SBA introduced a new class of SBICs (\"Accrual\" SBICs) to unlock more patient capital financing for small businesses through the SBIC program and implement changes to lower financial barriers to program participation for new fund managers. This direct final rule will help SBA implement Executive Order 13985, Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, by reducing financial and administrative barriers to participate in the SBIC program and modernizing the program's license offerings to align with a more diversified set of private funds investing in underserved small businesses.","action":"Direct final rule.","agencies":[{"raw_name":"SMALL BUSINESS ADMINISTRATION","name":"Small Business Administration","id":468,"url":"https://www.federalregister.gov/agencies/small-business-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/468","parent_id":null,"slug":"small-business-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2024/01/19/2024-00559.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"107","title":13},{"chapter":null,"citation_url":null,"part":"121","title":13}],"citation":"89 FR 3542","comment_url":null,"comments_close_on":"2024-02-20","correction_of":null,"corrections":[],"dates":"This rule is effective March 4, 2024, without further action, unless significant comment is received by February 20, 2024. If significant adverse comment is received, SBA will publish a timely withdrawal of the rule in the Federal Register.","disposition_notes":null,"docket_ids":[],"dockets":[{"supporting_documents":[],"agency_name":"SBA","documents":[{"comment_count":1,"comment_start_date":"2024-01-19","updated_at":"2024-02-21T00:05:28.193-05:00","comment_url":"https://www.regulations.gov/commenton/SBA-2022-0010-0022","allow_late_comments":null,"id":"SBA-2022-0010-0022","comment_end_date":"2024-02-21","regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":0,"id":"SBA-2022-0010","title":"Small Business Investment Company Investment Diversification and Growth; Technical Amendments and Clarifications"}],"document_number":"2024-00559","effective_on":"2024-03-04","end_page":3549,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2024/01/19/2024-00559.xml","html_url":"https://www.federalregister.gov/documents/2024/01/19/2024-00559/small-business-investment-company-investment-diversification-and-growth-technical-amendments-and","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2024-00559?publication_date=2024-01-19","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2024-01-19/2024-00559/mods.xml","not_received_for_publication":null,"page_length":8,"page_views":{"count":1558,"last_updated":"2026-07-28 08:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2024-01-19/pdf/2024-00559.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2024-00559.pdf?1705585516","publication_date":"2024-01-19","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2024/01/19/2024-00559.txt","regulation_id_number_info":{"3245-AH90":{"issue":"202304","html_url":"https://www.federalregister.gov/regulations/3245-AH90/small-business-investment-company-investment-diversification-and-growth","title":"Small Business Investment Company Investment Diversification and Growth","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202304&RIN=3245-AH90&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"}},"regulation_id_numbers":["3245-AH90"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/3245-AH90/small-business-investment-company-investment-diversification-and-growth","title":"Small Business Investment Company Investment Diversification and Growth"},"comments_count":1,"agency_id":"SBA","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=SBA-2022-0010","supporting_documents_count":0,"docket_id":"SBA-2022-0010","document_id":"SBA-2022-0010-0022","regulation_id_number":"3245-AH90","title":"Small Business Investment Company Investment Diversification and Growth; Technical Amendments and Clarifications","checked_regulationsdotgov_at":"2024-02-21T05:05:27Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":3542,"subtype":null,"title":"Small Business Investment Company Investment Diversification and Growth; Technical Amendments and Clarifications","toc_doc":"Small Business Investment Company Investment Diversification and Growth","toc_subject":null,"topics":["Investment companies","Loan programs-business","Reporting and recordkeeping requirements","Small businesses"],"type":"Rule","volume":89}