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S. 2962

U.S. Senate•In Senate Committee

Summary

S. 2962, the Small Business Investor Tax Parity Act of 2025, was introduced in the Senate on Oct 1, 2025 by Sen. Jim Banks (R) with 3 co-sponsors. It was referred to Finance, and last saw action on Oct 1, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 2962 has 3 co-sponsors.

sb2962/introduced-in-senate.txt
119 S2962 IS: Small Business Investor Tax Parity Act of 2025
 U.S. Senate
 2025-10-01
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 2962  IN THE SENATE OF THE UNITED STATES   October 1, 2025   Mr. Banks  introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to allow the deduction under section 199A to apply to qualified BDC interest dividends in the same manner as qualified REIT dividends.
1.
Short title
This Act may be cited as the   Small Business Investor Tax Parity Act of 2025  .
2.
Deduction for qualified business income to apply to certain interest dividends of qualified business development companies
(a)
In general
Subsections (b)(1)(B) and (c)(1) of  section 199A  of the Internal Revenue Code of 1986 are each amended by inserting  , qualified BDC interest dividends,  after  qualified REIT dividends .
(b)
Qualified BDC interest dividend defined
 Section 199A(e)  of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
(5)
Qualified BDC interest dividend
(A)
In general
The term  qualified BDC interest dividend  means any dividend from an electing business development company received during the taxable year which is attributable to net interest income of such company which is properly allocable to a qualified trade or business of such company.
(B)
Electing business development company
For purposes of this paragraph, the term  electing business development company  means a business development company (as defined in section 2(a) of the Investment Company Act of 1940) which has an election in effect under section 851 to be treated as a regulated investment company.
 .
(c)
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2026.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-10-01
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

A bill to amend the Internal Revenue Code of 1986 to allow the deduction under section 199A to apply to qualified BDC interest dividends in the same manner as qualified REIT dividends.

Sponsors

Sen. Jim Banks (R) sponsors S. 2962, and 3 members have co-sponsored it.

Committees

S. 2962 went before 1 committee: Finance.

Finance
Finance
Referred To · Oct 1, 2025 · 902 Bills

Actions

S. 2962 has taken 2 actions since Oct 1, 2025.

ChamberAction
Oct 1, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
Oct 1, 2025
—
Introduced in Senate

Votes

S. 2962 has not gone to a roll call.

2 bills are related to S. 2962.

Titles

S. 2962 goes by 3 titles, 1 of them short titles.

  • Small Business Investor Tax Parity Act of 2025 — Display Title
  • Small Business Investor Tax Parity Act of 2025 — Short Title(s) as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to allow the deduction under section 199A to apply to qualified BDC interest dividends in the same manner as qualified REIT dividends. — Official Title as Introduced

Lobbying

2 clients hired 2 firms and 7 registered lobbyists who named S. 2962 in 3 quarterly filings, 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Taxation/Internal Revenue Code, Retirement.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
BLUE OWL CAPITAL HOLDINGS LLCalternative asset managerNew York12$160K
FUTURE STANDARD—Pennsylvania11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
ARNOLD & PORTER KAYE SCHOLER LLP12$160K
FUTURE STANDARD11—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
DYLAN KELEMEN112
JANICE BASHFORD112
KEVIN O'NEILL112
MARK EPLEY112
RON KIND112
TWINKLE PATEL112
JASON COLE111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
FUTURE STANDARDFUTURE STANDARD2026 second_quarter$120K2nd Quarter - Report
BLUE OWL CAPITAL HOLDINGS LLCARNOLD & PORTER KAYE SCHOLER LLP2026 second_quarter$80K2nd Quarter - Report
BLUE OWL CAPITAL HOLDINGS LLCARNOLD & PORTER KAYE SCHOLER LLP2026 first_quarter$80K1st Quarter - Report

Classification

The Congressional Research Service files S. 2962 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 2962’s is Taxation.

s2962/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com