265
edits
Changes
Jump to navigation
Jump to search
==Bill Text==[Congressional Bills The bill was previously introduced in the 114th Congress][From in 2016 where it passed the U.SHouse. Government Publishing Office][H.R. 4854 Received The previous and current bill differ mainly in Senate clause (RDS2)](C) in their clarifications of the term "qualifying venture capital fund" and "venture capital fund".
114th ==2017 Bill Text==115th CONGRESS 2d 1st Session H. R. 48541219IN THE SENATE OF THE UNITED STATESApril 6 (legislative day, April 4), 2017Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,SECTION 1. SHORT TITLE.
IN THE SENATE OF THE UNITED STATES July 6, 2016 ReceivedSEC. 2. INVESTOR LIMITATION FOR QUALIFYING VENTURE CAPITAL FUNDS.
_______________________________________________________________________Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—
AN ACT(1) in the matter preceding subparagraph (A), by inserting “(or, in the case of a qualifying venture capital fund, 250 persons)” after “one hundred persons”; and
To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Supporting America's Innovators Act of 2016''. SEC. 2. INVESTOR LIMITATION FOR QUALIFYING VENTURE CAPITAL FUNDS. Section 3(c)(1) of the Investment Company Act of 1940 “(15 U.S.C. 80a-3(c)(1)) is amended-- (1) by inserting after ``one hundred persons'' the following: ``(or, with respect to a qualifying venture capital fund, 250 persons)''; and (2) by adding at the end the following: ``(Ci) The term `qualifying ‘qualifying venture capital fund' fund’ means any a venture capital fund (as defined pursuant to section 203(l)(1) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-3(l)(1)) with no that has not more than $10,000,000 in invested aggregate capital contributions and uncalled committed capital, as with such dollar amount is annually adjusted to be indexed for inflation once every 5 years by the Commission to reflect , beginning from a measurement made by the change in the Consumer Price Index for All Urban Consumers published Commission on a date selected by the Bureau of Labor Statistics of Commission, rounded to the Department of Labor.''nearest $1,000,000.
Passed “(ii) The term ‘venture capital fund’ has the House meaning given the term in section 275.203(l)–1 of title 17, Code of Representatives July 5Federal Regulations, 2016or any successor regulation.”.
Attest:Passed the House of Representatives April 6, 2017.
KAREN LAttest: karen l. HAAShaas, Clerk
Clerk==Resources==[https://www.congress.gov/bill/115th-congress/house-bill/1219/ Link to 115th Congress bill page][https://www.congress.gov/bill/114th-congress/house-bill/4854 Link to 114th Congress bill page]
==References==https[[Category://www.congress.gov/bill/114th-congress/house-bill/4854Legislation]] [[Category: McCarthy]]
115-HR1219 Supporting America's Innovators Act (view source)
Revision as of 15:04, 18 April 2017
, 15:04, 18 April 2017no edit summary
{{McCarthysInnovationInitiativeLegislation|Name of BillHas title=H.R.4854 115-HR1219 Supporting America's Innovators Act|YearProposed in=2016115|SponsorSponsored by=Rep. McHenry, Patrick T. (R-NC-10)|CosponsorReviewing committee=Rep. Schweikert, David (RHouse -AZ-6)Financial Services|Status of BillHas bill status=Passed House,Proposed|Related BillsHas keywords=Financial CHOICE Act of 2016, Creating Financial Prosperity for Businesses and Investors Act,McCarthy
}}
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
AN ACT
To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company.
This Act may be cited as the “Supporting America’s Innovators Act of 2017”.
(2) by adding at the end the following:
