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[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1219 Introduced in House (IH)]
1st Session H. R. 1219 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. _______________________________________________________________________ IN THE HOUSE SENATE OF REPRESENTATIVESTHE UNITED STATES February 27April 6 (legislative day, April 4), 2017 Mr. McHenry (for himself Received; read twice and Ms. Velazquez) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL 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.Banking, Housing, and Urban Affairs
Be it enacted by AN ACTTo amend the Senate and House of Representatives Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the United States definition of America in Congress assembled,an investment company.
This Act may be cited as the ``Supporting America's “Supporting America’s Innovators Act of 2017''2017”.
Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-380a–3(c)(1)) is amended-- (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 (2) by adding at the end the following: ``(C)(i) The term `qualifying venture capital fund' means a venture capital fund that has not more than $10,000,000 in aggregate capital contributions and uncalled committed capital, with such dollar amount to be indexed for inflation once every 5 years by the Commission, beginning from a measurement made by the Commission on a date selected by the Commission, rounded to the nearest $1,000,000. ``(ii) The term `venture capital fund' has the meaning given the term in section 275.203(l)-1 of title 17, Code of Federal Regulations, or any successor regulation.''. ==2016 Bill Text==[Congressional Bills 114th Congress][From the U.S. Government Publishing Office][H.R. 4854 Received in Senate (RDS)] 114th CONGRESS 2d Session H. R. 4854 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 6, 2016 Received _______________________________________________________________________ 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. 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.amended—
Section 3(c)(1) of in the Investment Company Act of 1940 matter preceding subparagraph (15 U.S.C. 80a-3(c)(1)) is amended-- (1A) , by inserting after ``one hundred persons'' the following: ``“(or, with respect to in the case of a qualifying venture capital fund, 250 persons)''” after “one hundred persons”; and (2) by adding at the end the following: ``(C) The term `qualifying venture capital fund' means any 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 more than $10,000,000 in invested capital, as such dollar amount is annually adjusted by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor.''.
Passed (2) by adding at the House of Representatives July 5, 2016.end the following:
Attest:“(C)(i) The term ‘qualifying venture capital fund’ means a venture capital fund that has not more than $10,000,000 in aggregate capital contributions and uncalled committed capital, with such dollar amount to be indexed for inflation once every 5 years by the Commission, beginning from a measurement made by the Commission on a date selected by the Commission, rounded to the nearest $1,000,000.
KAREN L“(ii) The term ‘venture capital fund’ has the meaning given the term in section 275. HAAS203(l)–1 of title 17,Code of Federal Regulations, or any successor regulation.”.
ClerkPassed the House of Representatives April 6, 2017.
115-HR1219 Supporting America's Innovators Act (view source)
Revision as of 15:04, 18 April 2017
, 15:04, 18 April 2017no edit summary
{{Legislation
|Has title=115-HR1219 Supporting America's Innovators Act|Proposed in=115|Sponsored by=Rep. McHenry, Patrick T. (R-NC-10)|Reviewing committee=|Has related bills=House - Financial Services|Has bill status=Proposed|Has keywords=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.
==2017 Bill Text==
115th CONGRESS
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. INVESTOR LIMITATION FOR QUALIFYING VENTURE CAPITAL FUNDS.
Attest: karen l. haas,
Clerk
==ReferencesResources==[https://www.congress.gov/bill/115th-congress/house-bill/1219/text?format=txtLink to 115th Congress bill page][https://www.congress.gov/bill/114th-congress/house-bill/4854Link to 114th Congress bill page]
[[Category: Legislation]] [[Category: McCarthy]]
