114 HR 4854 RH: Supporting America’s Innovators Act of 2016 U.S. House of Representatives 2016-03-23 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.

IB Union Calendar No. 511 114th CONGRESS 2d Session H. R. 4854 [Report No. 114–660] IN THE HOUSE OF REPRESENTATIVES March 23, 2016 Mr. McHenry introduced the following bill; which was referred to the Committee on Financial Services July 5, 2016Additional sponsor: Mr. Schweikert July 5, 2016 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on March 23, 2016 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.

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Short title

This Act may be cited as the Supporting America’s Innovators Act of 2016.

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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: (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..

July 5, 2016 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed