H.R.1105 - Small Business Capital Access and Job Preservation Act113th Congress (2013-2014)
|Sponsor:||Rep. Hurt, Robert [R-VA-5] (Introduced 03/13/2013)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 113-276|
|Latest Action:||12/09/2013 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There have been 3 roll call votes|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Text: H.R.1105 — 113th Congress (2013-2014)All Information (Except Text)
Referred in Senate (12/09/2013)
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes.
This Act may be cited as the “Small Business Capital Access and Job Preservation Act”.
Section 203 of the Investment Advisers Act of 1940 (15 U.S.C. 80b–3) is amended by adding at the end the following:
“(1) IN GENERAL.—Except as provided in this subsection, no investment adviser shall be subject to the registration or reporting requirements of this title with respect to the provision of investment advice relating to a private equity fund or funds, provided that each such fund has not borrowed and does not have outstanding a principal amount in excess of twice its invested capital commitments.
“(A) to require investment advisers described in paragraph (1) to maintain such records and provide to the Commission such annual or other reports as the Commission taking into account fund size, governance, investment strategy, risk, and other factors, as the Commission determines necessary and appropriate in the public interest and for the protection of investors; and
“(B) to define the term ‘private equity fund’ for purposes of this subsection.”.
Passed the House of Representatives December 4, 2013.
|Attest:||karen l. haas,|