Bill summaries are authored by CRS.

Shown Here:
Passed House amended (07/05/2016)

Supporting America's Innovators Act of 2016

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.