H.R.4854 - Supporting America's Innovators Act of 2016114th Congress (2015-2016)
|Sponsor:||Rep. McHenry, Patrick T. [R-NC-10] (Introduced 03/23/2016)|
|Committees:||House - Financial Services|
|Committee Reports:||H. Rept. 114-660|
|Latest Action:||Senate - 07/06/2016 Received in the Senate. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Text: H.R.4854 — 114th Congress (2015-2016)All Information (Except Text)
Text available as:
Received in Senate (07/06/2016)
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 2016”.
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.”.
Passed the House of Representatives July 5, 2016.
|Attest:||karen l. haas,|