H.R.1219 - Supporting America's Innovators Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. McHenry, Patrick T. [R-NC-10] (Introduced 02/27/2017)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 115-70|
|Latest Action:||Senate - 04/06/2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (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
- Passed Senate
- To President
- Became Law
Text: H.R.1219 — 115th Congress (2017-2018)All Information (Except Text)
Referred in Senate (04/06/2017)
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
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 2017”.
Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–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.”.
Passed the House of Representatives April 6, 2017.
|Attest:||karen l. haas,|