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
Summary: H.R.1219 — 115th Congress (2017-2018)All Information (Except Text)
Passed House without amendment (04/06/2017)
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)
Supporting America's Innovators Act of 2017
(Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital.
Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.