Bill summaries are authored by CRS.

Shown Here:
Reported to House without amendment (11/01/2017)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Micro Offering Safe Harbor Act

(Sec. 2) This bill amends the Securities Act of 1933 to exempt certain micro-offerings from: (1) state regulation of securities offerings, and (2) federal prohibitions related to interstate solicitation.

The exempted micro-offerings must meet all of the following requirements:

  • the purchaser has a substantive pre-existing relationship with the issuer,
  • during the 12-month period preceding the transaction there are no more than 35 purchasers relying on the exemption, and
  • the amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.