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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Developing and Empowering our Aspiring Leaders Act of 2020

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To require the Securities and Exchange Commission to revise the definition of a qualifying investment to include an equity security issued by a qualifying portfolio company, whether acquired directly from the company or in a secondary acquisition, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, and for other purposes.

Actions Overview (1)

Date Actions Overview
10/16/2020Introduced in House

All Actions (2)

Date All Actions
10/16/2020Referred to the House Committee on Financial Services.
Action By: House of Representatives
10/16/2020Introduced in House
Action By: House of Representatives

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. McAdams, Ben [D-UT-4]* 10/16/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services10/16/2020 Referred to

As of 11/30/2020 no related bill information has been received for H.R.8603 - Developing and Empowering our Aspiring Leaders Act of 2020

Subjects (5)

Latest Summary (1)

There is one summary for H.R.8603. View summaries

Shown Here:
Introduced in House (10/16/2020)

Developing and Empowering our Aspiring Leaders Act of 2020

This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations. Specifically, the bill allows investments acquired through secondary transactions to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the investments predominately must be acquired directly. Under current law, non-qualifying investments—which include secondary transactions—may comprise up to 20% of a venture capital fund.