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115-HR1219 Supporting America's Innovators Act (view source)
Revision as of 16:04, 29 March 2017
, 16:04, 29 March 2017Created page with "{{McCarthysInnovationInitiative |Name of Bill=H.R.4854 Supporting America's Innovators Act |Year=2016 |Sponsor=Rep. McHenry, Patrick T. (R-NC-10) |Cosponsor=Rep. Schweikert, D..."
{{McCarthysInnovationInitiative
|Name of Bill=H.R.4854 Supporting America's Innovators Act
|Year=2016
|Sponsor=Rep. McHenry, Patrick T. (R-NC-10)
|Cosponsor=Rep. Schweikert, David (R-AZ-6)
|Status of Bill=Passed House,
|Related Bills=Financial CHOICE Act of 2016, Creating Financial Prosperity for Businesses and Investors Act,
}}
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
==Bill Text==
[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4854 Received in Senate (RDS)]
114th CONGRESS
2d Session
H. R. 4854
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 6, 2016
Received
_______________________________________________________________________
AN ACT
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Supporting America's Innovators Act
of 2016''.
SEC. 2. INVESTOR LIMITATION FOR QUALIFYING VENTURE CAPITAL FUNDS.
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,
Clerk.
==References==
https://www.congress.gov/bill/114th-congress/house-bill/4854
|Name of Bill=H.R.4854 Supporting America's Innovators Act
|Year=2016
|Sponsor=Rep. McHenry, Patrick T. (R-NC-10)
|Cosponsor=Rep. Schweikert, David (R-AZ-6)
|Status of Bill=Passed House,
|Related Bills=Financial CHOICE Act of 2016, Creating Financial Prosperity for Businesses and Investors Act,
}}
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
==Bill Text==
[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4854 Received in Senate (RDS)]
114th CONGRESS
2d Session
H. R. 4854
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 6, 2016
Received
_______________________________________________________________________
AN ACT
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Supporting America's Innovators Act
of 2016''.
SEC. 2. INVESTOR LIMITATION FOR QUALIFYING VENTURE CAPITAL FUNDS.
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,
Clerk.
==References==
https://www.congress.gov/bill/114th-congress/house-bill/4854
