S. 3976IntroducedFINANCE AND FINANCIAL SECTOR
Expanding American Entrepreneurship Act
Banking and financial institutions regulation · Business investment and capital · Business records
Key facts
Introduced: Mar 31, 2022
Chamber: Senate
Cosponsors: 1
Congress: 117th
Latest action · Apr 5, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
Summary
Expanding American Entrepreneurship Act
This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 500 persons and $50 million, respectively.
Summary by Congressional Research Service.
Timeline
- Apr 5, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
- Mar 31, 2022Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Mar 31, 2022Introduced in Senate
Cosponsors
In the News
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