Small Company Capital Formation Act of 2011

3.0.0 1070 2023-01-11T13:20:21Z 2023-01-11T13:20:21Z House H HR 2011-03-14 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SCHWEIKERT:H.R. 1070.Congress has the power to enact this legislation pursuantto the following:Article One, Section Eight.[Page H1797]]]> hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2011-05-04T18:15:00Z Markup by 2011-05-04T18:14:39Z Referred to 2011-04-04T20:50:44Z Hearings by 2011-03-16T16:53:55Z Reported by 2011-09-14T19:49:18Z Markup by 2011-06-22T16:07:50Z Referred to 2011-03-14T16:01:50Z H. Rept. 112-206 Small Company Capital Formation Act of 2011 112 1544 S 2012-03-06 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-482. Related bill CRS 2011-11-07 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 222. Calendars 2011-11-03 Senate Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. Calendars 2011-11-02 14:34:14 The title of the measure was amended. Agreed to without objection. Floor H38800 2 House floor actions 2011-11-02 14:34:11 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2011-11-02 14:34:09 On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 421 - 1 (Roll no. 820). (text: CR H7229-7230) Floor H37300 2 House floor actions 820 https://clerk.house.gov/evs/2011/roll820.xml House 112 2011-11-02T18:34:09Z 1 2011-11-02 14:34:09 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 421 - 1 (Roll no. 820).(text: CR H7229-7230) Floor 8000 9 Library of Congress 820 https://clerk.house.gov/evs/2011/roll820.xml House 112 2011-11-02T18:34:09Z 1 2011-11-02 14:27:27 Considered as unfinished business. (consideration: CR H7236) Floor H30000 2 House floor actions 2011-11-02 13:38:42 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2011-11-02 13:19:45 DEBATE - The House proceeded with forty minutes of debate on H.R. 1070. Floor H8D000 2 House floor actions 2011-11-02 13:19:43 Considered under suspension of the rules. (consideration: CR H7229-7232) Floor H30000 2 House floor actions 2011-11-02 13:19:24 Mr. Bachus moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2011-09-14 Placed on the Union Calendar, Calendar No. 135. Calendars H12410 2 House floor actions U00135 2011-09-14 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-206. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2011-09-14 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-206. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2011-06-22 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2011-06-22 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-05-04 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote . Committee 2011-05-04 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-05-03 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-04-04 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-03-16 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2011-03-14 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-03-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-03-14 Introduced in House IntroReferral 1000 9 Library of Congress S001183 Rep. Schweikert, David [R-AZ-5] David Schweikert R AZ 5 N G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2011-03-14 True W000796 Rep. Westmoreland, Lynn A. [R-GA-3] Lynn Westmoreland R GA A. 3 2011-03-14 True J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2011-03-14 True B001232 Rep. Biggert, Judy [R-IL-13] JUDY BIGGERT R IL 13 2011-03-14 True C001082 Rep. Canseco, Francisco "Quico" [R-TX-23] Francisco Canseco R TX Quico 23 2011-03-15 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-03-15 False D000533 Rep. Duncan, John J., Jr. [R-TN-2] JOHN DUNCAN R TN J. 2 2011-03-17 False E000215 Rep. Eshoo, Anna G. [D-CA-14] ANNA ESHOO D CA G. 14 2011-03-29 False B001256 Rep. Bachmann, Michele [R-MN-6] Michele Bachmann R MN 6 2011-03-29 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2011-03-30 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2011-05-02 False N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2011-05-02 False W000811 Rep. Walsh, Joe [R-IL-8] Joe Walsh R IL 8 2011-05-05 False P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2011-05-11 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2011-05-12 False Q000024 Rep. Quayle, Benjamin [R-AZ-3] Benjamin Quayle R AZ 3 2011-05-26 False C001048 Rep. Culberson, John Abney [R-TX-7] JOHN CULBERSON R TX ABNEY 7 2011-05-26 False P000591 Rep. Price, Tom [R-GA-6] Tom Price R GA 6 2011-07-06 False R000582 Rep. Roe, David P. [R-TN-1] David Roe R TN P. 1 2011-07-06 False H001054 Rep. Hayworth, Nan A. S. [R-NY-19] Nan Hayworth R NY A. S. 19 2011-07-20 False Finance and Financial Sector Administrative law and regulatory procedures Business investment and capital Business records Securities Securities and Exchange Commission (SEC) Small business Finance and Financial Sector

00 2011-03-14 Introduced in House 2011-05-10T18:50:51Z Small Company Capital Formation Act of 2011 - Amends the Securities Act of 1933 to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount is between $5 million and $50 million, subject to specified terms and conditions.

Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, its financial condition, and its use of investor funds; and (2) provide for the suspension and termination of such a requirement with respect to that issuer.

Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees on its reasons for not increasing the amount if it determines not to do so.

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17 2011-09-14 Reported to House with amendment(s) 2012-01-03T20:25:07Z Small Company Capital Formation Act of 2011 - (Sec. 2) Amends the Securities Act of 1933 (Act) to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities sold within the prior 12-month period in reliance upon such exemption does not exceed $50 million. Restricts any such exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities.

Subjects to civil liability certain violations arising from offering or selling securities by use of prospectuses and communications.

Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, financial condition, corporate governance principles, and use of investor funds; (2) require the issuer to file electronically with the SEC and distribute to prospective investors an offering statement which includes this information; (3) provide for the suspension and termination of this disclosure requirement with respect to that issuer; and (4) prescribe exemption disqualification requirements, substantially similar to regulations adopted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, based on the disciplinary history of the issuer and related persons, including predecessors, affiliates, officers, directors, and underwriters.

Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees its reasons for not increasing the amount if it determines not to do so.

Exempts from state regulation the securities covered and required exempted from SEC regulation by this Act.

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36 2011-11-02 Passed House amended 2012-01-03T20:22:49Z Small Company Capital Formation Act of 2011 - (Sec. 2) Amends the Securities Act of 1933 (Act) to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities sold within the prior 12-month period in reliance upon such exemption does not exceed $50 million. Restricts any such exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities.

Subjects to civil liability certain violations arising from offering or selling securities by use of prospectuses and communications.

Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, financial condition, corporate governance principles, and use of investor funds; (2) require the issuer to file electronically with the SEC and distribute to prospective investors an offering statement which includes this information; (3) provide for the suspension and termination of this disclosure requirement with respect to that issuer; and (4) prescribe exemption disqualification requirements, substantially similar to regulations adopted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which the exemption shall not be available to the issuer and related persons, including predecessors, affiliates, officers, directors, and underwriters.

Exempts from state regulation the securities covered and required exempted from SEC regulation by this Act.

(Sec. 3) Directs the Comptroller General to study the impact of state laws regulating securities offerings (Blue Sky laws) on offerings made under Regulation A (which specifies the terms and conditions of exemption from the registration requirements of the Securities Act of 1933).

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Small Company Capital Formation Act of 2011 Display Title Small Company Capital Formation Act of 2011 Official Title as Introduced To amend the Securities Act of 1933 to authorize the Securities and Exchange Commission to exempt a certain class of securities from such Act. Introduced in House IH Short Titles as Introduced Small Company Capital Formation Act of 2011 Short Titles as Reported to House Small Company Capital Formation Act of 2011 H House Short Titles as Passed House Small Company Capital Formation Act of 2011 H House Official Titles as Amended by House To amend the Securities Act of 1933 to require the Securities and Exchange Commission to exempt a certain class of securities from such Act. H House Placed on Calendar Senate 2011-11-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1070pcs/xml/BILLS-112hr1070pcs.xml Engrossed in House 2011-11-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1070eh/xml/BILLS-112hr1070eh.xml Reported in House 2011-09-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1070rh/xml/BILLS-112hr1070rh.xml Introduced in House 2011-03-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1070ih/xml/BILLS-112hr1070ih.xml 2011-11-07 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 222. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.