Democratizing Access to Capital Act of 2011

3.0.0 2930 2023-01-11T13:22:13Z 2023-01-11T13:22:13Z House H HR 2011-09-14 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McHENRY:H.R. 2930.Congress has the power to enact this legislation pursuantto the following:Article One, Section Eight.[Page H6182]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2011-12-01T15:56:06Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2011-10-05T13:21:51Z Markup by 2011-10-05T13:21:27Z Referred to 2011-10-04T16:49:24Z Hearings by 2011-09-21T13:14:42Z Reported by 2011-10-31T17:18:11Z Markup by 2011-10-26T13:18:20Z Referred to 2011-09-14T14:03:40Z H. Rept. 112-262 Democratizing Access to Capital Act of 2011 112 1791 S 2011-12-01 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-444. Related bill CRS Providing for consideration of the bill (H.R. 2930) to amend the securities laws to provide for registration exemptions for certain crowdfunded securities, and for other purposes, and providing for consideration of the bill (H.R. 2940) to direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D. 112 453 HRES 2011-11-03 Motion to reconsider laid on the table Agreed to without objection. 14:42:59 Related bill House Procedurally-related House 2011-12-01 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-444. Committee 2011-11-08 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 224. Calendars 2011-11-07 Senate Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. Calendars 2011-11-03 18:17:12 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2011-11-03 18:17:11 On passage Passed by recorded vote: 407 - 17 (Roll no. 825). Floor H37100 2 House floor actions 825 https://clerk.house.gov/evs/2011/roll825.xml House 112 2011-11-03T22:17:11Z 1 2011-11-03 18:17:11 Passed/agreed to in House: On passage Passed by recorded vote: 407 - 17 (Roll no. 825). Floor 8000 9 Library of Congress 825 https://clerk.house.gov/evs/2011/roll825.xml House 112 2011-11-03T22:17:11Z 1 2011-11-03 18:10:37 On motion to recommit with instructions Failed by recorded vote: 187 - 237 (Roll no. 824). (consideration: CR H7310-7311) Floor H36110 2 House floor actions hsba00 Financial Services Committee 824 https://clerk.house.gov/evs/2011/roll824.xml House 112 2011-11-03T22:10:37Z 1 2011-11-03 17:53:49 The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7310-7311) Floor H8A000 2 House floor actions 2011-11-03 17:45:26 DEBATE - The House proceeded with 10 minutes of debate on the Holt motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add language that prohibits an intermediary from participating in a crowdfunding transaction if they are doing business with the Iranian government. Floor H8D000 2 House floor actions 2011-11-03 17:44:51 Mr. Holt moved to recommit with instructions to Financial Services. (consideration: CR H7309; text: CR H7309) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2011-11-03 17:43:34 The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H7300-7301) Floor H34400 2 House floor actions 2011-11-03 17:43:23 The previous question was ordered pursuant to the rule. (consideration: CR H7309) Floor H35000 2 House floor actions 2011-11-03 17:42:51 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2930. Floor H32600 2 House floor actions 2011-11-03 17:18:04 UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed. Floor H8D000 2 House floor actions 2011-11-03 17:17:48 The Committee resumed its sitting. Floor H8D000 2 House floor actions 2011-11-03 17:16:47 The Committee rose informally to receive a message. Floor H8D000 2 House floor actions 2011-11-03 17:05:40 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Perlmutter amendment. Floor H8D000 2 House floor actions 2011-11-03 16:53:21 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Barrow amendment. Floor H8D000 2 House floor actions 2011-11-03 16:53:07 POSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced. Floor H8D000 2 House floor actions 2011-11-03 16:42:41 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez amendment. Floor H8D000 2 House floor actions 2011-11-03 16:37:28 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Quayle amendment. Floor H8D000 2 House floor actions 2011-11-03 16:34:19 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Fincher amendment. Floor H8D000 2 House floor actions 2011-11-03 16:32:23 DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the McHenry amendment. Floor H8D000 2 House floor actions 2011-11-03 15:45:23 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2930. Floor H8D000 2 House floor actions 2011-11-03 15:44:10 The Speaker designated the Honorable Charles F. Bass to act as Chairman of the Committee. Floor H32400 2 House floor actions 2011-11-03 15:44:09 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 453 and Rule XVIII. Floor H32020 2 House floor actions 2011-11-03 15:43:57 Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order. Floor H8D000 2 House floor actions 2011-11-03 15:43:52 Considered under the provisions of rule H. Res. 453. (consideration: CR H7295-7308, H7308-7311) Floor H30000 2 House floor actions 2011-11-02 16:00:39 Rules Committee Resolution H. Res. 453 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order. Floor H1L210 2 House floor actions 2011-10-31 Placed on the Union Calendar, Calendar No. 175. Calendars H12410 2 House floor actions U00175 2011-10-31 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-262. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2011-10-31 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-262. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2011-10-26 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2011-10-26 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-10-05 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 18 - 14 . Committee 2011-10-05 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-10-04 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-09-21 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2011-09-14 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-09-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-09-14 Introduced in House IntroReferral 1000 9 Library of Congress M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 N S001183 Rep. Schweikert, David [R-AZ-5] David Schweikert R AZ 5 2011-10-04 False D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2011-10-11 False D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2011-10-11 False S001164 Rep. Schmidt, Jean [R-OH-2] Jean Schmidt R OH 2 2011-10-25 False B000755 Rep. Brady, Kevin [R-TX-8] KEVIN BRADY R TX 8 2011-10-25 False Finance and Financial Sector Administrative law and regulatory procedures Federal preemption Financial services and investments Licensing and registrations Securities Securities and Exchange Commission (SEC) Small business Finance and Financial Sector

00 2011-09-14 Introduced in House 2012-01-11T22:23:31Z Entrepreneur Access to Capital Act - Amends the Securities Act of 1933 to exempt from the prohibitions against use of interstate commerce and the mails for sale or delivery after sale of unregistered securities, including unregistered security-based swaps, any transactions involving the issuance of (crowdfunded) securities for which: (1) the aggregate annual amount raised through such issue is $5 million or less; and (2) individual investments in the securities are limited to an aggregate annual amount equal to the lesser of $10,000, and 10% of the investor's annual income.

(Crowdfunding is a method of capital formation where groups of people pool money, typically composed of very small individual contributions, and often via internet platforms, to invest in a company or otherwise support an effort by others to accomplish a specific goal.)

Authorizes an issuer to rely upon certifications provided by investors to verify an investor's income.

Amends the Securities Exchange Act of 1934 to exclude persons holding crowdfunded securities under this Act from application of the 500-to-750 shareholder "held of record" criterion for a class of equity security subject to mandatory registration.

Amends the Securities Act of 1933 to exempt such crowdfunded securities from state regulation of securities offerings.

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17 2011-10-31 Reported to House with amendment(s) 2012-01-11T22:34:21Z Entrepreneur Access to Capital Act - (Sec. 2) Amends the Securities Act of 1933 to exempt from its registration requirements and prohibitions any transactions involving the issuance of (crowdfunded) securities for which: (1) the aggregate annual amount raised through such issue is $1 million or less, or if the issuer provides potential investors with audited financial statements, $2 million or less; and (2) individual investments in the securities are limited to an aggregate annual amount equal to the lesser of $10,000, and 10% of the investor's annual income.

Requires an intermediary between the issuer and the investor, if there is one, and an issuer, if there is no intermediary, to meet specified requirements.

Requires both intermediaries and issuers (if there is no intermediary) with respect to such exempted transactions to: (1) warn investors of the speculative nature generally applicable to investments in startups, emerging businesses, and small issuers; (2) warn investors that there are restrictions on the re-sale of the securities; (3) take reasonable measures to reduce the risk of fraud with respect to the transaction; (4) provide the Securities and Exchange Commission (SEC) with information about the intermediary or about the issuer and the offering, as the case may be; (5) provide the SEC with continuous investor-level access to the intermediary's or the issuer's website; (6) require each investor to answer questions demonstrating a recognition of the nature of the securities offered, including the risk of illiquidity; (7) outsource cash-management functions to a qualified third party custodian; (8) maintain books and records the SEC deems appropriate; (9) allow for communication between the issuer and investors via the intermediary's or the issuer's website; and (10) not offer investment advice.

Requires the issuer (and requires an intermediary to require the issuer) to state a target offering amount and withhold capital formation proceeds until the aggregate capital raised from investors other than the issuer is no less than 60 % of the target offering amount.

Requires an intermediary, in addition, to: (1) carry out background checks on the issuer's principals, and (2) provide the SEC with information about the issuer and the offering.

Requires an issuer to disclose its interest in the issuance to investors.

Authorizes an issuer or intermediary to rely upon certifications provided by investors to verify an investor's income.

Directs the SEC make available to the states information it receives about the intermediary, issuer, and offering.

Restricts investor sales of certain securities during the one-year period beginning on the date of purchase, unless such securities are sold to either the issuer of the securities or to an accredited investor.

Declares that an intermediary shall not be treated as a broker under the securities laws solely by reason of participation in a crowdfunded transaction.

States that this Act does not preclude an issuer from raising capital through other means.

Directs the SEC to establish disqualification provisions under which a person shall not be eligible to utilize a specified exemption under the Securities Act of 1933 or to participate in the affairs of an intermediary facilitating the use of that exemption. Requires such provisions to be substantially similar to rules adopted for disqualifying felons from Regulation D offerings in accordance with specified sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

(Sec. 3) Amends the Securities Exchange Act of 1934 to exclude persons holding crowdfunded securities under this Act from application of the 500-to-750 shareholder "held of record" criterion for a class of equity security subject to mandatory registration.

(Sec. 4) Amends the Securities Act of 1933 to exempt such crowdfunded securities from state regulation of securities offerings.

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36 2011-11-03 Passed House amended 2012-01-11T22:39:52Z Entrepreneur Access to Capital Act - (Sec. 2) Amends the Securities Act of 1933 to exempt from its registration requirements and prohibitions any transactions involving the offer or sale of (crowdfunded) securities by an issuer if the aggregate amount sold within the previous 12-month period in reliance upon the exemption is: (1) $1 million, adjusted for inflation, or less; or (2) $2 million, adjusted for inflation, or less if the issuer provides potential investors with audited financial statements. Requires the aggregate amount sold to any investor in reliance on this exemption within the previous 12-month period, in either case, not to exceed the lesser of $10,000, adjusted for inflation, or 10% of the investor's annual income.

Requires an intermediary between the issuer and the investor, if there is one, and an issuer, if there is no intermediary, to meet specified requirements.

Requires both intermediaries and issuers (if there is no intermediary) with respect to such exempted transactions to: (1) warn investors of the speculative nature generally applicable to investments in startups, emerging businesses, and small issuers; (2) warn investors that there are restrictions on the re-sale of the securities; (3) take reasonable measures to reduce the risk of fraud with respect to the transaction; (4) provide the Securities and Exchange Commission (SEC) with information about the intermediary or about the issuer and the offering, as the case may be; (5) provide the SEC with continuous investor-level access to the intermediary's or the issuer's website; (6) require each investor to answer questions demonstrating a basic understanding of the nature of the securities offered, including the risk of illiquidity; (7) outsource cash-management functions to a qualified third party custodian; (8) maintain books and records the SEC deems appropriate; (9) allow for communication between the issuer and investors via the intermediary's or the issuer's website; (10) not offer investment advice; and (11) notify the SEC upon completion of the offering.

Requires the issuer (and requires an intermediary to require the issuer) to state a target offering amount as well as a deadline to reach it, and ensure that the third party custodian withholds offering proceeds until the aggregate capital raised from investors other than the issuer is no less than 60 % of the target offering amount.

Requires an intermediary, in addition, to: (1) carry out background checks on the issuer's principals, and (2) provide the SEC and potential investors with information about the issuer and the offering.

Requires an issuer to disclose its interest in the issuance to investors.

Authorizes an issuer or intermediary to rely upon certifications as to annual income provided by the person to whom the securities are sold to verify the investor's income.

Directs the SEC to make available to the states information it receives about the intermediary, issuer, and offering.

Declares that an intermediary shall not be treated as a broker under the securities laws solely by reason of participation in a crowdfunded transaction.

States that this Act does not preclude an issuer from raising capital through other means.

Directs the SEC to establish disqualification criteria that render either an issuer or intermediary ineligible to utilize a specified exemption under the Securities Act of 1933 based upon the disciplinary history of the issuer or its predecessors, affiliates, officers, directors, or persons fulfilling similar roles. Requires such criteria to be substantially similar to rules adopted for disqualifying felons from Regulation D offerings in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.

(Sec. 3) Amends the Securities Exchange Act of 1934 to exclude securities held by persons who purchase them in crowdfunded transactions under this Act from application of the 500-to-750 shareholder "held of record" criterion for a class of equity security subject to mandatory registration.

(Sec. 4) Amends the Securities Act of 1933 to exempt such crowdfunded securities from state regulation of securities offerings; but retains state jurisdiction over fraud, deceit, or the unlawful conduct of intermediaries, issuers, and custodians.

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Entrepreneur Access to Capital Act Display Title Entrepreneur Access to Capital Act Official Title as Introduced To amend the securities laws to provide for registration exemptions for certain crowdfunded securities, and for other purposes. Introduced in House IH Short Titles as Passed House Entrepreneur Access to Capital Act H House Short Titles as Introduced Entrepreneur Access to Capital Act Short Titles as Reported to House Entrepreneur Access to Capital Act H House 855 112 HAMDT Amendment ensures that the States' securities regulators have the authority to police fraud, deceit, misrepresentation, and other unlawful behavior in order to protect investors. An amendment numbered 6 printed in Part A of House Report 112-265 to preserve a state's right to enforce securities laws with respect to fraud, deceit or unlawful conduct. 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the Perlmutter amendment (A006) Agreed to by voice vote. 17:16:18 P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 7 2011-11-03 17:16:18 On agreeing to the Perlmutter amendment (A006) Agreed to by voice vote. Floor H32111 2 House floor actions 2011-11-03 17:05:37 Amendment (A006) offered by Mr. Perlmutter. (consideration: CR H7306-7308; text: CR H7306) Floor H3A100 2 House floor actions 2011-11-03 17:16:18 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2011-11-03 17:05:37 House amendment offered/reported by: Amendment (A006) offered by Mr. Perlmutter.(consideration: CR H7306-7308; text: CR H7306) NotUsed 71500 9 Library of Congress 2011-11-03 17:16:18 House amendment agreed to: On agreeing to the Perlmutter amendment (A006) Agreed to by voice vote. Floor 72000 9 Library of Congress 2011-11-03 House amendment offered Floor 71000 9 Library of Congress 854 112 HAMDT Amendment sought to require the SEC to establish a website that provides the public with safety tips for investing in securities. An amendment numbered 5 printed in Part A of House Report 112-265 to require the Commission to establish a website that provides the public with crowdfunding website safety tips for investing in securities described under section 4(6). 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the Barrow amendment (A005) Failed by voice vote. 17:04:51 B001252 Rep. Barrow, John [D-GA-12] John Barrow D GA 12 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 7 2011-11-03 17:04:51 On agreeing to the Barrow amendment (A005) Failed by voice vote. Floor H32111 2 House floor actions 2011-11-03 16:53:19 Amendment (A005) offered by Mr. Barrow. (consideration: CR H7304-7306; text: CR H7304-7305) Floor H3A100 2 House floor actions 2011-11-03 16:53:19 House amendment offered/reported by: Amendment (A005) offered by Mr. Barrow.(consideration: CR H7304-7306; text: CR H7304-7305) NotUsed 71500 9 Library of Congress 2011-11-03 17:04:51 House amendment not agreed to: On agreeing to the Barrow amendment (A005) Failed by voice vote. Floor 73000 9 Library of Congress 2011-11-03 17:04:51 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 2011-11-03 House amendment offered Floor 71000 9 Library of Congress 853 112 HAMDT Amendment sought to require crowdfunding intermediaries to disclose how they are compensated. An amendment numbered 4 printed in Part A of House Report 112-265 to require crowdfunding intermediaries to disclose their method of compensation to potential investors. 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the Velazquez amendment (A004) Failed by recorded vote: 189 - 234 (Roll no. 823). 17:42:34 Roll no. 823 https://clerk.house.gov/evs/2011/roll823.xml V000081 Rep. Velazquez, Nydia M. [D-NY-12] NYDIA VELAZQUEZ D NY M. 12 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 8 2011-11-03 17:42:34 On agreeing to the Velazquez amendment (A004) Failed by recorded vote: 189 - 234 (Roll no. 823). Floor H32111 2 House floor actions 823 House 112 2011-11-03T21:42:34Z 1 https://clerk.house.gov/evs/2011/roll823.xml 2011-11-03 16:42:39 Amendment (A004) offered by Ms. Velazquez. (consideration: CR H7303-7304, H7308-7309; text: CR H7303) Floor H3A100 2 House floor actions 2011-11-03 17:42:34 Roll call votes on amendments in House Floor 75000 9 Library of Congress 823 House 112 2011-11-03T21:42:34Z 1 https://clerk.house.gov/evs/2011/roll823.xml 2011-11-03 17:42:34 Amendment failed in Committee of the Whole NotUsed 77000 9 Library of Congress 823 House 112 2011-11-03T21:42:34Z 1 https://clerk.house.gov/evs/2011/roll823.xml 2011-11-03 16:42:39 House amendment offered/reported by: Amendment (A004) offered by Ms. Velazquez.(consideration: CR H7303-7304, H7308-7309; text: CR H7303) NotUsed 71500 9 Library of Congress 2011-11-03 17:42:34 House amendment not agreed to: On agreeing to the Velazquez amendment (A004) Failed by recorded vote: 189 - 234 (Roll no. 823). Floor 73000 9 Library of Congress 823 House 112 2011-11-03T21:42:34Z 1 https://clerk.house.gov/evs/2011/roll823.xml 2011-11-03 House amendment offered Floor 71000 9 Library of Congress 852 112 HAMDT Amendment adjusts for inflation the annual cap of the individual investments in the securities. An amendment numbered 3 printed in Part A of House Report 112-265 to index the $10,000 individual investment cap to inflation. 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the Quayle amendment (A003) Agreed to by voice vote. 16:42:07 Q000024 Rep. Quayle, Benjamin [R-AZ-3] Benjamin Quayle R AZ 3 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 7 2011-11-03 16:42:07 On agreeing to the Quayle amendment (A003) Agreed to by voice vote. Floor H32111 2 House floor actions 2011-11-03 16:37:26 Amendment (A003) offered by Mr. Quayle. (consideration: CR H7303; text: CR H7303) Floor H3A100 2 House floor actions 2011-11-03 16:37:26 House amendment offered/reported by: Amendment (A003) offered by Mr. Quayle.(consideration: CR H7303; text: CR H7303) NotUsed 71500 9 Library of Congress 2011-11-03 16:42:07 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2011-11-03 16:42:07 House amendment agreed to: On agreeing to the Quayle amendment (A003) Agreed to by voice vote. Floor 72000 9 Library of Congress 2011-11-03 House amendment offered Floor 71000 9 Library of Congress 851 112 HAMDT Amendment adjusts for inflation the $1 million and $2 million caps on the aggregate annual amount raised through the issuance of securities. An amendment numbered 2 printed in Part A of House Report 112-265 to index to inflation the $1 million and $2 million aggregate annual amounts raised through the issue of the securities as authorized in the bill. The index for inflation would be measured by the annual change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics. 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the Fincher amendment (A002) Agreed to by voice vote. 16:36:59 F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 7 2011-11-03 16:36:59 On agreeing to the Fincher amendment (A002) Agreed to by voice vote. Floor H32111 2 House floor actions 2011-11-03 16:34:14 Amendment (A002) offered by Mr. Fincher. (consideration: CR H7302-7303; text: CR H7302) Floor H3A100 2 House floor actions 2011-11-03 16:36:59 House amendment agreed to: On agreeing to the Fincher amendment (A002) Agreed to by voice vote. Floor 72000 9 Library of Congress 2011-11-03 16:34:14 House amendment offered/reported by: Amendment (A002) offered by Mr. Fincher.(consideration: CR H7302-7303; text: CR H7302) NotUsed 71500 9 Library of Congress 2011-11-03 16:36:59 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2011-11-03 House amendment offered Floor 71000 9 Library of Congress 850 112 HAMDT Manager's amendment makes sundry technical and conforming changes. An amendment numbered 1 printed in Part A of House Report 112-265 to make technical corrections. It also requires the issuer to state a target offering amount and a deadline to reach the target offering amount. It requires that the Securities and Exchange Commission is provided a notice upon completion of the offering, which shall include the aggregate offering amount and the number of purchasers. Clarifies the disqualification provision to ensure that both issuers and intermediaries, as well as their predecessors, affiliates, officers, directors, or persons fulfilling similar roles, are disqualified from the exemption established in this bill should they have a history of committing securities fraud. 2022-02-03T06:01:51Z 2011-11-03 On agreeing to the McHenry amendment (A001) Agreed to by voice vote. 16:33:55 M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2011-11-03T04:00:00Z House of Representatives 112 HR House H 2930 Entrepreneur Access to Capital Act 2023-01-11T13:22:13Z House Report 112-265 https://www.congress.gov/congressional-report/112th-congress/house-report/265 7 2011-11-03 16:33:55 On agreeing to the McHenry amendment (A001) Agreed to by voice vote. Floor H32111 2 House floor actions 2011-11-03 16:32:10 Amendment (A001) offered by Mr. McHenry. (consideration: CR H7301-7302; text: CR H7301-7302) Floor H3A100 2 House floor actions 2011-11-03 16:32:10 House amendment offered/reported by: Amendment (A001) offered by Mr. McHenry.(consideration: CR H7301-7302; text: CR H7301-7302) NotUsed 71500 9 Library of Congress 2011-11-03 16:33:55 House amendment agreed to: On agreeing to the McHenry amendment (A001) Agreed to by voice vote. Floor 72000 9 Library of Congress 2011-11-03 16:33:55 Amendment agreed to Committee of the Whole NotUsed 76000 9 Library of Congress 2011-11-03 House amendment offered Floor 71000 9 Library of Congress Placed on Calendar Senate 2011-11-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2930pcs/xml/BILLS-112hr2930pcs.xml Engrossed in House 2011-11-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2930eh/xml/BILLS-112hr2930eh.xml Reported in House 2011-10-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2930rh/xml/BILLS-112hr2930rh.xml Introduced in House 2011-09-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr2930ih/xml/BILLS-112hr2930ih.xml 2011-12-01 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-444. 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. 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