3.0.0 4850 2023-01-11T13:31:50Z 2023-01-11T13:31:50Z House HR 2016-03-23 114 [Congressional Record Volume 162, Number 46 (Wednesday, March 23, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. EMMER of Minnesota:H.R. 4850.Congress has the power to enact this legislation pursuantto the following:Congress is empowered to regulate interstate commerce underArticle I, Section 8 of the Constitution.[Page H1584]]]> hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Hearings by 2016-04-14T18:50:13Z Reported by 2016-09-06T22:00:15Z Markup by 2016-06-16T19:03:17Z Referred to 2016-03-23T13:03:30Z H. Rept. 114-723 Accelerating Access to Capital Act of 2016 114 2357 HR 2016-09-12 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS 2016-09-06 Placed on the Union Calendar, Calendar No. 561. Calendars H12410 2 House floor actions U00561 2016-09-06 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-723. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2016-09-06 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-723. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2016-06-16 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 25. Committee 2016-06-16 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2016-06-15 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2016-04-14 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2016-03-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2016-03-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-03-23 Introduced in House IntroReferral 1000 9 Library of Congress E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 N M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2016-03-23 True B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2016-03-23 True R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2016-03-23 True C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2016-03-23 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2016-03-23 True B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2016-03-23 True W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2016-03-23 True 2016-09-02T17:47:00Z H.R. 4850, Micro Offering Safe Harbor Act https://www.cbo.gov/publication/51956 As ordered reported by the House Committee on Financial Services on June 16, 2016 Finance and Financial Sector Securities State and local government operations Finance and Financial Sector 00 2016-03-23 Introduced in House 2016-04-06T16:18:02Z Micro Offering Safe Harbor Act

This bill amends the Securities Act of 1933 to exempt from specified prohibitions against the sale or delivery after sale of unregistered securities, among other things, transactions involving the sale of securities by an issuer of micro-offerings that meet one or more of the following criteria:

  • each purchaser has a substantive pre-existing relationship with either an officer or director of the issuer, or with a shareholder holding 10% or more of the issuer's shares;
  • during the 12-month period preceding the transaction there are no more than 35 purchasers of such micro-offerings sold in reliance on this exemption; and
  • the aggregate amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.

The bill also exempts such micro-offerings from state regulation of securities offerings.

]]> 17 2016-09-06 Reported to House with amendment(s) 2017-02-09T22:57:24Z Micro Offering Safe Harbor Act

This bill amends the Securities Act of 1933 to exempt from specified prohibitions against the sale or delivery after sale of unregistered securities, among other things, transactions involving the sale of securities by an issuer of micro-offerings that meet all of the following criteria:

  • each purchaser has a substantive pre-existing relationship with either an officer or director of the issuer, or with a shareholder holding 10% or more of the issuer's shares;
  • during the 12-month period preceding the transaction there are no more than 35 purchasers of such micro-offerings sold in reliance on this exemption; and
  • the aggregate amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.

The exemption provided under this bill is not available for a transaction involving a sale of securities if any of specified persons connected with their issuance would have triggered disqualification as a "bad actor" pursuant to regulations under the Act.

The bill also exempts such micro-offerings from state regulation of securities offerings.

]]> Micro Offering Safe Harbor Act Display Title Micro Offering Safe Harbor Act Official Title as Introduced To amend the Securities Act of 1933 to exempt certain micro-offerings from the registration requirements of such Act, and for other purposes. Introduced in House IH Short Titles as Introduced Micro Offering Safe Harbor Act Short Titles as Reported to House Micro Offering Safe Harbor Act H House Reported in House 2016-09-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4850rh/xml/BILLS-114hr4850rh.xml Introduced in House 2016-03-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4850ih/xml/BILLS-114hr4850ih.xml 2016-09-06 Placed on the Union Calendar, Calendar No. 561. 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.