[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3976 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 3976

 To amend the Investment Company Act of 1940 to address entities that 
are not considered to be investment companies for the purposes of that 
                      Act, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 31, 2022

Mr. Moran (for himself and Mr. Scott of South Carolina) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Investment Company Act of 1940 to address entities that 
are not considered to be investment companies for the purposes of that 
                      Act, and for other purposes.

    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 ``Expanding American Entrepreneurship 
Act''.

SEC. 2. INVESTMENT COMPANIES.

    Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 
80a-3(c)(1)) is amended--
            (1) in the matter preceding subparagraph (A), in the first 
        sentence, by striking ``250 persons'' and inserting ``500 
        persons''; and
            (2) in subparagraph (C)(i), by striking ``$10,000,000'' and 
        inserting ``$50,000,000''.
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