118 HR 2796 RH: Promoting Opportunities for Non-Traditional Capital Formation Act U.S. House of Representatives 2023-05-30 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.

IBUnion Calendar No. 57118th CONGRESS1st SessionH. R. 2796[Report No. 118–78]IN THE HOUSE OF REPRESENTATIVESApril 24, 2023Ms. Waters introduced the following bill; which was referred to the Committee on Financial ServicesMay 30, 2023Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on April 24, 2023A BILLTo amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

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Short title

This Act may be cited as the Promoting Opportunities for Non-Traditional Capital Formation Act.

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Promoting capital raising options for traditionally underrepresented small businesses

Section 4(j)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78d(j)(4)) is amended—(1)in subparagraph (G), by striking and at the end;(2)in subparagraph (H), by striking the period at the end and inserting a semicolon; and(3)by adding at the end the following:(I)provide educational resources and host events to raise awareness of capital raising options for—(i)underrepresented small businesses, including women-owned and minority-owned small businesses; (ii)businesses located in rural areas; and(iii)small businesses affected by hurricanes or other natural disasters; and(J)at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors..

May 30, 2023Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed