[Congressional Record Volume 169, Number 66 (Thursday, April 20, 2023)]
[House]
[Page H1912]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

           By Mr. TIMMONS:
       H.R. 2790.
       Congress has the power to enact this legislation pursuant 
     to the following:
       The constitutional authority on which this bill rests is 
     the power of Congress to make rules for the regulation of 
     commerce, as enumerated in Article I, Section 8, Clause 3 of 
     the United States Constitution.
       The single subject of this legislation is:
       This bill revises qualification requirements for venture 
     capital funds. Currently, an investment firm qualifies as a 
     venture capital fund if, among other requirements (1) the 
     fund's securities are owned by 250 persons or less, and (2) 
     the fund has $10 million or less in aggregate capital 
     contributions and uncalled committed capital. The bill 
     increases these amounts to 2,000 persons and $150 million, 
     respectively.