Bill journey · stage 2 of 5
Under committee review
What it doesSummary passed house amended (Jul 5, 2016)
Supporting America's Innovators Act of 2016
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
What just happenedJul 6, 2016
Received in the Senate.
Who’s behind it
Received in the Senate.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 388 - 9 (Roll no. 349). (text: CR H4235)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 388 - 9 (Roll no. 349).(text: CR H4235)
Considered as unfinished business. (consideration: CR H4244)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on H.R. 4854.
Considered under suspension of the rules. (consideration: CR H4235-4236)
Mr. Garrett moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 511.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-660.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-660.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 2.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Supporting America's Innovators Act of 2016
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
Supporting America's Innovators Act of 2016
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 500 persons.
The bill defines qualifying venture capital fund as one that does not purchase more than $10 million (annually adjusted for inflation) in securities of any one issuer.