Relief for Small Businesses Through Micro-Offerings Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 12, 2020)
Relief for Small Businesses Through Micro-Offerings Act of 2020
This bill temporarily exempts certain securities offerings from the registration requirements of the Securities and Exchange Commission (SEC). Specifically, securities offerings are exempt from these registration requirements if (1) the aggregate amount of securities sold to all investors by the issuer is not more than $250,000, (2) the amount sold to any investor by the issuer does not exceed $5,000, and (3) the transaction is conducted through a registered broker or funding portal. This exemption ends three years after the date of enactment.
The SEC may by rule prohibit a person from engaging in such an offering if the person is subject to certain bad-actor or statutory disqualifications.
The Government Accountability Office must report on the impact of this exemption.
What just happenedMar 12, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 12, 2020
- Mar 12, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Mar 12, 2020IntroReferralIntro-H
Introduced in House
- Mar 12, 2020IntroReferral1000
Introduced in House