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Bill117th CongressFiled Feb 8, 2021Finance and Financial Sector
H.R. 935

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (May 11, 2022)

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.

What just happenedMay 12, 2022

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Huizenga, Bill [R-MI-2](R-MI)Sponsor
3 cosponsors2 D1 R
Read on Congress.gov
3cosponsors2committees18actions1related bills6subjects
  1. May 12, 2022IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. May 11, 2022FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. May 11, 2022FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 158). (text: 05/10/2022 CR H4746-4747)

  4. May 11, 2022Floor8000

    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): 419 - 0 (Roll no. 158).

  5. May 11, 2022FloorH30000

    Considered as unfinished business. (consideration: CR H4837-4838)

  6. May 10, 2022FloorH37220

    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.

  7. May 10, 2022FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 935.

  8. May 10, 2022FloorH30000

    Considered under suspension of the rules. (consideration: CR H4746-4748)

  9. May 10, 2022FloorH30300

    Mr. Garcia (IL) moved to suspend the rules and pass the bill, as amended.

  10. May 10, 2022CalendarsH12410

    Placed on the Union Calendar, Calendar No. 233.

  11. May 10, 2022CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-313.

    Financial Services Committee
  12. May 10, 2022Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-313.

    Financial Services Committee
  13. Jul 29, 2021Committee

    Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.

    Financial Services Committee
  14. Jul 29, 2021Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. Jul 28, 2021Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  16. Feb 8, 2021IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  17. Feb 8, 2021IntroReferralIntro-H

    Introduced in House

  18. Feb 8, 2021IntroReferral1000

    Introduced in House

Passed HouseMay 11, 202253

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.

Reported to HouseMay 10, 20227

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.

Introduced in HouseFeb 8, 2021

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or are subject to suspension or revocation of registration.

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021 — Informed