US Congress House Bill 4850 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 8-0)
Status: Introduced on March 23 2016 - 25% progression, died in chamber
Action: 2016-09-06 - Placed on the Union Calendar, Calendar No. 561.
Text: Latest bill text (Introduced) [PDF]

Micro Offering Safe Harbor Act This bill amends the Securities Act of 1933 to exempt from specified prohibitions against the sale or delivery after sale of unregistered securities, among other things, transactions involving the sale of securities by an issuer of micro-offerings that meet one or more of the following criteria: each purchaser has a substantive pre-existing relationship with either an officer or director of the issuer, or with a shareholder holding 10% or more of the issuer's shares; during the 12-month period preceding the transaction there are no more than 35 purchasers of such micro-offerings sold in reliance on this exemption; and the aggregate amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000. The bill also exempts such micro-offerings from state regulation of securities offerings.

Micro Offering Safe Harbor Act

Rep. Tom Emmer [R-MN]	Rep. Luke Messer [R-IN]	Rep. Garland Barr [R-KY]	Rep. Edward Royce [R-CA]
Rep. Steve Chabot [R-OH]	Rep. Scott Tipton [R-CO]	Rep. Mo Brooks [R-AL]	Rep. Roger Williams [R-TX]

Date	Chamber	Action
2016-09-06	House	Placed on the Union Calendar, Calendar No. 561.
2016-09-06	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 114-723.
2016-06-16	House	Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 25.
2016-06-16	House	Committee Consideration and Mark-up Session Held.
2016-06-15	House	Committee Consideration and Mark-up Session Held.
2016-04-14	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2016-03-23	House	Referred to the House Committee on Financial Services.
2016-03-23	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4850/all-info
Text	https://www.congress.gov/114/bills/hr4850/BILLS-114hr4850ih.pdf
Text	https://www.congress.gov/114/bills/hr4850/BILLS-114hr4850rh.pdf