US HB6252 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on March 12 2020 - 25% progression, died in committee
Action: 2020-03-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 12 2020 - 25% progression, died in committee
Action: 2020-03-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Relief for Small Businesses Through Micro-Offerings Act of 2020
Sponsors
Rep. Patrick McHenry [R-NC] | Rep. Ann Wagner [R-MO] | Rep. Garland Barr [R-KY] | Rep. Steve Stivers [R-OH] |
Rep. Bill Huizenga [R-MI] |
History
Date | Chamber | Action |
---|---|---|
2020-03-12 | House | Referred to the House Committee on Financial Services. |
2020-03-12 | House | Introduced in House |
Subjects
Administrative remedies
Finance and financial sector
Government information and archives
Licensing and registrations
Securities
Securities and Exchange Commission (SEC)
Finance and financial sector
Government information and archives
Licensing and registrations
Securities
Securities and Exchange Commission (SEC)
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6252/all-info |
Text | https://www.congress.gov/116/bills/hr6252/BILLS-116hr6252ih.pdf |