Virginia House Bill 1384 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 11 2014 - 25% progression, died in committee
Action: 2015-02-10 - Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Prefiled) [HTML]

Securities Act; crowdfunding exemption. Creates an exemption from the securities, broker-dealer, and agent registration requirements of the Securities Act for an offer or sale of a security by an issuer, or an individual who represents an issuer in an offer or sale, for investments colloquially referred to as crowdfunding. To qualify for the exemption, the transaction is required to meet specific conditions, including the requirements of the federal exemption for intrastate offerings in §3(a)(11) of the Securities Act of 1933 and SEC Rule 147. The amount to be received for all sales of the security in reliance upon this exemption shall not exceed $2 million. The measure expires July 1, 2020.

Securities Act; exemption for crowdfunding.

Sen. Chris Head [R]

Date	Chamber	Action
2015-02-10	House	Left in Commerce and Labor
2015-01-22	House	Subcommittee recommends laying on the table by voice vote
2015-01-20	House	Assigned C & L sub: Subcommittee #2
2014-12-11	House	Referred to Committee on Commerce and Labor
2014-12-11	House	Prefiled and ordered printed; offered 01/14/15 15100942D

Chapter	Article	Section	Citation Type	Statute Text
13	1	514	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+HB1384
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB1384+hil