Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 6252
116th Congress(2019-2020)
Relief for Small Businesses Through Micro-Offerings Act of 2020
Introduced
Introduced
Introduced in House on Mar 12, 2020
Overview
Text
Introduced
Mar 12, 2020
Latest Action
Mar 12, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6252
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Patrick McHenry
North Carolina
Republican
Andy Barr
Kentucky
Republican
Bill Huizenga
Michigan
Republican
Ann Wagner
Missouri
Republican
Steve Stivers
Ohio
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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.

Text (1)
Introduced in House
March 12, 2020
Actions (2)
03/12/2020
Referred to the House Committee on Financial Services.
03/12/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:17:30 PM
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