Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 3914
117th Congress(2021-2022)
Developing and Empowering our Aspiring Leaders Act of 2022
Introduced
Introduced
Introduced in Senate on Mar 24, 2022
Overview
Text
Introduced
Mar 24, 2022
Latest Action
Apr 5, 2022
Origin Chamber
Senate
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
3914
Congress
117
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
Mike Rounds
South Dakota
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Developing and Empowering our Aspiring Leaders Act of 2022

This bill directs the Securities and Exchange Commission to revise venture capital investment regulations. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund.

The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.

Text (1)
Introduced in Senate
March 24, 2022
Related Bills (1)
Jul 26, 2022
Passed House
1
Sponsorship
House Bill 4227
To require the Securities and Exchange Commission to revise the definition of a qualifying investment to include an equity security issued by a qualifying portfolio company, whether acquired directly from the company or in a secondary acquisition, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, and for other purposes.
Active
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (3)
04/05/2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
03/24/2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
03/24/2022
Introduced in Senate
Public Record
Record Updated
Aug 18, 2023 3:00:29 PM
Copyright © 2024 Civic Bits LLC
Privacy Policy
Terms of Service
What's New
About