House Bill 8603
116th Congress(2019-2020)
Developing and Empowering our Aspiring Leaders Act of 2020
Introduced
Introduced in House on Oct 16, 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
8603
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.
No House votes have been held for this bill.
Summary
Developing and Empowering our Aspiring Leaders Act of 2020
This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations. Specifically, the bill allows investments acquired through secondary transactions to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the investments predominately must be acquired directly. Under current law, non-qualifying investments—which include secondary transactions—may comprise up to 20% of a venture capital fund.
October 16, 2020
10/16/2020
Referred to the House Committee on Financial Services.
10/16/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:44:31 PM