Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 4227
117th Congress(2021-2022)
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
Active
Passed House on Jul 26, 2022
Overview
Text
Introduced
Jun 29, 2021
Latest Action
Jul 27, 2022
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
4227
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
Trey Hollingsworth
Indiana
House Votes (1)
Senate Votes (0)
checkPassed on July 26, 2022
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)
Summary

Developing and Empowering our Aspiring Leaders Act of 2021

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 (3)
Referred in Senate
July 27, 2022
Engrossed in House
July 26, 2022
Introduced in House
June 29, 2021
Related Bills (1)
Mar 24, 2022
Introduced in Senate
1
Sponsorship
Senate Bill 3914
Developing and Empowering our Aspiring Leaders Act of 2022
Introduced
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 (10)
07/27/2022
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
07/26/2022
The title of the measure was amended. Agreed to without objection.
07/26/2022
Motion to reconsider laid on the table Agreed to without objection.
07/26/2022
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7152)
07/26/2022
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)
07/26/2022
DEBATE - The House proceeded with forty minutes of debate on H.R. 4227.
07/26/2022
Considered under suspension of the rules. (consideration: CR H7152-7153)
07/26/2022
Ms. Waters moved to suspend the rules and pass the bill, as amended.
06/29/2021
Referred to the House Committee on Financial Services.
06/29/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 8:12:35 PM
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