summary
Introduced
03/31/2022
03/31/2022
In Committee
03/31/2022
03/31/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Investment Company Act of 1940 to address entities that are not considered to be investment compa- nies for the purposes of that Act, and for other purposes.
AI Summary
This bill amends the Investment Company Act of 1940 to increase the number of investors a private investment fund can have before being considered an "investment company" under the Act, from 250 to 500 persons. It also increases the asset threshold for these private funds from $10 million to $50 million. These changes are intended to expand access to capital for American entrepreneurs and small businesses by allowing more investors to participate in private investment funds without triggering the regulatory requirements of the Investment Company Act.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Committee on Banking, Housing, and Urban Affairs. Hearings held. (on 04/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/3976/all-info | 04/01/2022 |
| BillText | https://www.congress.gov/117/bills/s3976/BILLS-117s3976is.pdf | 04/05/2022 |
| Bill | https://www.congress.gov/117/bills/s3976/BILLS-117s3976is.pdf.pdf | 04/05/2022 |
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