US HR2799

Bill

US HR2799

Expanding Access to Capital Act of 2023

Take action with Issue Voter

Introduced
04/24/2023

In Committee
04/26/2023

Crossed Over
03/11/2024

Passed

Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

AN ACT To make reforms to the capital markets of the United States, and for other purposes.

AI Summary

This bill, the Expanding Access to Capital Act of 2023, makes various reforms to the capital markets of the United States. Key provisions include: allowing companies to calculate market value based on all outstanding stock when determining financial statement significance for acquisitions and dispositions; increasing the criteria for emerging growth company status; providing auditor independence standards for past audits before a company goes public; expanding the protection for research reports to cover all securities of all issuers; excluding qualified institutional buyers and institutional accredited investors from the record holder count for mandatory registration; expanding the definition of a well-known seasoned issuer; creating safe harbors for private placement brokers and finders; allowing closed-end companies to invest in private funds; and making various other changes to increase access to capital for startups, small businesses, and investors.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (1)

Patrick McHenry (R)*,

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/11/2024)

Official Document

https://www.congress.gov/bill/118th-congress/house-bill/2799/all-info

(28 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/118th-congress/house-bill/2799/all-info
BillText	https://www.congress.gov/118/bills/hr2799/BILLS-118hr2799eh.pdf
BillText	https://www.congress.gov/118/bills/hr2799/BILLS-118hr2799rh.pdf
BillText	https://www.congress.gov/118/bills/hr2799/BILLS-118hr2799ih.pdf

Bill	Bill Name	Last Action	Type
HR1553	HALOS Act of 2023 Helping Angels Lead Our Startups Act of 2023	Placed on the Union Calendar, Calendar No. 250.	Related
HR1807	Improving Disclosure for Investors Act of 2023	Placed on the Union Calendar, Calendar No. 239.	Related
HR2497	To permit an issuer, when determining the market capitalization of the issuer for purposes of testing the significance of an acquisition or disposition, to include the value of all shares of the issuer.	Referred to the House Committee on Financial Services.	Related
HR2506	Restoring the Secondary Trading Market Act	Referred to the House Committee on Financial Services.	Related
HR2576	To amend the Securities Act of 1933 to expand the research report exception to include reports about any issuer that undertakes a proposed offering of public securities.	Referred to the House Committee on Financial Services.	Related
HR2578	Small Business Investor Capital Access Act	Referred to the House Committee on Financial Services.	Related
HR2579	Developing and Empowering our Aspiring Leaders Act of 2023	Referred to the House Committee on Financial Services.	Related
HR2590	Unlocking Capital for Small Businesses Act of 2023	Referred to the House Committee on Financial Services.	Related
HR2603	To require the Securities and Exchange Commission to revise certain thresholds related to smaller reporting companies, accelerated filers, and large accelerated filers, and for other purposes.	Referred to the House Committee on Financial Services.	Related
HR2605	To amend the Securities Exchange Act of 1934 to exclude qualified institutional buyers and institutional accredited investors when calculating holders of a security for purposes of the mandatory registration threshold under such Act, and for other purposes.	Referred to the House Committee on Financial Services.	Related
HR2606	To require auditor independence standards of the Public Company Accounting Oversight Board and the Securities and Exchange Commission applicable to past audits of a company occurring before it was a public company to treat an auditor as independent if the auditor meets established professional standards, and for other purposes.	Referred to the House Committee on Financial Services.	Related
HR2607	Improving Crowdfunding Opportunities Act	Referred to the House Committee on Financial Services.	Related
HR2609	SEED Act of 2023 Small Entrepreneurs’ Empowerment and Development Act of 2023	Referred to the House Committee on Financial Services.	Related
HR2612	Gig Worker Equity Compensation Act	Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR2624	Helping Startups Continue To Grow Act	Referred to the House Committee on Financial Services.	Related
HR2625	To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.	Referred to the House Committee on Financial Services.	Related
HR2627	Increasing Investor Opportunities Act	Placed on the Union Calendar, Calendar No. 252.	Related
HR2651	Regulation A+ Improvement Act of 2023	Referred to the House Committee on Financial Services.	Related
HR2652	Investment Opportunity Expansion Act	Referred to the House Committee on Financial Services.	Related
HR2773	To amend the definition of an accredited investor to include individuals receiving advice from certain professionals, and for other purposes.	Referred to the House Committee on Financial Services.	Related
HR2790	Improving Capital Allocation for Newcomers Act of 2021	Referred to the House Committee on Financial Services.	Related
HR3063	Retirement Fairness for Charities and Educational Institutions Act of 2023	Placed on the Union Calendar, Calendar No. 251.	Related
HRes1052	Providing for consideration of the bill (H.R. 2799) to make reforms to the capital markets of the United States, and for other purposes, and providing for consideration of the bill (H.R. 7511) to require the Secretary of Homeland Security to take into custody aliens who have been charged in the United States with theft, and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Related
S3709	Investment Opportunity Expansion Act	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
S3710	Regulation A+ Improvement Act of 2024	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
S3815	Improving Disclosure for Investors Act of 2024	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
S4493	Unlocking Capital for Small Businesses Act of 2024	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
S4917	Retirement Fairness for Charities and Educational Institutions Act of 2024	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related

Bill

Bill Name

Last Action

Type

HR1553

HALOS Act of 2023 Helping Angels Lead Our Startups Act of 2023

Placed on the Union Calendar, Calendar No. 250.

HR1807

Improving Disclosure for Investors Act of 2023

Placed on the Union Calendar, Calendar No. 239.

HR2497

To permit an issuer, when determining the market capitalization of the issuer for purposes of testing the significance of an acquisition or disposition, to include the value of all shares of the issuer.