summary
Introduced
11/15/2023
11/15/2023
In Committee
11/15/2023
11/15/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend the Investment Company Act of 1940 to address entities that are not considered to be investment companies for the purposes of that Act, and for other purposes.
AI Summary
This bill amends the Investment Company Act of 1940 to increase the maximum number of investors an investment company can have from 250 to 500 persons, and to raise the maximum asset threshold from $10 million to $50 million before the investment company is considered an "investment company" subject to the Act's regulations. These changes are intended to expand opportunities for American entrepreneurship by allowing more individuals to invest in and start investment companies without triggering the full regulatory requirements of the Act.
Committee Categories
Housing and Urban Affairs
Sponsors (3)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 11/15/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/3319/all-info |
| BillText | https://www.congress.gov/118/bills/s3319/BILLS-118s3319is.pdf |
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