US HR1105

Bill

US HR1105

Small Business Capital Access and Job Preservation Act

Introduced
03/13/2013

In Committee
06/19/2013

Crossed Over
12/09/2013

Passed

Dead
01/03/2015

Introduced Session

113th Congress

Bill Summary

Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments. Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.

AI Summary

This bill, titled the Small Business Capital Access and Job Preservation Act, amends the Investment Advisers Act of 1940 to exempt investment advisers of private equity funds from certain registration and reporting requirements, provided that each private equity fund's outstanding debt does not exceed twice its invested capital commitments. The Securities and Exchange Commission (SEC) is directed to create rules requiring these advisers to keep necessary records, considering factors like fund size and risk, and to define what constitutes a "private equity fund" for the purposes of this exemption. This aims to reduce regulatory burdens on these types of investment funds, potentially encouraging capital access and job preservation within small businesses.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (13)

Robert Hurt (R)*, Spencer Bachus (R), Jim Cooper (D), Scott Garrett (R), Jim Himes (D), Randy Hultgren (R), Blaine Luetkemeyer (R), Jim Matheson (D), Mike McIntyre (D), Patrick Murphy (D), Collin Peterson (D), David Scott (D), Steve Stivers (R),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 12/09/2013)

Official Document

https://www.congress.gov/bill/113th-congress/house-bill/1105/all-info

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/113th-congress/house-bill/1105/all-info
BillText	http://gpo.gov/fdsys/pkg/BILLS-113hr1105eh/pdf/BILLS-113hr1105eh.pdf
Bill	http://gpo.gov/fdsys/pkg/BILLS-113hr1105eh/pdf/BILLS-113hr1105eh.pdf.pdf
BillText	http://gpo.gov/fdsys/pkg/BILLS-113hr1105rh/pdf/BILLS-113hr1105rh.pdf
Bill	http://gpo.gov/fdsys/pkg/BILLS-113hr1105rh/pdf/BILLS-113hr1105rh.pdf.pdf
BillText	http://gpo.gov/fdsys/pkg/BILLS-113hr1105ih/pdf/BILLS-113hr1105ih.pdf
Bill	http://gpo.gov/fdsys/pkg/BILLS-113hr1105ih/pdf/BILLS-113hr1105ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR4	Jobs for America Act	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 597.	Related
HR4304	Jumpstarting Opportunities with Bold Solutions Act	Referred to the Subcommittee on Health, Employment, Labor, and Pensions.	Related
HRes429	Providing for consideration of the bill (H.B. 3309) to amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes; and providing for consideration of the bill (H.B. 1105) to amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Related

Bill > HR1105

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (13)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary