US HR1219

Bill

US HR1219

Supporting America's Innovators Act of 2017

Introduced
02/27/2017

In Committee
03/09/2017

Crossed Over
04/06/2017

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Supporting America's Innovators Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital. Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.

AI Summary

This bill amends the Investment Company Act of 1940 to exempt a qualifying venture capital fund, which has less than $10 million in aggregate capital contributions and uncalled committed capital, from being considered an "investment company" if it has no more than 250 investors. Under the current law, a venture capital fund is considered an investment company if it has more than 100 investors.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (5)

Patrick McHenry (R)*, Josh Gottheimer (D), Trey Hollingsworth (R), Brad Sherman (D), Nydia Velázquez (D),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 04/06/2017)

Official Document

https://www.congress.gov/bill/115th-congress/house-bill/1219/all-info

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/house-bill/1219/all-info
BillText	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219eh.pdf
Bill	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219eh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219rh.pdf
Bill	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219rh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219ih.pdf
Bill	https://www.congress.gov/115/bills/hr1219/BILLS-115hr1219ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HRes242	Providing for consideration of the bill (H.B. 1219) to amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company, and providing for proceedings during the period from April 7, 2017, through April 24, 2017.	Motion to reconsider laid on the table Agreed to without objection.	Related
HRes905	Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2155	Economic Growth, Regulatory Relief, and Consumer Protection Act	Became Public Law No: 115-174.	Related
S444	Supporting America's Innovators Act of 2017	Held at the desk.	Same As

Bill > HR1219

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary