Skip to content
PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 4855 (114th)

Fix Crowdfunding Act

openUnited States· United States Congress· EN

Introduced

23 March 2016

Last action

6 July 2016 · Introduced

Status

Received in the Senate.

Sponsors

Rep. McHenry, Patrick T. [R-NC-10], Rep. Schweikert, David [R-AZ-1]

Subjects

Discovery layer

Source updated

5 December 2025

Official sourceDownload fileView documentsShare

Summary

Fix Crowdfunding Act This bill amends the Securities Act of 1933 (Act) to increase from $1 million to $5 million the aggregate amount of securities sold to all investors by an issuer that qualify for the crowdfunding exemption from certain prohibitions relating to interstate commerce and the mails. (Crowdfunding is a method of capital formation where groups of people pool money, typically composed of small individual contributions, and often via Internet platforms, either to invest in a company or to support an effort by others to accomplish a specific goal.) The bill amends the Jumpstart Our Business Startups Act (JOBS Act) to declare that a crowdfunding portal shall have a reasonable basis for disqualifying issuers from offering securities through the portal if through a background check it has found that an issuer has made an untrue statement of a material fact, omitted to state a material fact necessary to avoid making misleading statements, or engaged in fraud or deceit. No intermediary (crowdfunding portal) shall be liable for an issuer's material misstatements and omissions unless, in connection with the offer or sale of a security, it knowingly made or omitted such statements or engaged in fraud or deceit. The bill amends the Securities Exchange Act of 1934 to exempt crowdfunding securities transactions from its registration requirements. The Investment Company Act of 1940 is amended to exempt from the definition of investment company, and so exclude from coverage by that Act, any issuer that, for the purpose of making a crowdfunding offering, holds the securities of not more than one issuer eligible to offer securities (a single-purpose fund). The bill allows single-purpose funds to sell and offer for sale securities according to crowdfunding requirements, and considers them venture capital funds. The Act is further amended to permit an issuer, before commencing a crowdfunding offering, to solicit non-binding indications of interest from potential investors in the prospective offering if: no investor funds are accepted by the issuer, and any material change in the information furnished during the actual offering from the information furnished during the solicitation of interest is highlighted to potential investors in the information filed with the Securities and Exchange Commission. No enforcement action may be brought before May 16, 2021, against crowdfunding portals established under the JOBS Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 23 March 2016

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 23 March 2016

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 23 March 2016

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 14 April 2016

    Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Source: Committee

  5. 15 June 2016

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 16 June 2016

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 2.

    Source: Committee

  7. 16 June 2016

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  8. 5 July 2016

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  9. 5 July 2016

    Vote

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 394 - 4 (Roll no. 350). (text: CR H4237)

    Source: Floor

  10. 5 July 2016

    Vote

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 394 - 4 (Roll no. 350).(text: CR H4237)

    Source: Floor

  11. 5 July 2016

    Floor

    Considered under suspension of the rules. (consideration: CR H4236-4240)

    Source: Floor

  12. 5 July 2016

    Vote

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

    Source: Floor

  13. 5 July 2016

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4855.

    Source: Floor

  14. 5 July 2016

    Floor

    Mr. Garrett moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  15. 5 July 2016

    Calendars

    Placed on the Union Calendar, Calendar No. 512.

    Source: Calendars

  16. 5 July 2016

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-661.

    Source: Committee

  17. 5 July 2016

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-661.

    Source: Committee

  18. 6 July 2016

    Introduced

    Received in the Senate.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

10 official files

Received in Senate (text)

View fileDownload file

This file cannot be previewed here. Use View or Download.

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Received in Senate (text)

    Received in Senate · EN · 6 July 2016

    ViewDownloadOpen at official source

  • Received in Senate (PDF)

    Received in Senate · EN · 6 July 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed in House (text)

    Engrossed in House · EN · 5 July 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed in House (PDF)

    Engrossed in House · EN · 5 July 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Reported in House (text)

    Reported in House · EN · 5 July 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Reported in House (PDF)

    Reported in House · EN · 5 July 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Passed House amended

    summary · EN · 5 July 2016

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House (text)

    Introduced in House · EN · 23 March 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House (PDF)

    Introduced in House · EN · 23 March 2016

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House

    summary · EN · 23 March 2016

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Related records

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.