United States · Bill · HR
H.R. 6427 (114th)
Creating Financial Prosperity for Businesses and Investors Act
Introduced
2 December 2016
Last action
6 December 2016 · Introduced
Status
Received in the Senate.
Sponsors
Rep. Garrett, Scott [R-NJ-5], Rep. Neugebauer, Randy [R-TX-19], Rep. Duffy, Sean P. [R-WI-7], Rep. Carney, John C., Jr. [D-DE-At Large], Rep. Velázquez, Nydia M. [D-NY-7], Rep. McHenry, Patrick T. [R-NC-10], Rep. Huizenga, Bill [R-MI-4], Rep. Poliquin, Bruce [R-ME-2], Rep. Schweikert, David [R-AZ-1], Rep. Hurt, Robert [R-VA-5], Rep. Luetkemeyer, Blaine [R-MO-3]
Subjects
Education
Source updated
3 January 2025
Summary
Creating Financial Prosperity for Businesses and Investors Act This bill amends the Small Business Investment Incentive Act of 1980 to require the Securities and Exchange Commission (SEC) to issue a public statement, and disclose any actions it intends to take, each time its annual government-business forum submits findings or recommendations regarding the current status of problems and programs relating to small business capital formation. The Securities Exchange Act of 1934 is amended to establish within the SEC an Office of the Advocate for Small Business Capital Formation and a Small Business Capital Formation Advisory Committee. The Investment Company Act of 1940 is amended to increase from 100 to 250 the limit on the number of people who may own securities in certain venture capital funds (with no more than $10 million in invested capital, adjusted annually for inflation) before the issuer is required to register as an investment company. The bill allows a crowdfunding issuer to sell shares through a crowdfunding vehicle (a company that aggregates small individual contributions into a single investment in the issuer) that meets certain requirements and revises conditions upon which the SEC exempts securities issued in crowdfunding transactions from SEC registration requirements. The Securities Act of 1933 is amended to add to the definition of accredited investor certain categories of natural persons whose net worth or income exceeds specified levels, who are licensed or registered as brokers or investment advisors, or whose verified education or job experience qualifies as professional knowledge for a particular investment. The Investment Company Act of 1940 is amended to repeal the exemption from its coverage of investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
2 December 2016
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
2 December 2016
Introduced
Introduced in House
Source: IntroReferral
2 December 2016
Introduced
Introduced in House
Source: IntroReferral
5 December 2016
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
5 December 2016
Vote
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 391 - 2 (Roll no. 602). (text: CR H7152-7154)
Source: Floor
5 December 2016
Vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 391 - 2 (Roll no. 602).(text: CR H7152-7154)
Source: Floor
5 December 2016
Floor
Considered under suspension of the rules. (consideration: CR H7152-7156)
Source: Floor
5 December 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
5 December 2016
Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 6427.
Source: Floor
5 December 2016
Floor
Mr. Garrett moved to suspend the rules and pass the bill.
Source: Floor
6 December 2016
Introduced
Received in the Senate.
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Received in Senate · 6 December 2016 · Download file
- Engrossed in House · 5 December 2016 · Download file
- Introduced in House · 2 December 2016 · Download file
Documents
8 official files
Received in Senate (text)
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Received in Senate (text)
Received in Senate · EN · 6 December 2016
Received in Senate (PDF)
Received in Senate · EN · 6 December 2016
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Engrossed in House (text)
Engrossed in House · EN · 5 December 2016
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Engrossed in House (PDF)
Engrossed in House · EN · 5 December 2016
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Passed House without amendment
summary · EN · 5 December 2016
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Introduced in House (text)
Introduced in House · EN · 2 December 2016
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Introduced in House (PDF)
Introduced in House · EN · 2 December 2016
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Introduced in House
summary · EN · 2 December 2016
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
- Rep. Garrett, Scott [R-NJ-5] · R · Sponsor
- Rep. Neugebauer, Randy [R-TX-19] · R · Sponsor
- Rep. Duffy, Sean P. [R-WI-7] · R · Sponsor
- Rep. Carney, John C., Jr. [D-DE-At Large] · D · Sponsor
- Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
- Rep. McHenry, Patrick T. [R-NC-10] · R · Sponsor
- Rep. Huizenga, Bill [R-MI-4] · R · Sponsor
- Rep. Poliquin, Bruce [R-ME-2] · R · Sponsor
- Rep. Schweikert, David [R-AZ-1] · R · Sponsor
- Rep. Hurt, Robert [R-VA-5] · R · Sponsor
- Rep. Luetkemeyer, Blaine [R-MO-3] · R · Sponsor
- · hsba00 · Standing
Related records
- related to → Fair Investment Opportunities for Professional Experts Act
- related to → SEC Small Business Advocate Act of 2016
- related to → Small Business Capital Formation Enhancement Act
- related to → Fix Crowdfunding Act
- related to → Supporting America's Innovators Act of 2016
- related to → Financial Services and General Government Appropriations Act, 2017
- related to → U.S. Territories Investor Protection Act of 2016
- related to → Financial CHOICE Act of 2016
Showing 8 of 11 related records.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/114th-congress/house-bill/6427
- Open data entity: https://api.congress.gov/v3/bill/114/hr/6427
- us · 114-hr-6427 · source updated 3 January 2025