H.R. 2167 · 112th Congress
Private Company Flexibility and Growth Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SchweikertSponsor27 cosponsors · 14 D, 13 R
R
Biggert
QC
R
Canseco
JH
D
Himes
DI
R
Issa
WJ
R
Jones
EP
D
Perlmutter
MQ
D
Quigley
JC
R
Campbell
PM
R
McHenry
DM
R
Manzullo
RL
R
Latta
GM
D
Meeks
JP
D
Polis
RH
R
Hurt
LS
D
Sanchez
DB
D
Boren
MF
R
Fitzpatrick
PW
D
Welch
GA
D
Ackerman
BD
R
Dold
NH
R
Hayworth
JC
D
Carney
RH
D
Hinojosa
CM
D
Maloney
AS
D
Smith
GC
D
Connolly
JK
R
Kline7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC).
What it does: CRS summary · Reported to House with amendment(s) · Dec 12, 2011
Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons.
Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.)
Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Private Company Flexibility and Growth Act
Latest action (Dec 12, 2011): Placed on the Union Calendar, Calendar No. 223.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 14, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.