S. 1544 · 112th Congress
Small Company Capital Formation Act of 2011
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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.
D
TesterSponsor7 cosponsors · 4 D, 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Company Capital Formation Act of 2011 - Amends the Securities Act of 1933 to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on such exemption is between $5 million and $50…
What it does: CRS summary · Introduced in Senate · Sep 12, 2011
Small Company Capital Formation Act of 2011 - Amends the Securities Act of 1933 to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on such exemption is between $5 million and $50 million, subject to specified terms and conditions.
Limits such an exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities.
Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, its financial condition, and its use of investor funds; and (2) provide for the suspension and termination of such a requirement with respect to that issuer.
Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees on its reasons for not increasing the amount if it determines not to do so.
Treats as a covered security with respect to a transaction exempt from registration requirements pursuant to a rule or regulation adopted under this Act any such security offered or sold: (1) on a national securities exchange, or (2) to a qualified purchaser.
Directs the Comptroller General to study the impact of state laws regulating securities offerings (Blue Sky laws) on offerings made under Regulation A (which specifies the terms and conditions of exemption from the registration requirements of the Securities Act of 1933).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Company Capital Formation Act of 2011
Latest action (Mar 6, 2012): Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-482.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 12, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.