H.R. 6252 · 116th Congress
Relief for Small Businesses Through Micro-Offerings Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
McHenrySponsor4 cosponsors · 4 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Relief for Small Businesses Through Micro-Offerings Act of 2020
What it does: CRS summary · Introduced in House · Mar 12, 2020
Relief for Small Businesses Through Micro-Offerings Act of 2020
This bill temporarily exempts certain securities offerings from the registration requirements of the Securities and Exchange Commission (SEC). Specifically, securities offerings are exempt from these registration requirements if (1) the aggregate amount of securities sold to all investors by the issuer is not more than $250,000, (2) the amount sold to any investor by the issuer does not exceed $5,000, and (3) the transaction is conducted through a registered broker or funding portal. This exemption ends three years after the date of enactment.
The SEC may by rule prohibit a person from engaging in such an offering if the person is subject to certain bad-actor or statutory disqualifications.
The Government Accountability Office must report on the impact of this exemption.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Relief for Small Businesses Through Micro-Offerings Act of 2020
Latest action (Mar 12, 2020): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 12, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.