H.R. 6253 · 116th Congress
Crowdfunding to Combat the Coronavirus Act
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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.
This bill (1) establishes an award for the successful development of a vaccine for the coronavirus (i.e., the virus that causes COVID-19), and (2) extends specified Securities and Exchange Commission (SEC) registration exemptions to issuers of securities responding to the COVID-19 outbreak.
What it does: CRS summary · Introduced in House · Mar 12, 2020
Crowdfunding to Combat the Coronavirus Act
This bill (1) establishes an award for the successful development of a vaccine for the coronavirus (i.e., the virus that causes COVID-19), and (2) extends specified Securities and Exchange Commission (SEC) registration exemptions to issuers of securities responding to the COVID-19 outbreak.
The bill provides appropriations for the purpose of awarding a prize to the creator of a vaccine that (1) reduces the incidence and mortality rate of COVID-19 by more than 50%, and (2) is affordable and widely available to the public.
Additionally, an issuer of securities that is developing a coronavirus vaccine, researching or producing medical equipment related to COVID-19, or researching or producing technology related to preventing the spread of COVID-19 may qualify for an exemption from SEC registration requirements regardless of the size of the issuer's offers or sales. Furthermore, these issuers are not subject to joint and several liability for certain claims.
The provisions set forth in this bill expire the earlier of (1) the date the prize is awarded, or (2) three years after enactment.
The Government Accountability Office must report on the bill's effects.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Crowdfunding to Combat the Coronavirus Act
Latest action (Mar 12, 2020): Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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.