H.R. 2790 · 118th Congress
Improving Capital Allocation for Newcomers Act of 2021
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
TimmonsSponsorNo cosponsors.
Improving Capital Allocation for Newcomers Act of 2021 [ sic ]
What it does: CRS summary · Introduced in House · Apr 20, 2023
Improving Capital Allocation for Newcomers Act of 2021 [sic]
This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 2000 persons and $150 million, respectively.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Improving Capital Allocation for Newcomers Act of 2021
Latest action (Apr 20, 2023): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 20, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.