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Supporting America's Innovators Act of 2016

1/11/2023, 1:31 PM

Congressional Summary of HR 4854

Supporting America's Innovators Act of 2016

This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.

The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.

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Current Status of Bill HR 4854

Bill HR 4854 is currently in the status of Bill Introduced since March 23, 2016. Bill HR 4854 was introduced during Congress 114 and was introduced to the House on March 23, 2016.  Bill HR 4854's most recent activity was Received in the Senate. as of July 6, 2016

Bipartisan Support of Bill HR 4854

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 4854

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Business investment and capital
- Financial services and investments
- Securities

Alternate Title(s) of Bill HR 4854

Supporting America's Innovators Act of 2016
To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company.
Supporting America's Innovators Act of 2016
Supporting America's Innovators Act of 2016
Supporting America's Innovators Act of 2016

Comments

Sponsors and Cosponsors of HR 4854

Patrick T. McHenry
Patrick T. McHenry
North CarolinaRepublican
David Schweikert
David Schweikert
ArizonaRepublican

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