Relief for Small Businesses Through Micro-Offerings Act of 2020

Hozzl · 2022-02-08T23:17:30Z

Explore the details of House Bill 6252 Relief for Small Businesses Through Micro-Offerings Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/8/2022, 11:17 PM

Congressional Summary of HR 6252

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.

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Current Status of Bill HR 6252

Bill HR 6252 is currently in the status of Bill Introduced since March 12, 2020. Bill HR 6252 was introduced during Congress 116 and was introduced to the House on March 12, 2020. Bill HR 6252's most recent activity was Referred to the House Committee on Financial Services. as of March 12, 2020