Expanding American Entrepreneurship Act

Senate Bill 3976 - Expanding American Entrepreneurship Act: Overview, Status, and Impact

Hozzl · 2022-12-29T22:48:21Z

Explore the details of Senate Bill 3976 Expanding American Entrepreneurship Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/29/2022, 10:48 PM

Congressional Summary of S 3976

Expanding American Entrepreneurship Act

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 500 persons and $50 million, respectively.

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Current Status of Bill S 3976

Bill S 3976 is currently in the status of Bill Introduced since March 31, 2022. Bill S 3976 was introduced during Congress 117 and was introduced to the Senate on March 31, 2022. Bill S 3976's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of April 5, 2022

Bipartisan Support of Bill S 3976

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3976

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Banking and financial institutions regulation

- Business investment and capital

- Business records

- Securities

Alternate Title(s) of Bill S 3976

Expanding American Entrepreneurship Act

A bill to amend the Investment Company Act of 1940 to address entities that are not considered to be investment companies for the purposes of that Act, and for other purposes.