Summary of Bill HR 2624
The Helping Startups Continue To Grow Act, also known as Bill 118 hr 2624, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to support and promote the growth of startup companies in the United States.
One key provision of the bill is the extension of the exemption period for certain securities offerings made by startups. This exemption allows startups to raise capital without having to go through the costly and time-consuming process of registering with the Securities and Exchange Commission. By extending this exemption period, the bill aims to make it easier for startups to access the funding they need to grow and expand their businesses.
Additionally, the Helping Startups Continue To Grow Act includes measures to streamline the regulatory process for startups, making it easier for them to navigate the complex regulatory landscape. This includes provisions to simplify the disclosure requirements for startups and reduce the regulatory burden on small businesses.
Overall, the bill is designed to create a more favorable environment for startups in the US, making it easier for them to raise capital, grow their businesses, and create jobs. Supporters of the bill argue that it will help to spur innovation and economic growth, while critics raise concerns about potential risks to investors and the overall stability of the financial system.
Congressional Summary of HR 2624
Helping Startups Continue To Grow Act
This bill allows certain issuers of securities regulated as emerging growth companies to continue operating under such regulations, including those related to reduced disclosures and other exemptions, for an additional five years. It also raises the limit of total annual gross revenues under which issuers qualify as emerging growth companies to $2 billion. Finally, under the bill, a company may continue to be considered an emerging growth company even after it becomes a large accelerated filer.