SEED Act of 2023

Hozzl · 2023-12-15T15:56:54Z

Explore the details of House Bill 2609 SEED Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:56 PM

Summary of Bill HR 2609

The SEED Act of 2023, also known as Bill 118 hr 2609, is a piece of legislation introduced in the US Congress aimed at promoting sustainable agriculture and supporting small-scale farmers. The bill focuses on providing resources and funding for research and development of sustainable farming practices, as well as increasing access to markets for small farmers.

One key aspect of the SEED Act is the establishment of a grant program to support farmers in implementing sustainable practices such as crop rotation, cover cropping, and integrated pest management. These practices are designed to improve soil health, reduce the need for chemical inputs, and increase resilience to climate change.

Additionally, the bill includes provisions to expand access to local and regional markets for small farmers, including funding for infrastructure improvements and technical assistance. This is intended to help small farmers compete with larger agricultural operations and increase their profitability. Overall, the SEED Act of 2023 aims to promote sustainable agriculture, support small-scale farmers, and improve the resilience of the US food system. It has received bipartisan support in Congress and is seen as a positive step towards a more sustainable and equitable agricultural sector.

Congressional Summary of HR 2609

Small Entrepreneurs' Empowerment and Development Act of 2023 or the SEED Act of 2023

This bill establishes an exemption to certain securities regulations for small offerings of securities. Specifically, securities registration is not required for a sale of securities if the total amount of securities sold by the issuer during the preceding 12-month period sale does not exceed $250,000.

Furthermore, the Securities and Exchange Commission must issue rules under which an issuer is disqualified from offering securities through this exemption. These rules must disqualify any such offering or sale of securities by a person subject to specified regulatory disciplinary actions or convicted of certain felonies or misdemeanors.

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Current Status of Bill HR 2609

Bill HR 2609 is currently in the status of Bill Introduced since April 13, 2023. Bill HR 2609 was introduced during Congress 118 and was introduced to the House on April 13, 2023. Bill HR 2609's most recent activity was Referred to the House Committee on Financial Services. as of April 13, 2023

Bipartisan Support of Bill HR 2609

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 HR 2609

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 2609

SEED Act of 2023

Small Entrepreneurs’ Empowerment and Development Act of 2023

To amend the Securities Act of 1933 to provide small issuers with a micro-offering exemption free of mandated disclosures or offering filings, but subject to the antifraud provisions of the Federal securities laws, and for other purposes.