Delaware House Bill 327 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on July 11 2016 - 100% progression
Action: 2016-07-11 - Signed by Governor
Text: Latest bill text (Engrossed) [HTML]

This bill permits Delaware residents to become early stage investors in Delaware based startups through newly available crowdfunding platforms. The enabling of this new investment tool allows corporations and other business to offer or sell securities via crowdfunding efforts, provided (among other things) that the purchasers of such securities are Delaware residents, the aggregate amount raised by the business through this process cannot exceed $1 million in any twelve-month period, and no person can purchase more than $5,000 worth of securities unless such individual is an accredited investor as defined by the United States Securities and Exchange Commission.

An Act To Amend Title 6, Chapter 73 Of The Delaware Code To Permit Delaware Businesses To Raise Capital Through Intrastate Crowdfunding Activities.

Rep. Bryon Short [D]	Sen. Brian Bushweller [D]	Rep. Gerald Brady [D]	Rep. Richard Collins [R]
Rep. Timothy Dukes [R]	Rep. Ronald Gray [R]	Rep. Debra Heffernan [D]	Rep. Kevin Hensley [R]
Rep. Deborah Hudson [R]	Rep. Quinton Johnson [D]	Rep. Helene Keeley [D]	Rep. Harvey Kenton [R]
Rep. John Kowalko [D]	Rep. Sean Lynn [D]	Rep. Sean Matthews [D]	Rep. Joseph Miro [R]
Rep. John Mitchell [D]	Rep. Edward Osienski [D]	Rep. Michael Ramone [R]	Rep. Daniel Short [R]
Rep. Stephen Smyk [R]	Rep. Jeffrey Spiegelman [R]	Rep. John Viola [D]	Sen. David Wilson [R]
Rep. Lyndon Yearick [R]	Sen. Bryant Richardson [R]	Sen. Bryan Townsend [D]

2016-06-16 - House - House Third Reading (Y: 37 N: 0 NV: 2 Abs: 2) [PASS]
2016-06-14 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2016-07-11	Senate	Signed by Governor
2016-06-16	House	Passed by House of Representatives. Votes: Passed 37 YES 0 NO 2 NOT VOTING 2 ABSENT 0 VACANT
2016-06-14	Senate	Passed by Senate. Votes: Passed 21 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2016-06-14	Senate	Amendment SA 1 - Passed by Senate. Votes: Passed 21 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2016-06-08	Senate	Amendment SA 1 - Introduced and Placed With the Bill in Senate
2016-05-18	Senate	Reported Out of Committee (BANKING AND BUSINESS) in Senate with 4 On Its Merits
2016-05-10	Senate	Assigned to Banking and Business Committee in Senate
2016-05-10	House	Passed by House of Representatives. Votes: Passed 38 YES 0 NO 2 NOT VOTING 1 ABSENT 0 VACANT
2016-05-05	House	Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 7 On Its Merits
2016-04-19	House	Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis148.nsf/2bede841c6272c888025698400433a04/8317316843495a8485257f8b004cf79a?OpenDocument
Text	http://legis.delaware.gov/LIS/lis148.nsf/vwLegislation/HB+327/$file/legis.html?open
Text	http://legis.delaware.gov/LIS/lis148.nsf/EngrossmentsforLookup/HB+327/$file/Engross.html?open
Roll Call	http://legis.delaware.gov/LIS/lis148.nsf/7712cf7cc0e9227a852568470077336f/c1d4613df411712c85257fd20069e399?OpenDocument
Roll Call	http://legis.delaware.gov/LIS/lis148.nsf/7712cf7cc0e9227a852568470077336f/734bb2f1ed718f0f85257fd40079a9a2?OpenDocument