US Congress House Bill 2167 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 14 2011 - 25% progression, died in chamber
Action: 2011-12-12 - Placed on the Union Calendar, Calendar No. 223.
Text: Latest bill text (Introduced) [PDF]

Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons. Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.) Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.

Private Company Flexibility and Growth Act

Rep. David Schweikert [R-AZ]	Rep. Gary Ackerman [D-NY]	Rep. Judy Biggert [R-IL]	Rep. Dan Boren [D-OK]
Rep. John Campbell [R-CA]	Rep. Francisco Canseco [R-TX]	Rep. John Carney [D-DE]	Rep. Gerald Connolly [D-VA]
Rep. Robert Dold [R-IL]	Rep. Michael Fitzpatrick [R-PA]	Rep. Nan Hayworth [R-NY]	Rep. James Himes [D-CT]
Rep. Ruben Hinojosa [D-TX]	Rep. Robert Hurt [R-VA]	Rep. Darrell Issa [R-CA]	Rep. Walter Jones [R-NC]
Rep. John Kline [R-MN]	Rep. Robert Latta [R-OH]	Rep. Carolyn Maloney [D-NY]	Rep. Donald Manzullo [R-IL]
Rep. Patrick McHenry [R-NC]	Rep. Gregory Meeks [D-NY]	Rep. Ed Perlmutter [D-CO]	Rep. Jared Polis [D-CO]
Rep. Mike Quigley [D-IL]	Rep. Loretta Sanchez [D-CA]	Rep. Adam Smith [D-WA]	Sen. Peter Welch [D-VT]

Date	Chamber	Action
2011-12-12	House	Placed on the Union Calendar, Calendar No. 223.
2011-12-12	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 112-327.
2011-10-26	House	Ordered to be Reported by Voice Vote.
2011-10-26	House	Committee Consideration and Mark-up Session Held.
2011-10-05	House	Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
2011-10-05	House	Subcommittee Consideration and Mark-up Session Held.
2011-10-04	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2011-09-21	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2011-06-14	House	Referred to the House Committee on Financial Services.

SB1824 (Related) 2012-03-06 - Committee on Banking, Housing, and Urban Affairs. Hearings held.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/2167/all-info
Text	https://www.congress.gov/112/bills/hr2167/BILLS-112hr2167ih.pdf
Text	https://www.congress.gov/112/bills/hr2167/BILLS-112hr2167rh.pdf