US Congress House Bill 3784 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 7-3)
Status: Passed on December 16 2016 - 100% progression
Action: 2016-12-16 - Became Public Law No: 114-284.
Text: Latest bill text (Enrolled) [PDF]

SEC Small Business Advocate Act of 2016 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to establish within the Securities and Exchange Commission (SEC) an Office of the Advocate for Small Business Capital Formation. The Advocate for Small Business Capital Formation shall: assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations; identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations; identify problems that small businesses have with securing access to capital, including any unique challenges to minority-owned and women-owned small businesses; analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation; conduct outreach to such businesses and investors to solicit views on relevant capital formation issues; propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors; consult with the Investor Advocate on such proposals and advise the Investor Advocate on small business-related issues; submit annual reports on its activities to specified congressional committees; and be responsible for planning, organizing, and executing the annual Government-Business Forum on Small Business Capital Formation. The bill also establishes the Small Business Capital Formation Advisory Committee, which shall provide the SEC with advice on SEC rules, regulations, and policies regarding its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to: capital raising by emerging, privately held small businesses and publicly traded companies with less than $250 million in public market capitalization through securities offerings; trading in the securities of such businesses and companies; and public reporting and corporate governance requirements of such businesses and companies. The SEC shall assess the committee's recommendations and disclose any action it intends to take with respect to such recommendations.

SEC Small Business Advocate Act of 2016

Rep. John Carney [D-DE]	Rep. Sean Duffy [R-WI]	Rep. Mike Quigley [D-IL]	Rep. Ander Crenshaw [R-FL]
Rep. Brad Sherman [D-CA]	Rep. Stephen Fincher [R-TN]	Rep. Carolyn Maloney [D-NY]	Rep. Kathleen Rice [D-NY]
Rep. Daniel Kildee [D-MI]	Rep. Nydia Velazquez [D-NY]

Date	Chamber	Action
2016-12-16	Senate	Became Public Law No: 114-284.
2016-12-16	Senate	Signed by President.
2016-12-15	Senate	Presented to President.
2016-12-12	Senate	Message on Senate action sent to the House.
2016-12-10	Senate	Passed Senate without amendment by Unanimous Consent.
2016-12-10	Senate	Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S7108)
2016-02-02	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2016-02-01	House	Motion to reconsider laid on the table Agreed to without objection.
2016-02-01	House	On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H379-381)
2016-02-01	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 3784.
2016-02-01	House	Considered under suspension of the rules. (consideration: CR H379-382)
2016-02-01	House	Mr. Garrett moved to suspend the rules and pass the bill, as amended.
2016-02-01	House	Placed on the Union Calendar, Calendar No. 311.
2016-02-01	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 114-408.
2015-12-09	House	Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
2015-12-09	House	Committee Consideration and Mark-up Session Held.
2015-12-08	House	Committee Consideration and Mark-up Session Held.
2015-12-02	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2015-10-21	House	Referred to the House Committee on Financial Services.
2015-10-21	House	Introduced in House

HB4168 (Related) 2016-02-03 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 361.
SB2867 (Related) 2016-06-14 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
HB5485 (Related) 2016-07-12 - Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 557.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3784/all-info
Text	https://www.congress.gov/114/bills/hr3784/BILLS-114hr3784ih.pdf
Text	https://www.congress.gov/114/bills/hr3784/BILLS-114hr3784rh.pdf
Text	https://www.congress.gov/114/bills/hr3784/BILLS-114hr3784eh.pdf
Text	https://www.congress.gov/114/bills/hr3784/BILLS-114hr3784enr.pdf