US Congress House Bill 3972 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Engrossed on October 25 2017 - 50% progression, died in committee
Action: 2017-10-25 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]

Family Office Technical Correction Act of 2017 (Sec. 2) This bill provides that family offices are accredited investors as set forth by the Securities and Exchange Commission in Regulation D, allowing such investors to purchase certain unregistered securities. (A family office is a company that has no clients other than family clients, is wholly owned and exclusively controlled by family clients, and does not hold itself out to the public as an investment advisor.) A family office is an accredited investor if: the office manages assets in excess of $5 million, the office was not formed for the purpose of acquiring the offered securities, and a qualified person is directing the purchase.

Family Office Technical Correction Act of 2017

Rep. Carolyn Maloney [D-NY]

Date	Chamber	Action
2017-10-25	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2017-10-24	House	Motion to reconsider laid on the table Agreed to without objection.
2017-10-24	House	On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8097)
2017-10-24	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 3972.
2017-10-24	House	Considered under suspension of the rules. (consideration: CR H8097-8099)
2017-10-24	House	Mr. Barr moved to suspend the rules and pass the bill, as amended.
2017-10-23	House	Placed on the Union Calendar, Calendar No. 266.
2017-10-23	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 115-362.
2017-10-12	House	Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
2017-10-12	House	Committee Consideration and Mark-up Session Held.
2017-10-11	House	Committee Consideration and Mark-up Session Held.
2017-10-05	House	Referred to the House Committee on Financial Services.
2017-10-05	House	Introduced in House

HB6147 (Related) 2018-09-07 - Message on Senate action sent to the House.
SB488 (Related) 2018-07-18 - Message on House action received in Senate and at desk: House amendments to Senate bill.
HB6258 (Related) 2018-06-28 - Placed on the Union Calendar, Calendar No. 612.
HB4287 (Related) 2017-11-10 - Referred to the Subcommittee on Communications and Technology.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3972/all-info
Text	https://www.congress.gov/115/bills/hr3972/BILLS-115hr3972ih.pdf
Text	https://www.congress.gov/115/bills/hr3972/BILLS-115hr3972rh.pdf
Text	https://www.congress.gov/115/bills/hr3972/BILLS-115hr3972eh.pdf