US HB6403 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on March 26 2020 - 25% progression, died in committee
Action: 2020-03-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 26 2020 - 25% progression, died in committee
Action: 2020-03-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury shall work with states to invest in new businesses. Specifically, the bill requires Treasury to provide certain funds to participating states, which such states shall use to administer specified approved programs that provide equity investment in new businesses. Certain areas with high levels of venture capital activity are excluded from the calculation of funds allocated to a participating state. Treasury shall also award funds to approved state programs to provide follow-on investments. If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An exit is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders.
Title
New Business Preservation Act
Sponsors
Rep. Dean Phillips [D-MN] | Rep. Ro Khanna [D-CA] | Rep. Tim Ryan [D-OH] | Rep. Terri Sewell [D-AL] |
Rep. Harley Rouda [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2020-03-26 | House | Referred to the House Committee on Financial Services. |
2020-03-26 | House | Introduced in House |
Same As/Similar To
SB3515 (Same As) 2020-03-18 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Accounting and auditing
Advanced technology and technological innovations
Advisory bodies
Business investment and capital
Commerce
Congressional oversight
Department of the Treasury
Financial services and investments
Government lending and loan guarantees
Government studies and investigations
Intergovernmental relations
Minority and disadvantaged businesses
Product development and innovation
Public contracts and procurement
Securities
Small business
State and local finance
State and local government operations
User charges and fees
Advanced technology and technological innovations
Advisory bodies
Business investment and capital
Commerce
Congressional oversight
Department of the Treasury
Financial services and investments
Government lending and loan guarantees
Government studies and investigations
Intergovernmental relations
Minority and disadvantaged businesses
Product development and innovation
Public contracts and procurement
Securities
Small business
State and local finance
State and local government operations
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6403/all-info |
Text | https://www.congress.gov/116/bills/hr6403/BILLS-116hr6403ih.pdf |