US Congress House Bill 8603 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on October 16 2020 - 25% progression, died in committee
Action: 2020-10-16 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations. Specifically, the bill allows investments acquired through secondary transactions to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the investments predominately must be acquired directly. Under current law, non-qualifying investments—which include secondary transactions—may comprise up to 20% of a venture capital fund.

Developing and Empowering our Aspiring Leaders Act of 2020

Rep. Trey Hollingsworth [R-IN]

Rep. Ben McAdams [D-UT]

Date	Chamber	Action
2020-10-16	House	Referred to the House Committee on Financial Services.
2020-10-16	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/8603/all-info
Text	https://www.congress.gov/116/bills/hr8603/BILLS-116hr8603ih.pdf