Sen. Tim Scott

This bill requires the Department of Homeland Security to prohibit, with certain exceptions, individuals from entering the United States through a coastal or land port of entry or a Border Patrol station near a U.S. land border. This prohibition shall not apply to a (1) U.S. citizen or lawful permanent resident, (2) member of the U.S. Armed Forces or the spouse and children of a member, or (3) person from a foreign country with valid travel documents arriving at a designated port of entry. This prohibition shall be in place until February 1, 2025.

This resolution designates April 16 through April 24, 2022, as National Park Week. The resolution also encourages the people of the United States and the world to responsibly visit, experience, recreate in, and support the treasured national parks of the United States.

Reducing Regulatory Burdens Act This bill establishes procedures to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment. The bill further prohibits agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation. Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.

Real Emergencies Act This bill denies the President authority to declare a national emergency, an emergency or major disaster, or a public health emergency on the premise of climate change.

Expanding American Entrepreneurship Act This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 500 persons and $50 million, respectively.

Small Entrepreneurs' Empowerment and Development Act of 2022 or the SEED Act of 2022 This bill creates an exemption to securities registration requirements for a micro-offering of securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption. The bill defines a micro-offering as an aggregate amount of securities sold by an issuer that does not exceed $500,000 in a 12-month period. This exemption does not apply to issuers who are convicted of specified financial crimes or are subject to specified disciplinary actions.

Gig Worker Equity Compensation Act This bill expands the existing Securities and Exchange Commission registration exemption for securities that are part of an employee-compensation package. Specifically, the bill applies this exemption to securities provided to independent contractors performing work for the issuer and to customers of the issuer. The bill also requires the corresponding aggregate sales amount to be indexed for inflation annually instead of every 5 years as under current law.

Equal Opportunity for all Investors Act This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors. Specifically, the bill allows an individual to qualify through an examination established by the Securities and Exchange Commission (SEC), a state securities commission, or certain self-regulatory organizations. The examination must measure whether an individual understands and appreciates the risks and opportunities of investing in securities, must be designed to ensure that an individual with financial sophistication or training would be unlikely to fail, and may be designed and/or administered by an approved person. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience. The bill also allows purchasers to self-certify that they meet the income or net worth requirements. Further, the bill allows a person to qualify as an accredited investor by satisfying certain investment or transaction requirements. Finally, the SEC may review and adjust the definition of accredited investor, except for the net worth standards, at its discretion. Currently, the SEC must perform this review every four years.

Maddy summarySRES 565 is a ceremonial Senate resolution honoring the late Representative Don Young (R-AK), who served 49 years in the U.S. House of Representatives - the longest tenure of any Alaska representative and the 45th Dean of the House. The resolution commemorates his life, service, and legacy, including his work on landmark legislation like the Trans-Alaska Pipeline authorization and the Alaska Native Claims Settlement Act. It contains no policy changes or new laws; instead, it directs the Senate to mourn his passing, honor his bipartisan service, and transmit a copy to his family. This is a purely symbolic resolution with no direct impact on constituents or legislation.

This resolution designates March 24, 2022, as National Women in Agriculture Day. It also recognizes the important role of women in agriculture as producers, educators, leaders, mentors, and more