Expanding American Entrepreneurship Act
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2022
Committee Review
Floor Vote
President
Introduced Mar 31, 2022
Last action Apr 5, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
1
Committee
2
Apr 5, 2022
Upper · Passed
Committee on Banking, Housing, and Urban Affairs. Hearings held.
upper
Mar 31, 2022
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Mar 31, 2022
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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