118th Congress Finance and Financial Sector
H.R. 2790: Improving Capital Allocation for Newcomers Act of 2021
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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 2000 persons and $150 million, respectively.
Written by the Congressional Research Service, Library of Congress.
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Other bills by William Timmons
History
- Introduced in the House by William Timmons.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.