Politiparty
Politiparty
LeaderboardCongressBills

118th Congress Finance and Financial Sector

H.R. 2793: Encouraging Public Offerings Act of 2023

Passed HouseJun 5, 2023

  1. Introduced (completed)Apr 20, 2023
  2. Passed House (completed)Jun 5, 2023, 384–13
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Passed House, Jun 5, 2023

This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.

Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., test the waters).

Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission (SEC) for review prior to public filing or within one year after the initial public offering or registration (i.e., a follow-on offering).

Read the full summary

If the SEC pursues further rulemaking to related to these provisions, the SEC must submit a report to Congress supporting the basis of the rulemaking.

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, Jun 5, 2023

On Motion to Suspend the Rules and Pass, as Amended

Passed 384–13

Yea 384two-thirds 265Nay 13

  • Democrats185 yea, 13 nay
  • Republicans198 yea, 0 nay
  • Independents1 yea, 0 nay

Broke with their party: Katie Porter (D-CA), Ayanna Pressley (D-MA), Ilhan Omar (D-MN), Alexandria Ocasio-Cortez (D-NY), Summer Lee (D-PA), Pramila Jayapal (D-WA), Robert Garcia (D-CA), Jimmy Gomez (D-CA), Rashida Tlaib (D-MI) and Maxwell Frost (D-FL) voted Nay; and 3 more

See how all 397 members voted

Showing 433 of 433 members

Yea 384

Republicans (198)

Democrats (185)

Independents (1)

Nay 13

Not voting 36

Senate

Not yet voted

Passed the House Jun 5, 2023. Awaiting Senate action.

Roll calls

1 vote on this bill

Showing 1 of 1 roll calls

  • Jun 5, 2023HouseOn Motion to Suspend the Rules and Pass, as AmendedFinal passagePassed, yea-nay 384–13
    Roll call 245 tally by party
    PartyYeaNayPresentNot voting
    Democrats18513014
    Republicans1980022
    Independents1000
    Total38413036

    House roll call 245: On Motion to Suspend the Rules and Pass, as Amended. Passed.

    13 crossed party lines: 13 Democrats

    How each member voted (433)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

4

Bipartisan support.

Who scored on this bill

150 points earned
  1. 1Ann Wagner R-MO SponsorDrew cross-party cosponsors, introduced, reported, passed House4 events+56
  2. 2Jamaal Bowman D-NY1 maverick vote1 event+6
  3. 2Cori Bush D-MO1 maverick vote1 event+6
  4. 2Gregorio Casar D-TX1 maverick vote1 event+6
  5. 2Maxwell Frost D-FL1 maverick vote1 event+6
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Ann Wagner

History

  1. Jun 5, 2023Passed the House, 384–13.
  2. Apr 20, 2023Introduced in the House by Ann Wagner.
Show the full action history (15 actions)
  1. Jun 6, 2023Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 5, 2023Reported (Amended) by the Committee on Financial Services. H. Rept. 118-90.
  3. Jun 5, 2023Placed on the Union Calendar, Calendar No. 67.
  4. Jun 5, 2023Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
  5. Jun 5, 2023Considered under suspension of the rules. (consideration: CR H2727-2729)
  6. Jun 5, 2023DEBATE - The House proceeded with forty minutes of debate on H.R. 2793.
  7. Jun 5, 2023At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  8. Jun 5, 2023Considered as unfinished business. (consideration: CR H2731)
  9. Jun 5, 2023Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 384 - 13 (Roll no. 245). (text: CR H2727-2728)
  10. Jun 5, 2023On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 384 - 13 (Roll no. 245). (text: CR H2727-2728)
  11. Jun 5, 2023Motion to reconsider laid on the table Agreed to without objection.
  12. Apr 26, 2023Committee Consideration and Mark-up Session Held.
  13. Apr 26, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 38 - 1.
  14. Apr 20, 2023Introduced in House
  15. Apr 20, 2023Referred to the House Committee on Financial Services.