A BILL 
To direct the Securities and Exchange Commission to elimi-
nate the prohibition against general solicitation as a re-
quirement for a certain exemption under Regulation D. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Access to Capital for 
Job Creators Act’’. 
SEC. 2. MODIFICATION OF EXEMPTION. 
Not later than 90 days after the date of the enact-
ment of this Act, the Securities and Exchange Commission 
shall revise its rules issued in section 230.506 of title 17, 
Code of Federal Regulations, to provide that the prohibi-
tion against general solicitation or general advertising con-
tained in section 230.502(c) of such title shall not apply 
to offers and sales of securities made pursuant to section 
230.506, provided that all purchasers of the securities are 
accredited investors. 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Access to Capital for 
Job Creators Act’’. 
SEC. 2. MODIFICATION OF EXEMPTION. 
(a) REMOVAL OF RESTRICTION.—Section 4(2) of the 
Securities Act of 1933 (15 U.S.C. 77d(2)) is amended by 
adding before the period the following: ‘‘, whether or not 
such transactions involve general solicitation or general ad-
vertising’’. 
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(b) MODIFICATION OF RULES.—Not later than 90 days 
after the date of the enactment of this Act, the Securities 
and Exchange Commission shall revise its rules issued in 
section 230.506 of title 17, Code of Federal Regulations, to 
provide that the prohibition against general solicitation or 
general advertising contained in section 230.502(c) of such 
title shall not apply to offers and sales of securities made 
pursuant to section 230.506, provided that all purchasers 
of the securities are accredited investors. Such rules shall 
require the issuer to take reasonable steps to verify that pur-
chasers of the securities are accredited investors, using such 
methods as determined by the Commission. 
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Union Calendar No. 176 
112TH CONGRESS 
1ST SESSION 
H. R. 2940 
[Report No. 112–263] 
A BILL 
To direct the Securities and Exchange Commission 
to eliminate the prohibition against general solici-
tation as a requirement for a certain exemption 
under Regulation D. 
OCTOBER 31, 2011 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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