I 
116TH CONGRESS 
2D SESSION 
H. R. 6253 
To expand certain securities exemptions to respond to COVID–19, to establish 
an X-prize for creating an effective COVID–19 vaccine, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 12, 2020 
Mr. MCHENRY (for himself, Mrs. WAGNER, Mr. BARR, Mr. STIVERS, and Mr. 
HUIZENGA) introduced the following bill; which was referred to the Com-
mittee on Financial Services, and in addition to the Committee on Energy 
and Commerce, for a period to be subsequently determined by the Speak-
er, in each case for consideration of such provisions as fall within the ju-
risdiction of the committee concerned 
A BILL 
To expand certain securities exemptions to respond to 
COVID–19, to establish an X-prize for creating an effec-
tive COVID–19 vaccine, and for other purposes. 
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 ‘‘Crowdfunding to Com-
bat the Coronavirus Act’’. 
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SEC. 2. EXPANSION OF CERTAIN SECURITIES EXEMPTIONS 
TO RESPOND TO COVID–19. 
(a) DEFINITIONS.—Section 2(a) of the Securities Act 
of 1933 (15 U.S.C. 77b(a)) is amended by adding at the 
end the following: 
‘‘(20) 
ISSUER
COMBATING
COVID–19.—The 
term ‘issuer combating COVID–19’ means an issuer 
that undertakes— 
‘‘(A) efforts to find a vaccine for COVID– 
19; 
‘‘(B) research or production of medical 
equipment related to COVID–19, including— 
‘‘(i) testing equipment; and 
‘‘(ii) touchless automation and hands- 
free proximity sensing technology; 
‘‘(C) research or production of technology 
or equipment related to social distancing or 
other non-medical strategies to reduce the dan-
ger of COVID–19 to the general population, in-
cluding— 
‘‘(i) online education technology; and 
‘‘(ii) remote video conferencing tech-
nology; and 
‘‘(D) such other activities as the Commis-
sion may determine appropriate.’’. 
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(b) ISSUE EXEMPTIVE AUTHORITY WITH RESPECT 
TO COVID–19.—Section 3(b) of the Securities Act of 
1933 (15 U.S.C. 77c(b)) is amended— 
(1) in paragraph (1), by inserting after ‘‘no 
issue of securities’’ the following: ‘‘(other than an 
issue of securities by an issuer combating COVID– 
19)’’; and 
(2) in paragraph (2)(A), by striking ‘‘The ag-
gregate’’ and inserting ‘‘Except for securities of an 
issuer combating COVID–19, the aggregate’’. 
(c) CROWDFUNDING EXEMPTION WITH RESPECT TO 
COVID–19.—Section 4(a)(6)(A) of the Securities Act of 
1933 (15 U.S.C. 77d(a)(6)(A)) is amended by inserting 
before ‘‘the aggregate amount’’ the following: ‘‘except for 
transactions involving the offer or sale of securities by an 
issuer combating COVID–19,’’. 
(d) EXEMPTION FROM JOINT AND SEVERAL LIABIL-
ITY.—Section 24 of the Securities Act of 1933 (15 U.S.C. 
77x) is amended by adding at the end the following: ‘‘Not-
withstanding any other provision of law, an issuer com-
bating COVID–19 shall not be subject to joint and several 
liability for any claim against such issuer, other than a 
claim of fraud under the securities laws.’’. 
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SEC. 3. COVID–19 X-PRIZE. 
If the Director of the Centers for Disease Control and 
Prevention or the Director of the National Institutes of 
Health determines that a person has created a vaccine for 
COVID–19 that cuts the incidence and mortality rate of 
COVID–19 by more than 50 percent and makes such vac-
cine widely available to the public at affordable rates, such 
Director shall report such determination to the President 
and the Secretary of the Treasury. If, after reviewing such 
report, the President agrees, the Secretary of the Treasury 
shall, without further appropriation and out of any 
amounts in the general fund not otherwise appropriated, 
pay such person $1,000,000,000. 
SEC. 4. GAO STUDY. 
Not later than 1 year after the date of the enactment 
of this Act, the Comptroller General of the United States 
shall submit to Congress a study on the impact of this 
Act and the amendments made by this Act. 
SEC. 5. SUNSET. 
This Act and the amendments made by this Act shall 
have no force or effect after the earlier of— 
(1) the date the Secretary of the Treasury 
awards the prize described under section 3; and 
(2) the end of the 3-year period beginning on 
the date of enactment of this Act. 
Æ 
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