Increased Capital Access for Growing Business Act

Bill: 108-hr-3170
Sponsor: Rep. Kelly, Sue W. [R-NY-19]
Introduced: 2003-09-24 in the House
Policy area: Finance and Financial Sector
Subjects: Commerce
Mutual funds
Securities
Securities regulation
Small business
Stock exchanges

Summary:
action_date: 2003-09-24
text: 
Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an &quot;eligible portfolio company,&quot; for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or traded through the facilities of a national securities association; or (2) has an aggregate value of outstanding publicly traded equity securities of not more than $250 million. Allows the Securities and Exchange Commission to adjust such amount consistent with the public interest, protection of investors, and the public purpose.
 
Includes as an eligible business development company, also for such purposes, an investment company: (1) without any such class of equity securities; or (2) that is not an eligible portfolio company because the aggregate value of its outstanding publicly traded equity securities is more than $250 million but not more than $500 million, as long as such securities represent no more than ten percent of the total invested assets of the company.

action_date: 2004-04-28
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an &quot;eligible portfolio company,&quot; for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or traded through the facilities of a national securities association; or (2) has an aggregate value of outstanding publicly traded equity securities of not more than $250 million. Allows the Securities and Exchange Commission to adjust such amount consistent with the public interest, protection of investors, and the public purpose.
 
Includes as an eligible business development company, also for such purposes, an investment company: (1) without any such class of equity securities; or (2) that is not an eligible portfolio company because the aggregate value of its outstanding publicly traded equity securities is more than $250 million but not more than $500 million, as long as such securities represent no more than ten percent of the total invested assets of the company.


Legislative actions:
action_date: 2004-04-29
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2004-04-28
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2004-04-28
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H2423)
action_date: 2004-04-28
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H2423)
action_date: 2004-04-28
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3170.
action_date: 2004-04-28
text: Considered under suspension of the rules. (consideration: CR H2423-2424)
action_date: 2004-04-28
text: Mrs. Kelly moved to suspend the rules and pass the bill.
action_date: 2003-10-03
text: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
action_date: 2003-09-24
text: Referred to the House Committee on Financial Services.
action_date: 2003-09-24
text: Introduced in House
action_date: 2003-09-24
text: Introduced in House