Small Business Capital Access and Job Preservation Act

Bill: 113-hr-1105
Sponsor: Rep. Hurt, Robert [R-VA-5]
Introduced: 2013-03-13 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Business records
Financial services and investments
Government information and archives
Securities and Exchange Commission (SEC)

Summary:
action_date: 2013-03-13
text: 
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.
 
Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term &quot;private equity fund&quot; for purposes of this Act.

action_date: 2013-11-22
text: 

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

 
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.
 
Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term &quot;private equity fund&quot; for purposes of this Act.

action_date: 2013-12-04
text: 

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

 
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.
 
Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term &quot;private equity fund&quot; for purposes of this Act.


Legislative actions:
action_date: 2013-12-09
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2013-12-04
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2013-12-04
text: On passage Passed by recorded vote: 254 - 159 (Roll no. 622). (text: CR H7470)
action_date: 2013-12-04
text: Passed/agreed to in House: On passage Passed by recorded vote: 254 - 159 (Roll no. 622).(text: CR H7470)
action_date: 2013-12-04
text: On motion to recommit with instructions Failed by recorded vote: 185 - 227 (Roll no. 621). (consideration: CR H7490)
action_date: 2013-12-04
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7489)
action_date: 2013-12-04
text: Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Horsford motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to require that in order for a firm to qualify for exemption from Dodd-Franks registration and reporting requirement, it must provide investment advice for funds that do not own controlling interests in a company that outsources American jobs and publicly report the number of jobs eliminated each quarter at each company owned and controlled by the funds.
action_date: 2013-12-04
text: Mr. Horsford moved to recommit with instructions to Financial Services. (consideration: CR H7488; text: CR H7488)
action_date: 2013-12-04
text: DEBATE - Pursuant to the provisions of H.Res. 429, the House proceeded with 10 minutes of debate on the Carolyn Maloney amendment.
action_date: 2013-12-04
text: DEBATE - The House proceeded with one hour of debate on H.R. 1105.
action_date: 2013-12-04
text: For H.R. 3309, resolution provides one hour of general debate; bill is considered read; specified amendments are in order; and one motion to recommit, with or without instructions. For H.R. 1105, resolution provides that an amendment in the nature of a substitute consisting of the text of Rules Committee print 113-29 shall be considered as adopted; one hour of debate; makes in order an additional specified amendment; and one motion to recommit, with or without instructions.
action_date: 2013-12-04
text: Considered under the provisions of rule H. Res. 429. (consideration: CR H7470-7491)
action_date: 2013-12-04
text: Rule H. Res. 429 passed House.
action_date: 2013-12-03
text: Rules Committee Resolution H. Res. 429 Reported to House. For H.R. 3309, resolution provides one hour of general debate; bill is considered read; specified amendments are in order; and one motion to recommit, with or without instructions. For H.R. 1109, resolution provides that an amendment in the nature of a substitute consisting of the text of Rules Committee print 113-29 shall be considered as adopted; one hour of debate; makes in order an additional specified amendment; and one motion to recommit, with or without instructions.
action_date: 2013-11-22
text: Placed on the Union Calendar, Calendar No. 197.
action_date: 2013-11-22
text: Reported by the Committee on Financial Services. H. Rept. 113-276.
action_date: 2013-11-22
text: Reported by the Committee on Financial Services. H. Rept. 113-276.
action_date: 2013-06-19
text: Ordered to be Reported by the Yeas and Nays: 38 - 18.
action_date: 2013-06-19
text: Committee Consideration and Mark-up Session Held.
action_date: 2013-05-23
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
action_date: 2013-03-13
text: Referred to the House Committee on Financial Services.
action_date: 2013-03-13
text: Introduced in House
action_date: 2013-03-13
text: Introduced in House