To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action.

Bill: 113-hr-701
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Introduced: 2013-02-14 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Financial services and investments
Securities
Securities and Exchange Commission (SEC)

Summary:
action_date: 2013-02-14
text: 
Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.
 

action_date: 2013-05-15
text: 
Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.
 


Legislative actions:
action_date: 2013-05-16
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2013-05-15
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2013-05-15
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 416 - 6 (Roll no. 148). (text: CR H2627)
action_date: 2013-05-15
text: Passed/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): 416 - 6 (Roll no. 148).(text: CR H2627)
action_date: 2013-05-15
text: Considered as unfinished business. (consideration: CR H2636)
action_date: 2013-05-15
text: At 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.
action_date: 2013-05-15
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 701.
action_date: 2013-05-15
text: Considered under suspension of the rules. (consideration: CR H2627-2629)
action_date: 2013-05-15
text: Mr. McHenry moved to suspend the rules and pass the bill, as amended.
action_date: 2013-05-15
text: Placed on the Union Calendar, Calendar No. 36.
action_date: 2013-05-15
text: Reported by the Committee on Financial Services. H. Rept. 113-58.
action_date: 2013-05-15
text: Reported by the Committee on Financial Services. H. Rept. 113-58.
action_date: 2013-05-07
text: Ordered to be Reported by Voice Vote.
action_date: 2013-05-07
text: Committee Consideration and Mark-up Session Held.
action_date: 2013-02-14
text: Referred to the House Committee on Financial Services.
action_date: 2013-02-14
text: Introduced in House
action_date: 2013-02-14
text: Introduced in House