Supporting America's Innovators Act of 2017

Bill: 115-s-444
Sponsor: Sen. Heitkamp, Heidi [D-ND]
Introduced: 2017-02-27 in the Senate
Policy area: Finance and Financial Sector
Subjects: Business investment and capital
Financial services and investments

Summary:
action_date: 2017-02-27
text: 

Supporting America's Innovators Act of 2017

 
This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital.
 
Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.

action_date: 2017-03-13
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Supporting America's Innovators Act of 2017

 
(Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital.
 
Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.

action_date: 2017-09-11
text: 
(This measure has not been amended since it was introduced. The expanded summary of the Senate reported version is repeated here.) 

Supporting America's Innovators Act of 2017

 
(Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital.
 
Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.


Legislative actions:
action_date: 2017-09-12
text: Held at the desk.
action_date: 2017-09-12
text: Message on Senate action sent to the House.
action_date: 2017-09-12
text: Received in the House.
action_date: 2017-09-11
text: Passed Senate without amendment by Unanimous Consent. (consideration: CR S5168; text: CR S5168)
action_date: 2017-09-11
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S5168; text: CR S5168)
action_date: 2017-04-26
text: Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 115-58.
action_date: 2017-03-13
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 12.
action_date: 2017-03-13
text: Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo without amendment. Without written report.
action_date: 2017-03-13
text: Committee on Banking, Housing, and Urban Affairs. Reported by Senator Crapo without amendment. Without written report.
action_date: 2017-03-09
text: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported without amendment favorably.
action_date: 2017-02-27
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2017-02-27
text: Introduced in Senate