Encouraging Public Offerings Act of 2023

Bill: 118-hr-2793
Sponsor: Rep. Wagner, Ann [R-MO-2]
Introduced: 2023-04-20 in the House
Policy area: Finance and Financial Sector
Subjects: Financial services and investments
Government information and archives
Securities

Summary:
action_date: 2023-04-20
text: 

Encouraging Public Offerings Act of 2023

 
This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.
 
Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., 
test the waters
). 
 
Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration. 

action_date: 2023-06-05
text: 

Encouraging Public Offerings Act of 2023

 
This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.
 
Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., 
test the waters
). 
 
Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission (SEC) for review prior to public filing or within one year after the initial public offering or registration (i.e., a 
follow-on offering
). 
 
If the SEC pursues further rulemaking to related to these provisions, the SEC must submit a report to Congress supporting the basis of the rulemaking.


Legislative actions:
action_date: 2023-06-06
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2023-06-05
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2023-06-05
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 384 - 13 (Roll no. 245). (text: CR H2727-2728)
action_date: 2023-06-05
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): 384 - 13 (Roll no. 245). (text: CR H2727-2728)
action_date: 2023-06-05
text: Considered as unfinished business. (consideration: CR H2731)
action_date: 2023-06-05
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: 2023-06-05
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 2793.
action_date: 2023-06-05
text: Considered under suspension of the rules. (consideration: CR H2727-2729)
action_date: 2023-06-05
text: Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
action_date: 2023-06-05
text: Placed on the Union Calendar, Calendar No. 67.
action_date: 2023-06-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 118-90.
action_date: 2023-06-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 118-90.
action_date: 2023-04-26
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 38 - 1.
action_date: 2023-04-26
text: Committee Consideration and Mark-up Session Held.
action_date: 2023-04-20
text: Referred to the House Committee on Financial Services.
action_date: 2023-04-20
text: Introduced in House
action_date: 2023-04-20
text: Introduced in House