Promoting Opportunities for Non-Traditional Capital Formation Act

Bill: 118-hr-2796
Sponsor: full_name: Rep. Waters, Maxine [D-CA-43]
Introduced: 2023-04-24
Policy area: Commerce
Subjects: Business investment and capital

Economic development

Economic performance and conditions

Natural disasters

Rural conditions and development

Small business
Latest action: action_date: 2023-05-31
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2023-04-24
action_desc: Introduced in House
text: <p><strong>Promoting Opportunities for Non-Traditional Capital Formation Act</strong></p> <p>This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.</p> <p>Specifically, the office must (1) provide educational resources and host events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.</p>

action_date: 2023-05-30
action_desc: Passed House
text: <p><strong>Promoting Opportunities for Non-Traditional Capital Formation Act</strong></p> <p>This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.</p> <p>Specifically, the office must (1) provide educational resources and host events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.</p>

tv_txt: IIB 118th CONGRESS 1st Session H. R. 2796 IN THE SENATE OF THE UNITED STATES May 31 (legislative day, May 30), 2023 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

1. Short title This Act may be cited as the Promoting Opportunities for Non-Traditional Capital Formation Act . 2. Promoting capital raising options for traditionally underrepresented small businesses Section 4(j)(4) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j)(4) ) is amended— (1) in subparagraph (G), by striking and at the end; (2) in subparagraph (H), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (I) provide educational resources and host events to raise awareness of capital raising options for— (i) underrepresented small businesses, including women-owned and minority-owned small businesses; (ii) businesses located in rural areas; and (iii) small businesses affected by hurricanes or other natural disasters; and (J) at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors. .

Passed the House of Representatives May 30, 2023. Cheryl L. Johnson, Clerk.

tv_txt: I 118th CONGRESS 1st Session H. R. 2796 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

1. Short title This Act may be cited as the Promoting Opportunities for Non-Traditional Capital Formation Act . 2. Promoting capital raising options for traditionally underrepresented small businesses Section 4(j)(4) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j)(4) ) is amended— (1) in subparagraph (G), by striking and at the end; (2) in subparagraph (H), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (I) provide educational resources and host events to raise awareness of capital raising options for— (i) underrepresented small businesses, including women-owned and minority-owned small businesses; (ii) businesses located in rural areas; and (iii) small businesses affected by hurricanes or other natural disasters; and (J) at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors. .

Passed the House of Representatives May 30, 2023. Cheryl L. Johnson, Clerk.

tv_txt: IB Union Calendar No. 57 118th CONGRESS 1st Session H. R. 2796 [Report No. 118–78] IN THE HOUSE OF REPRESENTATIVES April 24, 2023 Ms. Waters introduced the following bill; which was referred to the Committee on Financial Services May 30, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on April 24, 2023 A BILL To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

1. Short title This Act may be cited as the Promoting Opportunities for Non-Traditional Capital Formation Act . 2. Promoting capital raising options for traditionally underrepresented small businesses Section 4(j)(4) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j)(4) ) is amended— (1) in subparagraph (G), by striking and at the end; (2) in subparagraph (H), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (I) provide educational resources and host events to raise awareness of capital raising options for— (i) underrepresented small businesses, including women-owned and minority-owned small businesses; (ii) businesses located in rural areas; and (iii) small businesses affected by hurricanes or other natural disasters; and (J) at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors. .

May 30, 2023 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: I 118th CONGRESS 1st Session H. R. 2796 IN THE HOUSE OF REPRESENTATIVES April 24, 2023 Ms. Waters introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

1. Short title This Act may be cited as the Promoting Opportunities for Non-Traditional Capital Formation Act . 2. Promoting capital raising options for traditionally underrepresented small businesses Section 4(j)(4) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j)(4) ) is amended— (1) in subparagraph (G), by striking and at the end; (2) in subparagraph (H), by striking the period at the end and insert a semicolon; and (3) by adding at the end the following: (I) provide educational resources and host events to raise awareness of capital raising options for— (i) underrepresented small businesses, including women-owned and minority-owned small businesses; (ii) businesses located in rural areas; and (iii) small businesses affected by hurricanes or other natural disasters; and (J) at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors. .