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This bill allows a closed-end fund, a portfolio of pooled assets with a limited number of shares traded on an exchange, to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.
SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
House floor actionsConsidered as unfinished business. (consideration: CR H5790-5793)
Floor Vote
Passed the House
House floor actionsConsidered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)
House floor actionsRules Committee Resolution H. Res. 936 Reported to House. Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-169.
House committee actionsCommittee Consideration and Mark-up Session Held
Library of CongressIntroduced in House
House floor actionsReferred to the House Committee on Financial Services.
Introduced
Committee
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What Congress Said
Members who spoke about this bill on the floor, in their own words from the Congressional Record.
Republicans12 spoke
During consideration of this resolution, all time yielded is for the purpose of debate only.
Striking section 307 keeps the INVEST Act focused on expanding opportunity and liquidity rather than adding a new paperwork burden for public companies.
I rise in strong support of the Incentivizing New Ventures and Economic Strength Through Capital Formation, the INVEST Act, and ask for its immediate passage.
This legislation puts everyday Americans first and uses the strength of our capital markets to fuel growth on Main Street, not Wall Street. The INVEST Act is a major win for workers, entrepreneurs, and small businesses, and I support its passage.
INVEST also streamlines disclosures for startups, and I like that it includes my WKSI bill that alters the status of more companies. More companies can sell securities to the public quicker and with less cost. This bill helps modernize our capital markets, Mr.
I strongly support the INVEST Act, and I commend Congresswoman Ann Wagner and Congressman Greg Meeks for their hard work on this bipartisan project. This is how Congress is supposed to work.
Chairwoman Ann Wagner has been a great leader on capital markets and driving real innovation, but also real investment across this country through our INVEST Act.
I rise today in strong opposition to H.R. 3383, the INVEST Act, which is an end-of-year holiday gift to Wall Street, paid for by the hard-earned savings of teachers, nurses, seniors, and other hardworking Americans.
I rise today in opposition to the rule on the floor. There is so much going on in this rule: the NDAA, the INVEST Act, a bunch of so-called permitting bills that will gut environmental protections.
I rise today in support of the Access to Small Business Investor Capital Act, Section 302 of H.R. 3383 the Increasing Investor Opportunities Act or the INVEST Act.
I rise today because in just 3 weeks, the Affordable Care Act tax credits that helped millions of Americans afford their premiums will expire. These tax credits have been a lifeline for families and small businesses across the country.
After months of bipartisan work and real progress, a key provision of my Enduring Welcome Act, legislation that passed the Foreign Affairs Committee with strong bipartisan support, was set to be included in the NDAA.
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