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EconomyH.R. 3422Comments

Promoting Opportunities for Non-Traditional Capital Formation Act

Official title: 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.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

How Congress Voted

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What This Bill Does

This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.

Specifically, the office must (1) provide educational resources and host (or participate in) 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.

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Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. House floor actionsMr. Downing moved to suspend the rules and pass the bill, as amended.
  3. Floor Vote
  4. Passed the House
  5. House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  6. House committee actionsCommittee Consideration and Mark-up Session Held
  7. Library of CongressIntroduced in House
  8. House floor actionsReferred to the House Committee on Financial Services.
  9. Introduced
  10. Committee

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