Lineage

Jul 10, 2019 Referred in Senate Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs See what changed
Jul 9, 2019viewing Engrossed in House See what changed
May 30, 2019 Introduced in House Mr. Steil introduced the following bill; which was referred to the Committee on Financial Services

H.R. 3050 — what changed

Expanding Investment in Small Businesses Act

From Introduced in House to Engrossed in House. 1 section amended between Introduced in House and Engrossed in House.

Sec. 2 SEC study

(a)

changed In general— The Securities and Exchange Commission shall carry out a study of the 10 per centum threshold limitation applicable to the definition of a diversified company under section 5(b)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–5(b)(1)) and determine ~~whether~~ the impacts of such threshold limits upon the protection of investors, efficiency, competition, and capital formation.

(b)

Considerations— In carrying out the study required under subsection (a), the Commission shall consider the following:

(1)

The size and number of diversified companies that are currently restricted in their ability to own more than 10 percent of the voting shares in an individual company.

(2)

changed If How the investing preferences of diversified companies have shifted ~~away from~~ over time with respect to companies with smaller market ~~capitalizations.~~capitalizations and companies in industries where competition may be limited.

(3)

changed The expected ~~increase in the availability of capital~~ impact to small and emerging growth companies regarding the availability of capital, related impacts on investor confidence and risk, and impacts on competition, if the threshold is ~~increased.~~increased or otherwise changed.

(4)

The ability of registered funds to manage liquidity risk.

(5)

Any other consideration that the Commission considers necessary and appropriate for the protection of investors.

(c)

Solicitation of public comments— In carrying out the study required under subsection (a), the Commission may solicit public comments.

(d)

Report— Not later than the end of the 180-day period beginning on the date of enactment of this Act, the Commission shall issue a report to the Congress, and make such report publicly available on the website of the Commission, containing—

(1)

all findings and determinations made in carrying out the study required under subsection (a); and

(2)

changed any legislative recommendations of the ~~Commission, including any recommendation to update the 10 per centum threshold.~~Commission.

H.R. 3050 — what changed

Sec. 2 SEC study

Cite this provision

Incoming references