---
kind: "diff"
citation: "H.R. 3050"
bill: "116-hr-3050"
heading: "Expanding Investment in Small Businesses Act"
from: "ih"
from_label: "Introduced in House"
to: "eh"
to_label: "Engrossed in House"
sections_amended: 1
sections_added: 0
sections_removed: 0
url: "https://uscodex.org/bills/116/hr/3050/changes/eh"
---

# H.R. 3050 — what changed

H.R. 3050, Expanding Investment in Small Businesses Act — 1 section amended between Introduced in House and Engrossed in House.

Edits are marked `<del>struck</del>` and `<ins>inserted</ins>`.

## Sec. 2 SEC study

- (a) 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 <del>whether </del><ins>the impacts of </ins>such threshold limits <ins>upon the protection of investors, efficiency, competition, and </ins>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) <del>If </del><ins>How the </ins>investing preferences of diversified companies have shifted <del>away from </del><ins>over time with respect to </ins>companies with smaller market <del>capitalizations.</del><ins>capitalizations and companies in industries where competition may be limited.</ins>
  - (3) The expected <del>increase in the availability of capital </del><ins>impact </ins>to small and emerging growth companies <ins>regarding the availability of capital, related impacts on investor confidence and risk, and impacts on competition, </ins>if the threshold is <del>increased.</del><ins>increased or otherwise changed.</ins>
  - (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) any legislative recommendations of the <del>Commission, including any recommendation to update the 10 per centum threshold.</del><ins>Commission.</ins>