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HR 2167 112th Congress House Finance and Financial Sector Administrative law and regulatory procedures Corporate finance and management Employee benefits and pensions Financial services and investments Securities Securities and Exchange Commission (SEC)

Private Company Flexibility and Growth Act

Introduced: June 14, 2011 Introduced by: Schweikert, David Republican · Arizona See on congress.gov
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 Everywhere this bill has been 10 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 12, 2011
Reported (Amended) by the Committee on Financial Services. H. Rept. 112-327.
Dec 12, 2011
Placed on the Union Calendar, Calendar No. 223.
Oct 26, 2011
Committee Consideration and Mark-up Session Held.
Oct 26, 2011
Ordered to be Reported by Voice Vote.
Oct 5, 2011
Subcommittee Consideration and Mark-up Session Held.
Oct 5, 2011
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
Oct 4, 2011
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Sep 21, 2011
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Jun 14, 2011
Introduced in House
Jun 14, 2011
Referred to the House Committee on Financial Services.
 Plain-English summary Congressional Research Service

Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons.

Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.)

Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.

 


What's happening now December 12, 2011

Placed on the Union Calendar, Calendar No. 223.

 Committees of jurisdiction 2
 Cosponsors 7
All 7 Democratic 5 Republican 2