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HR 4850 114th Congress House Finance and Financial Sector Securities State and local government operations

Micro Offering Safe Harbor Act

Introduced: March 23, 2016 Introduced by: Emmer, Tom Republican · Minnesota See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 6, 2016
Placed on the Union Calendar, Calendar No. 561.
Sep 6, 2016
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-723.
Jun 16, 2016
Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 25.
Jun 16, 2016
Committee Consideration and Mark-up Session Held.
Jun 15, 2016
Committee Consideration and Mark-up Session Held.
Apr 14, 2016
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Mar 23, 2016
Referred to the House Committee on Financial Services.
Mar 23, 2016
Introduced in House
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 Plain-English summary Congressional Research Service

Micro Offering Safe Harbor Act

This bill amends the Securities Act of 1933 to exempt from specified prohibitions against the sale or delivery after sale of unregistered securities, among other things, transactions involving the sale of securities by an issuer of micro-offerings that meet all of the following criteria:

  • each purchaser has a substantive pre-existing relationship with either an officer or director of the issuer, or with a shareholder holding 10% or more of the issuer's shares;
  • during the 12-month period preceding the transaction there are no more than 35 purchasers of such micro-offerings sold in reliance on this exemption; and
  • the aggregate amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.

The exemption provided under this bill is not available for a transaction involving a sale of securities if any of specified persons connected with their issuance would have triggered disqualification as a "bad actor" pursuant to regulations under the Act.

The bill also exempts such micro-offerings from state regulation of securities offerings.

What's happening now September 6, 2016

Placed on the Union Calendar, Calendar No. 561.

 Related & companion bills 2
  • HR 2357 Related bill Accelerating Access to Capital Act of 2016
  • HR 5983 Related bill Financial CHOICE Act of 2016
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Republican 2
R
Barr, Andy
Kentucky · Mar 23, 2016
 R
Williams, Roger
Texas · Mar 23, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4850: Micro Offering Safe Harbor Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4850/
MLA
"H.R. 4850: Micro Offering Safe Harbor Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4850/.
Bluebook (legal)
H.R. 4850, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4850/.
Markdown link
[H.R. 4850: Micro Offering Safe Harbor Act](https://openamerica.io/bill/114-HR-4850/)
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