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H.R. 3903 115th Congress House

Encouraging Public Offerings Act of 2017

Official title: To amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes.

Introduced: October 2, 2017 Introduced by: Ted Budd Republican · North Carolina See on congress.gov
Finance and Financial Sector Financial services and investmentsGovernment information and archivesSecurities
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 16 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 2, 2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 1, 2017
The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3903.
Nov 1, 2017
Motion to reconsider laid on the table Agreed to without objection.
Nov 1, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 599). (text: CR H8318)
Nov 1, 2017
Considered as unfinished business. (consideration: CR H8361-8362)
Nov 1, 2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Nov 1, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 3903.
Nov 1, 2017
Considered under suspension of the rules. (consideration: CR H8318-8320)
Nov 1, 2017
Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
Oct 31, 2017
Placed on the Union Calendar, Calendar No. 274.
Oct 31, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-374.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 2, 2017
Introduced in House
Oct 2, 2017
Referred to the House Committee on Financial Services.
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Nov 1, 2017 House · vote #599 On Motion to Suspend the Rules and Pass, as Amended Passed 419–0 See who voted →
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 Latest action November 2, 2017

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Encouraging Public Offerings Act of 2017

(Sec. 2) This bill amends the Securities Act of 1933 to allow an issuer of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., "test the waters"). Under current law, only emerging growth companies may engage in such communications.

The bill also allows an issuer to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.

 Related & companion bills 4
  • HR 6147 Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Adminis…
  • HR 10 Financial CHOICE Act of 2017
  • S 488 Encouraging Employee Ownership Act
  • S 2347 Encouraging Public Offerings Act of 2018
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Meeks, Gregory W.
New York · Oct 2, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3903: Encouraging Public Offerings Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-3903/
MLA
"H.R. 3903: Encouraging Public Offerings Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-3903/.
Bluebook (legal)
H.R. 3903, 115th Cong. (2026), https://openamerica.io/bill/115-HR-3903/.
Markdown link
[H.R. 3903: Encouraging Public Offerings Act of 2017](https://openamerica.io/bill/115-HR-3903/)
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