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HR 6252 116th Congress House Finance and Financial Sector Administrative remedies Government information and archives Licensing and registrations Securities Securities and Exchange Commission (SEC)

Relief for Small Businesses Through Micro-Offerings Act of 2020

Introduced: March 12, 2020 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 12, 2020
Referred to the House Committee on Financial Services.
Mar 12, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Relief for Small Businesses Through Micro-Offerings Act of 2020

This bill temporarily exempts certain securities offerings from the registration requirements of the Securities and Exchange Commission (SEC). Specifically, securities offerings are exempt from these registration requirements if (1) the aggregate amount of securities sold to all investors by the issuer is not more than $250,000, (2) the amount sold to any investor by the issuer does not exceed $5,000, and (3) the transaction is conducted through a registered broker or funding portal. This exemption ends three years after the date of enactment.

The SEC may by rule prohibit a person from engaging in such an offering if the person is subject to certain bad-actor or statutory disqualifications.

The Government Accountability Office must report on the impact of this exemption.

What's happening now March 12, 2020

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3