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S 3914 117th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Financial services and investments Securities Securities and Exchange Commission (SEC)

Developing and Empowering our Aspiring Leaders Act of 2022

Introduced: March 24, 2022 Introduced by: Rounds, Mike Republican · South Dakota See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 5, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
Mar 24, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 24, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Developing and Empowering our Aspiring Leaders Act of 2022

This bill directs the Securities and Exchange Commission to revise venture capital investment regulations. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund.

The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.

What's happening now April 5, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.

 Committees of jurisdiction 1