S 3939 117th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Financial services and investments Securities State and local government operations

SEED Act of 2022

Introduced: March 28, 2022 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov

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 28, 2022

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

Mar 28, 2022

Introduced in Senate

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Plain-English summary Congressional Research Service

Small Entrepreneurs' Empowerment and Development Act of 2022 or the SEED Act of 2022

This bill creates an exemption to securities registration requirements for a micro-offering of securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption.

The bill defines a micro-offering as an aggregate amount of securities sold by an issuer that does not exceed $500,000 in a 12-month period. This exemption does not apply to issuers who are convicted of specified financial crimes or are subject to specified disciplinary actions.

What's happening now April 5, 2022

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

Bill text 1 version