HR 2790
118th Congress
House
Finance and Financial Sector
Banking and financial institutions regulation
Business investment and capital
Business records
Securities
Improving Capital Allocation for Newcomers Act of 2021
Introduced: April 20, 2023
Introduced by:
Timmons, William R.
Republican
· South Carolina
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2023
Referred to the House Committee on Financial Services.
Apr 20, 2023
Introduced in House
Plain-English summary
Improving Capital Allocation for Newcomers Act of 2021 [sic]
This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 2000 persons and $150 million, respectively.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1