Expanding American Entrepreneurship Act
- Last Action
- 11/15/2023
Actions
- 2023-11-15Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-11-15Introduced in Senate
CRS Summary
As of 2023-11-15 (00)
Expanding American Entrepreneurship Act
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 500 persons and $50 million, respectively.
Cosponsors (2)
- Mark Warner (D-VA)
- Tim Scott (R-SC)
Sourced from Congress.gov (public domain).
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