H.R.2930: Entrepreneur Access to Capital Act

About This Bill

  • This bill was introduced in the 112th Congress
  • This bill is primarily about finance and financial sector
  • Introduced Sept. 14, 2011
  • Latest Major Action Dec. 1, 2011

Bill Summary

Entrepreneur Access to Capital Act - (Sec. 2) Amends the Securities Act of 1933 to exempt from its registration requirements and prohibitions any transactions involving the offer or sale of (crowdfunded) securities by an issuer if the aggregate amount sold within the previous 12-month period in reliance upon the exemption is: (1) $1 million, adjusted for inflation, or less; or (2) $2 million, adjusted for inflation, or less if the issuer...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There is one statement associated with H.R.2930.

Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.2930.

Bill Actions

Date Description
Referred to the House Committee on Financial Services.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 18 - 14 .
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 112-262.
Placed on the Union Calendar, Calendar No. 175.
Rules Committee Resolution H. Res. 453 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
Considered under the provisions of rule H. Res. 453.
Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 453 and Rule XVIII.
The Speaker designated the Honorable Charles F. Bass to act as Chairman of the Committee.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2930.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the McHenry amendment.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Fincher amendment.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Quayle amendment.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Velazquez amendment.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Velazquez amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Velazquez demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Barrow amendment.
DEBATE - Pursuant to the provisions of H.Res. 453, the Committee of the Whole proceeded with 10 minutes of debate on the Perlmutter amendment.
The Committee rose informally to receive a message.
The Committee resumed its sitting.
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2930.
The previous question was ordered pursuant to the rule.
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
Mr. Holt moved to recommit with instructions to Financial Services.
DEBATE - The House proceeded with 10 minutes of debate on the Holt motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add language that prohibits an intermediary from participating in a crowdfunding transaction if they are doing business with the Iranian government.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by recorded vote: 187 - 237 (Roll no. 824).
On passage Passed by recorded vote: 407 - 17 (Roll no. 825).
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 224.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Sept. 14, 2011

Introduced in the House by Patrick T. McHenry (R-N.C.)

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