H.R.4565: Startup Capital Modernization Act of 2014

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Patrick T. McHenry, R-N.C.
Total Cosponsors 1 (All Republicans)
Introduced May 6, 2014
Latest Major Action May 22, 2014
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Startup Capital Modernization Act of 2014 - Amends the Securities Act of 1933 (Act) to increase from $5 million to $10 million the maximum aggregate amount of securities exempt from its purview due to either the small amount involved, or the limited character of the public offering.

Preempts state requirements governing securities registration, documentation, and offerings in connection with small issues related to small company capital formation.

Declares that this Act shall have no impact on state enforcement authority over the unlawful conduct of issuers, intermediaries, or custodians who are exempt from federal registration requirements under the Act.

Amends the Securities Exchange Act of 1934 to exempt certain small issues from its securities registration requirements if the issuer: (1) has filed audited financial statements with the Securities and Exchange Commission (SEC), and (2) is in compliance with all periodic disclosures required by the SEC.(Source: Congressional Research Service)

Bill Actions

Date Description
May 22, 2014 Ordered to be Reported by the Yeas and Nays: 31 - 28.
May 22, 2014 Committee Consideration and Mark-up Session Held.
May 6, 2014 Referred to the House Committee on Financial Services.
May 1, 2014 Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.