H.R. 2201
Referred to CommitteeMicro Offering Safe Harbor Act
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
11/13/2017 • Senate
Summary
Micro Offering Safe Harbor Act
(Sec. 2) This bill amends the Securities Act of 1933 to exempt certain micro-offerings from: (1) state regulation of securities offerings, and (2) federal prohibitions related to interstate solicitation.
The exempted micro-offerings must meet all of the following requirements:
- the purchaser has a substantive pre-existing relationship with the issuer,
- during the 12-month period preceding the transaction there are no more than 35 purchasers relying on the exemption, and
- the amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.
A transaction shall not qualify for the exemption if the issuer or one of certain related persons triggers a "bad actor" disqualification under specified regulations due to a relevant criminal conviction, court or regulatory order, or other disciplinary event.
Passed House amended • 11/9/2017
Topics & Subjects
CBO Cost Estimates (1)
Amendments (1)
This bill has 1 amendment proposed or adopted.
View all amendments on Congress.govRelated Federal Spending
Sponsor & Cosponsors (6)
Party Breakdown
Sponsor
Cosponsors (5)
Bill Journey
Originated in the House
Introduced
April 27, 2017
Committee Review
October 11, 2017
Committee Consideration and Mark-up Session Held.
Floor Debate
November 9, 2017
Passed Chamber
November 8, 2017
Other Chamber
President
Enacted into Law
Text Versions (4)
Committee Reports (1)
Related Bills (3)
H.R. 10
Financial CHOICE Act of 2017
H.Res. 609
Providing for consideration of the bill (H.R. 2201) to amend the Securities Act of 1933 to exempt certain micro-offerings from the registration requirements of such Act, and for other purposes.
H.R. 4850
Micro Offering Safe Harbor Act