Small Business Capital Formation Enhancement Act
(Sec. 2) This bill amends the Small Business Investment Incentive Act of 1980 with respect to the annual government-business forum of the Securities and Exchange Commission (SEC) to review the current status of problems and programs relating to small business capital formation.
The SEC shall review the forum's findings and recommendations and issue a public statement promptly assessing each submitted finding or recommendation and disclosing any action the SEC intends to take on it.
Nothing in this bill shall require the SEC to agree to or act upon any finding or recommendation.
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1312 Introduced in House (IH)]
<DOC>
115th CONGRESS
1st Session
H. R. 1312
To amend the Small Business Investment Incentive Act of 1980 to require
an annual review by the Securities and Exchange Commission of the
annual government-business forum on capital formation that is held
pursuant to such Act.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 2, 2017
Mr. Poliquin (for himself and Mr. Vargas) introduced the following
bill; which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To amend the Small Business Investment Incentive Act of 1980 to require
an annual review by the Securities and Exchange Commission of the
annual government-business forum on capital formation that is held
pursuant to such Act.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Small Business Capital Formation
Enhancement Act''.
SEC. 2. ANNUAL REVIEW OF GOVERNMENT-BUSINESS FORUM ON CAPITAL
FORMATION.
Section 503 of the Small Business Investment Incentive Act of 1980
(15 U.S.C. 80c-1) is amended by adding at the end the following:
``(e) The Commission shall--
``(1) review the findings and recommendations of the forum;
and
``(2) each time the forum submits a finding or
recommendation to the Commission, promptly issue a public
statement--
``(A) assessing the finding or recommendation of
the forum; and
``(B) disclosing the action, if any, the Commission
intends to take with respect to the finding or
recommendation.''.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-104.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-104.
Placed on the Union Calendar, Calendar No. 61.
Mr. Hill moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2980-2981)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1312.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
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Considered as unfinished business. (consideration: CR H2988-2989)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 406 - 0 (Roll no. 238).(text: CR H2980)
Roll Call #238 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 406 - 0 (Roll no. 238). (text: CR H2980)
Roll Call #238 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.