United States 117th Congress Status: In Committee 1 R cosponsors

HR 4243 — Improving Capital Allocation for Newcomers Act of 2021

Last action — Referred to the House Committee on Financial Services.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Improving Capital Allocation for Newcomers Act of 2021 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 600 persons and $150 million, respectively.

Bill Text

How this bill changes current law

2 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill increases the thresholds for the number of investors and total assets in qualifying venture capital funds under the Investment Company Act of 1940.

  • 15 U.S.C. 80a-3(c)(1)

    250 persons → 600 persons

    This change allows more investors in qualifying venture capital funds, increasing the maximum number from 250 to 600.

  • 15 U.S.C. 80a-3(c)(1)

    $10,000,000 → $150,000,000

    This change raises the asset threshold for qualifying venture capital funds from $10 million to $150 million.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 4243 do?
Improving Capital Allocation for Newcomers Act of 2021 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 600 persons and $150 million, respectively.
Who sponsors HR 4243?
HR 4243 is sponsored by Timmons, William R. (Republican).
What is the current status of HR 4243?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 4243?
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Last checked for changes 3 months ago · updated continuously

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