United States 115th Congress Status: Passed House Bipartisan · 3 D · 2 R cosponsors

HR 1219 — Supporting America's Innovators Act of 2017

Last action — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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

This bill died with 115th Congress. It reached “Passed House” 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment.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

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) Supporting America's Innovators Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital. Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.

Bill Text

What changed in the latest version

1 added · 6 removed

Plain-language change summary

The amendment involves the removal of specific text regarding the bill's progression in the legislative process, including its referral to the Senate and the name of a congressional member. This change is a procedural update that typically reflects the bill's journey through Congress, but it does not affect the content or intent of the bill itself.

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1219 Referred in Senate (RFS)] <DOC> 115th CONGRESS 1st Session H.
1219 Engrossed in House (EH)] <DOC> 115th CONGRESS 1st Session H.
1219 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 6 (legislative day, April 4), 2017 Received;
1219 _______________________________________________________________________ AN ACT To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company.
read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ AN ACT To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company.
KAREN L.
Clerk.
HAAS, Clerk.
115th CONGRESS 1st Session H.
R.
1219 _______________________________________________________________________ AN ACT To amend the Investment Company Act of 1940 to expand the investor limitation for qualifying venture capital funds under an exemption from the definition of an investment company.
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Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Financial Services.

  4. Committee Consideration and Mark-up Session Held.

  5. Ordered to be Reported by the Yeas and Nays: 54 - 2.

  6. Reported by the Committee on Financial Services. H. Rept. 115-70.

  7. Reported by the Committee on Financial Services. H. Rept. 115-70.

  8. Placed on the Union Calendar, Calendar No. 41.

  9. Rules Committee Resolution H. Res. 242 Reported to House. Rule provides for consideration of H.R. 1219 with 1 hour of general debate. The resolution provides for one motion to recommit; and providing for proceedings during the period from April 7, 2017 through April 24, 2017

  10. Rule H. Res. 242 passed House.

  11. Considered under the provisions of rule H. Res. 242. (consideration: CR H2759-2767)

  12. Rule provides for consideration of H.R. 1219 with 1 hour of general debate. The resolution provides for one motion to recommit; and providing for proceedings during the period from April 7, 2017 through April 24, 2017

  13. DEBATE - The House proceeded with one hour of debate on H.R. 1219.

  14. The previous question was ordered pursuant to the rule.

  15. Passed/agreed to in House: On passage Passed by the Yeas and Nays: 417 - 3 (Roll no. 221).(text: CR H2759)

  16. On passage Passed by the Yeas and Nays: 417 - 3 (Roll no. 221). (text: CR H2759)

  17. Motion to reconsider laid on the table Agreed to without objection.

  18. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 4 co-sponsors · 542 not signed on

Sponsors (1)

Co-sponsors (4)

Not signed on (542)

542 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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 1219 do?
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) Supporting America's Innovators Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital. Under current law, a venture capital fund is considered to be an investment company if it has more than 100 investors.
Who sponsors HR 1219?
HR 1219 is sponsored by Velázquez, Nydia M. (Democratic), Hollingsworth, Trey (Republican), Sherman, Brad (Democratic), Gottheimer, Josh (Democratic), and McHenry, Patrick T. (Republican).
What is the current status of HR 1219?
This bill died with 115th Congress. It reached “Passed House” 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 1219?
Track HR 1219 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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