Access to Capital for Job Creators Act
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HR 2940 — Access to Capital for Job Creators Act
Last action — Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 225.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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Died in session
This bill died with 112th Congress. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Access to Capital for Job Creators Act - Amends the Securities Act of 1933 to exempt from specified prohibitions relating to interstate commerce and the mails any transactions by an issuer that do not involve a public offering (as under current law), whether or not such transactions involve general solicitation or general advertising. Directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors. Requires such rules to require the issuer to take reasonable steps to verify that purchasers of the securities are accredited investors, using methods determined by the SEC.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 2940 on the official United States source →Action History
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Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 225.
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Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
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Motion to reconsider laid on the table Agreed to without objection.
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The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2930.
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The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2940.
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On passage Passed by recorded vote: 413 - 11 (Roll no. 828). (text: CR H7289)
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On motion to recommit with instructions Failed by recorded vote: 190 - 236 (Roll no. 827). (consideration: CR H7313)
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The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7313)
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DEBATE - The House proceeded with 10 minutes of debate on the DeFazio motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to prohibit those who have been convicted of fraud in connection with a financial transaction.
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Mr. DeFazio moved to recommit with instructions to Financial Services. (consideration: CR H7312; text: CR H7312)
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H.AMDT.849 On agreeing to the Miller (NC) amendment (A002) Failed by the Yeas and Nays: 190 - 234 (Roll no. 826).
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Considered as unfinished business. (consideration: CR H7311-7314)
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POSTPONED PROCEEDINGS - At the conclusion of debate on the Miller (NC) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Miller (NC) demanded a recored vote and the Chair postponed further proceedings on the amendment under clause 8(a)(1)(A) of rule XX.
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DEBATE - Pursuant to the provisions of H. Res. 453, the House proceeded with 10 minutes of debate on the Miller (NC) Part B amendment.
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H.AMDT.849 Amendment (A002) offered by Mr. Miller (NC). (consideration: CR H7294-7295, H7311-7312; text: CR H7294)Amendment sought to require a disclosure that if there are going to be unregulated solicitations or advertisements seeking investments in certain companies, the advertisement or solicitation must disclose the existence of any compensation agreement or "golden parachute" severance package for executives that might result in redirection of any profits.
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DEBATE - The House proceeded with one hour of debate on H.R. 2940.
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Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
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Considered under the provisions of rule H. Res. 453. (consideration: CR H7289-7295)
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Rule H. Res. 453 passed House.
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Rules Committee Resolution H. Res. 453 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
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Placed on the Union Calendar, Calendar No. 176.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 112-263.
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Ordered to be Reported by Voice Vote.
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Committee Consideration and Mark-up Session Held.
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Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
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Subcommittee Consideration and Mark-up Session Held.
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Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
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Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
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Referred to the House Committee on Financial Services.
Sponsors
- Kevin McCarthy · Primary
Sponsorship breakdown
Export CSV (upgrade) →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.
Show all 546 →"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.
Subjects
Frequently asked questions
- What does HR 2940 do?
- Access to Capital for Job Creators Act - Amends the Securities Act of 1933 to exempt from specified prohibitions relating to interstate commerce and the mails any transactions by an issuer that do not involve a public offering (as under current law), whether or not such transactions involve general solicitation or general advertising. Directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors. Requires such rules to require the issuer to take reasonable steps to verify that purchasers of the securities are accredited investors, using methods determined by the SEC.
- Who sponsors HR 2940?
- HR 2940 is sponsored by Kevin McCarthy (R).
- What is the current status of HR 2940?
- This bill died with 112th Congress. It reached “Introduced” 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 2940?
- Track HR 2940 free on One Click Politics — get push/email alerts when it moves.
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