To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add ...
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HR 701 — To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action.
Last action — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 113th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 701 on the official United States source →Action History
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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Motion to reconsider laid on the table Agreed to without objection.
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On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 416 - 6 (Roll no. 148). (text: CR H2627)
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Considered as unfinished business. (consideration: CR H2636)
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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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DEBATE - The House proceeded with forty minutes of debate on H.R. 701.
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Considered under suspension of the rules. (consideration: CR H2627-2629)
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Mr. McHenry moved to suspend the rules and pass the bill, as amended.
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Placed on the Union Calendar, Calendar No. 36.
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Reported by the Committee on Financial Services. H. Rept. 113-58.
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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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Referred to the House Committee on Financial Services.
Sponsors
- Patrick McHenry · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on · 6 voted No
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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 32 | 0 | 0 | 0 |
| D | 157 | 3 | 0 | 8 |
| Democrat | 27 | 3 | 0 | 0 |
| Whig | 2 | 0 | 0 | 0 |
| R | 197 | 0 | 0 | 2 |
| Jackson | 1 | 0 | 0 | 0 |
| Federalist | 0 | 0 | 0 | 1 |
| Total | 416 | 6 | 0 | 11 |
| % of votes cast | 96% | 1% | 0% | 3% |
How each member voted (433)
Subjects
Frequently asked questions
- What does HR 701 do?
- Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.
- Who sponsors HR 701?
- HR 701 is sponsored by Patrick McHenry (R).
- What is the current status of HR 701?
- This bill died with 113th 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 701?
- Track HR 701 free on One Click Politics — get push/email alerts when it moves.
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