H.R. 4854 · 114th Congress
Supporting America's Innovators Act of 2016
- Stage
- Passed a chamber
- Sponsor
- Patrick McHenry
- Introduced
- 2016-03-23
- Latest action
- 2016-07-06 · Received in the Senate.
Summary
Supporting America's Innovators Act of 2016
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons.
The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.