S. 3939 · 117th Congress
SEED Act of 2022
- Stage
- In committee
- Sponsor
- Tim Scott
- Introduced
- 2022-03-28
- Latest action
- 2022-04-05 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
Small Entrepreneurs' Empowerment and Development Act of 2022 or the SEED Act of 2022
This bill creates an exemption to securities registration requirements for a micro-offering of securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption.
The bill defines a micro-offering as an aggregate amount of securities sold by an issuer that does not exceed $500,000 in a 12-month period. This exemption does not apply to issuers who are convicted of specified financial crimes or are subject to specified disciplinary actions.