S. 3976 · 117th Congress
Expanding American Entrepreneurship Act
- Stage
- In committee
- Sponsor
- Jerry Moran
- Introduced
- 2022-03-31
- Latest action
- 2022-04-05 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
Expanding American Entrepreneurship Act
This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 500 persons and $50 million, respectively.