H.R. 2201 — 115th Congress
Micro Offering Safe Harbor Act
Sponsor
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115th Congress| Measure | Title |
|---|---|
| H.R. 3905 · Public Lands and Natural Resources | Minnesota's Economic Rights in the Superior National Forest Act |
| H.R. 2954 · Finance and Financial Sector | Home Mortgage Disclosure Adjustment Act |
Latest action
Nov 13, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
CRS summary
As of Nov 9, 2017Passed House amended
Micro Offering Safe Harbor Act
(Sec. 2) This bill amends the Securities Act of 1933 to exempt certain micro-offerings from: (1) state regulation of securities offerings, and (2) federal prohibitions related to interstate solicitation.
The exempted micro-offerings must meet all of the following requirements:
- the purchaser has a substantive pre-existing relationship with the issuer,
- during the 12-month period preceding the transaction there are no more than 35 purchasers relying on the exemption, and
- the amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.
A transaction shall not qualify for the exemption if the issuer or one of certain related persons triggers a "bad actor" disqualification under specified regulations due to a relevant criminal conviction, court or regulatory order, or other disciplinary event.
Congressional Research Service, via api.congress.gov (public domain)
Roll-call votes
1 on recordNov 9, 2017 · On Passage
Full roll callYea — 232: 230 R · 1 I · 1 L
Nay — 188: 186 D · 1 I · 1 R
Not Voting — 12: 7 D · 5 R
Member pages currently show roll-call votes from the 119th Congress only. The “Member pages” column marks votes from that congress.