HR 2167 · 112th Congress 2011–2013, ended

Private Company Flexibility and Growth Act

Introduced Jun 14, 2011 Originated House Sponsor David Schweikert R-AZ

Fact sheet

Latest action · Dec 12, 2011 Placed on the Union Calendar, Calendar No. 223.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJun 14, 2011
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons.

Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.)

Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.

 


Cosponsors 27

Members who signed on, in the order they did. Signatures ran from Jun 14, 2011 to Oct 26, 2011, with 7 there on the day it was introduced.

SeatCosponsorSigned on
R-CADarrell IssaOriginalJun 14, 2011
D-COEd PerlmutterOriginalJun 14, 2011
R-TXFrancisco "Quico" CansecoOriginalJun 14, 2011
D-CTJames A. HimesOriginalJun 14, 2011
R-ILJudy BiggertOriginalJun 14, 2011
D-ILMike QuigleyOriginalJun 14, 2011
R-NCWalter B. JonesOriginalJun 14, 2011
R-CAJohn CampbellJun 15, 2011
R-NCPatrick T. McHenryJun 15, 2011
R-ILDonald A. ManzulloJun 24, 2011
R-OHRobert E. LattaJul 28, 2011
D-NYGregory W. MeeksAug 9, 2011
D-COJared PolisAug 9, 2011
D-CALoretta SanchezSep 9, 2011
R-VARobert HurtSep 9, 2011
Show all 27 cosponsors

Actions 10

Everything that happened, newest first.

  1. Dec 12, 2011Placed on the Union Calendar, Calendar No. 223.
  2. Dec 12, 2011Reported (Amended) by the Committee on Financial Services. H. Rept. 112-327.
  3. Oct 26, 2011Committee Consideration and Mark-up Session Held.
  4. Oct 26, 2011Ordered to be Reported by Voice Vote.
  5. Oct 5, 2011Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
Show all 10 actions

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 1824Private Company Flexibility and Growth ActRelated billMar 6, 2012

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 2

Each version as it was printed, newest first.

  1. Dec 12, 2011Reported in House
  2. Jun 14, 2011Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.