Small Business Capital Access and Job Preservation Act
Latest action · Dec 9, 2013 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedMar 13, 2013
- Passed HouseDec 4, 2013
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Small Business Capital Access and Job Preservation Act - Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from its registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.
Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.
Recorded votes 3
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 622 | On Passage | Passed254–159 | Dec 4, 2013 |
| House 621 | On Motion to Recommit with Instructions | Failed185–227 | Dec 4, 2013 |
| House 620 | On Agreeing to the Amendment | Failed186–225 | Dec 4, 2013 |
Cosponsors 12
Members who signed on, in the order they did. Signatures ran from Mar 13, 2013 to Nov 18, 2013; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CT | James A. Himes | Original | Mar 13, 2013 |
| D-TN | Jim Cooper | Original | Mar 13, 2013 |
| R-NJ | Scott Garrett | Original | Mar 13, 2013 |
| R-MO | Blaine Luetkemeyer | Jul 31, 2013 | |
| D-MN | Collin C. Peterson | Jul 31, 2013 | |
| D-UT | Jim Matheson | Aug 1, 2013 | |
| R-AL | Spencer Bachus | Aug 1, 2013 | |
| D-FL | Patrick Murphy | Sep 25, 2013 | |
| R-OH | Steve Stivers | Sep 25, 2013 | |
| D-NC | Mike McIntyre | Oct 30, 2013 | |
| R-IL | Randy Hultgren | Nov 13, 2013 | |
| D-GA | David Scott | Nov 18, 2013 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 13, 2013Markup Jun 19, 2013Reported Nov 22, 2013 |
| Capital Markets Subcommittee | Hearings May 23, 2013 | |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Dec 9, 2013 |
Actions 20
Everything that happened, newest first.
- Dec 9, 2013Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Dec 4, 2013Rule H. Res. 429 passed House.
- Dec 4, 2013Considered under the provisions of rule H. Res. 429. (consideration: CR H7470-7491)
- Dec 4, 2013For H.R. 3309, resolution provides one hour of general debate; bill is considered read; specified amendments are in order; and one motion to recommit, with or without instructions. For H.R. 1105, resolution provides that an amendment in the nature of a substitute consisting of the text of Rules Committee print 113-29 shall be considered as adopted; one hour of debate; makes in order an additional specified amendment; and one motion to recommit, with or without instructions.
- Dec 4, 2013DEBATE - The House proceeded with one hour of debate on H.R. 1105.
- Dec 4, 2013DEBATE - Pursuant to the provisions of H.Res. 429, the House proceeded with 10 minutes of debate on the Carolyn Maloney amendment.
- Dec 4, 2013Mr. Horsford moved to recommit with instructions to Financial Services. (consideration: CR H7488; text: CR H7488)
- Dec 4, 2013Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Horsford motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to require that in order for a firm to qualify for exemption from Dodd-Franks registration and reporting requirement, it must provide investment advice for funds that do not own controlling interests in a company that outsources American jobs and publicly report the number of jobs eliminated each quarter at each company owned and controlled by the funds.
- Dec 4, 2013The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7489)
- Dec 4, 2013On motion to recommit with instructions Failed by recorded vote: 185 - 227 (Roll no. 621). (consideration: CR H7490)
- Dec 4, 2013Passed/agreed to in House: On passage Passed by recorded vote: 254 - 159 (Roll no. 622). (text: CR H7470)
- Dec 4, 2013Motion to reconsider laid on the table Agreed to without objection.
- Dec 3, 2013Rules Committee Resolution H. Res. 429 Reported to House. For H.R. 3309, resolution provides one hour of general debate; bill is considered read; specified amendments are in order; and one motion to recommit, with or without instructions. For H.R. 1109, resolution provides that an amendment in the nature of a substitute consisting of the text of Rules Committee print 113-29 shall be considered as adopted; one hour of debate; makes in order an additional specified amendment; and one motion to recommit, with or without instructions.
- Nov 22, 2013Reported by the Committee on Financial Services. H. Rept. 113-276.
- Nov 22, 2013Placed on the Union Calendar, Calendar No. 197.
- Jun 19, 2013Committee Consideration and Mark-up Session Held.
- Jun 19, 2013Ordered to be Reported by the Yeas and Nays: 38 - 18.
- May 23, 2013Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
- Mar 13, 2013Introduced in House
- Mar 13, 2013Referred to the House Committee on Financial Services.
In the Congressional Record 3
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H7110 | Rob Woodall R-GA | Jul 30, 2014 |
| House | Debate and remarks H7461–H7470, H7470–H7491Text printed H7461, H7470Amendments H7468, H7486Motions H7488Recorded votes H7469, H7487, H7489, H7490Carolyn Maloney amendment (require private equity fund advisers to register with the SEC)consideration (H. Res. 429), previous questionenactHorsford motion to recommit (restrict eligibility of investment funds to those that do not own controlling interest in companies that outsource American jobs) | Ann Wagner R-MO, Carolyn B. Maloney D-NY (amendment), Chris Van Hollen D-MD, James A. Himes D-CT, Jared Polis D-CO (amendment), Jeb Hensarling R-TX, Jim Cooper D-TN, Keith Ellison D-MN, Marlin A. Stutzman R-IN, Maxine Waters D-CA, Randy Hultgren R-IL, Richard B. Nugent R-FL, Robert Hurt R-VA, Scott Garrett R-NJ, Stephen F. Lynch D-MA, Stephen Lee Fincher R-TN, Steve Stivers R-OH, Steven Horsford D-NV (motion) | Dec 4, 2013 |
| House | Declaratory Statements H7447 | — | Dec 3, 2013 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Jul 10, 2013H.R. 1105, Small Business Capital Access and Job Preservation ActAs ordered reported by the House Committee on Financial Services on June 19, 2013
Constitutional authority
The sponsor’s statement, as printed in the page H5348.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 113-535 | EXAMINING THE STATE OF SMALL DEPOSITORY INSTITUTIONS284 pages | Banking, Housing, and Urban Affairs Committee | Sep 16, 2014 |
| Serial No. 113-26 | LEGISLATIVE PROPOSALS TO RELIEVE THE RED TAPE BURDEN ON INVESTORS AND JOB CREATORS169 pages | Financial Services Committee | May 23, 2013 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R43326 | Legislation to Repeal the Private Equity Fund Adviser Registration Requirement in the Dodd-Frank Act: In Brief Archived | Report | Dec 3, 2013 |
Amendments 2
Amendments offered to this bill.
| Amendment | Description | Offered by | Status |
|---|---|---|---|
| HAmdt 518 | Amendment in the nature of a substitute. | Rules Committee | House amendment offered |
| HAmdt 519 | Amendment sought to require private equity fund advisers to register with the SEC and sought to direct the SEC to create a simplified registration and disclosure regime for small private equity fund advisers. | Carolyn B. Maloney D-NY | On agreeing to the Maloney, Carolyn amendment (A002) Failed by the Yeas and Nays: 186 - 225 (Roll no. 620). (consideration: CR H7487-7488) |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 4 | Jobs for America Act | Related bill | Nov 13, 2014 |
| HRES 429 | Providing for consideration of the bill (H.R. 3309) to amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes; and providing for consideration of the bill (H.R. 1105) to amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes. | Procedurally related | Dec 4, 2013 |
| HR 4304 | Jumpstarting Opportunities with Bold Solutions Act | Related bill | Jun 13, 2014 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Investment Advisers Act of 1940 to provide a registration exemption for private equity fund advisers, and for other purposes.
- Short Titles as Introduced
- Small Business Capital Access and Job Preservation Act
- Short Titles as Reported to House
- Small Business Capital Access and Job Preservation Act
- Short Titles as Passed House
- Small Business Capital Access and Job Preservation Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Dec 9, 2013Referred in Senate
- Dec 4, 2013Engrossed in House
- Nov 22, 2013Reported in House
- Mar 13, 2013Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
