HR 701 · 113th Congress 2013–2015, ended

To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action.

Introduced Feb 14, 2013 Originated House Sponsor Patrick T. McHenry R-NC

Fact sheet Spreadsheet

Latest action · May 16, 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.

  1. IntroducedFeb 14, 2013
  2. Passed HouseMay 15, 2013
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Securities Act of 1933 to set October 31, 2013, as the deadline for the Securities and Exchange Commission (SEC) to add a class of domestic securities to those already exempted from regulation under that Act in accordance with specified terms and conditions, including that: (1) the aggregate offering amount of all securities offered and sold within the prior 12-month period in reliance on the new exemption shall not exceed $50 million, (2) the securities may be offered and sold publicly, and (3) they shall not be restricted securities under federal securities laws and regulations.

Recorded votes 1

Newest first. Open one to see how every member voted.

Roll callQuestionResultDate
House 148On Motion to Suspend the Rules and Pass, as AmendedPassed416–6May 15, 2013

Yea 416

Nay 6

Not voting 11

Cosponsors 6

Members who signed on, in the order they did. Signatures ran from Feb 14, 2013 to May 13, 2013; 4 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-CAAnna G. EshooOriginalFeb 14, 2013
R-AZDavid SchweikertOriginalFeb 14, 2013
D-GADavid ScottOriginalFeb 14, 2013
R-NJScott GarrettOriginalFeb 14, 2013
R-NYChris CollinsApr 12, 2013
R-PAMichael G. FitzpatrickMay 13, 2013

Committees 2

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Feb 14, 2013Markup May 7, 2013Reported May 15, 2013
SenateBanking, Housing, and Urban Affairs Committee
Referred May 16, 2013

Actions 14

Everything that happened, newest first.

  1. May 16, 2013Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. May 15, 2013Reported by the Committee on Financial Services. H. Rept. 113-58.
  3. May 15, 2013Placed on the Union Calendar, Calendar No. 36.
  4. May 15, 2013Mr. McHenry moved to suspend the rules and pass the bill, as amended.
  5. May 15, 2013Considered under suspension of the rules. (consideration: CR H2627-2629)
Show all 14 actions

In the Congressional Record 1

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.

WhereIn the RecordMembersDate
HouseDebate and remarks H2627–H2629Text printed H2627Recorded votes H2636setDennis A. Ross R-FL, John D. Dingell D-MI, Maxine Waters D-CA, Patrick T. McHenry R-NCMay 15, 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

  1. May 15, 2013H.R. 701, a bill to amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such actionAs ordered reported by the House Committee on Financial Services on May 7, 2013

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article One, Section Eight.

The sponsor’s statement, as printed in the page H548.

Printed hearings 1

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

NumberHearingCommitteeHeld
Serial No. 113-29REDUCING BARRIERS TO CAPITAL FORMATION122 pagesFinancial Services CommitteeJun 12, 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.

ProductTitleKindPublished
R43084Amending the JOBS Act: Issues in the 113th Congress ArchivedReportMay 23, 2013

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To amend a provision of the Securities Act of 1933 directing the Securities and Exchange Commission to add a particular class of securities to those exempted under such Act to provide a deadline for such action.

Subjects

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

Text 4

Each version as it was printed, newest first.

  1. May 16, 2013Referred in Senate
  2. May 15, 2013Engrossed in House
  3. May 15, 2013Reported in House
  4. Feb 14, 2013Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.