Legis Daily

Developing and Empowering our Aspiring Leaders Act of 2022

USA117th CongressHR-4227| House 
| Updated: 7/27/2022
Trey Hollingsworth

Trey Hollingsworth

Republican Representative

Indiana

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Developing and Empowering our Aspiring Leaders Act of 2022 This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations if the SEC determines such revisions would facilitate capital formation without compromising investor protection. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows, after SEC approval, investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately be acquired directly from a qualifying portfolio company.

Bill Text Versions

View Text
3 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-8603
Developing and Empowering our Aspiring Leaders Act of 2020

Bill from Previous Congress

HR 115-6177
Developing and Empowering our Aspiring Leaders Act of 2018
Jun 29, 2021
Introduced in House
Jun 29, 2021
Referred to the House Committee on Financial Services.
Apr 5, 2022

Latest Companion Bill Action

S 117-3914
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jul 27, 2022
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Jul 27, 2022
Considered under suspension of the rules. (consideration: CR H7152-7153)
Jul 27, 2022
DEBATE - The House proceeded with forty minutes of debate on H.R. 4227.
Jul 27, 2022
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)
Jul 27, 2022
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7152)
Jul 27, 2022
Motion to reconsider laid on the table Agreed to without objection.
Jul 27, 2022
The title of the measure was amended. Agreed to without objection.
Jul 27, 2022
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 116-8603
    Developing and Empowering our Aspiring Leaders Act of 2020


  • Bill from Previous Congress

    HR 115-6177
    Developing and Empowering our Aspiring Leaders Act of 2018


  • June 29, 2021
    Introduced in House


  • June 29, 2021
    Referred to the House Committee on Financial Services.


  • April 5, 2022

    Latest Companion Bill Action

    S 117-3914
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • July 27, 2022
    Ms. Waters moved to suspend the rules and pass the bill, as amended.


  • July 27, 2022
    Considered under suspension of the rules. (consideration: CR H7152-7153)


  • July 27, 2022
    DEBATE - The House proceeded with forty minutes of debate on H.R. 4227.


  • July 27, 2022
    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)


  • July 27, 2022
    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7152)


  • July 27, 2022
    Motion to reconsider laid on the table Agreed to without objection.


  • July 27, 2022
    The title of the measure was amended. Agreed to without objection.


  • July 27, 2022
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • S 117-3914: Developing and Empowering our Aspiring Leaders Act of 2022
Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)

Developing and Empowering our Aspiring Leaders Act of 2022

USA117th CongressHR-4227| House 
| Updated: 7/27/2022
Developing and Empowering our Aspiring Leaders Act of 2022 This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations if the SEC determines such revisions would facilitate capital formation without compromising investor protection. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows, after SEC approval, investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately be acquired directly from a qualifying portfolio company.

Bill Text Versions

View Text
3 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-8603
Developing and Empowering our Aspiring Leaders Act of 2020

Bill from Previous Congress

HR 115-6177
Developing and Empowering our Aspiring Leaders Act of 2018
Jun 29, 2021
Introduced in House
Jun 29, 2021
Referred to the House Committee on Financial Services.
Apr 5, 2022

Latest Companion Bill Action

S 117-3914
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jul 27, 2022
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Jul 27, 2022
Considered under suspension of the rules. (consideration: CR H7152-7153)
Jul 27, 2022
DEBATE - The House proceeded with forty minutes of debate on H.R. 4227.
Jul 27, 2022
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)
Jul 27, 2022
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7152)
Jul 27, 2022
Motion to reconsider laid on the table Agreed to without objection.
Jul 27, 2022
The title of the measure was amended. Agreed to without objection.
Jul 27, 2022
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 116-8603
    Developing and Empowering our Aspiring Leaders Act of 2020


  • Bill from Previous Congress

    HR 115-6177
    Developing and Empowering our Aspiring Leaders Act of 2018


  • June 29, 2021
    Introduced in House


  • June 29, 2021
    Referred to the House Committee on Financial Services.


  • April 5, 2022

    Latest Companion Bill Action

    S 117-3914
    Committee on Banking, Housing, and Urban Affairs. Hearings held.


  • July 27, 2022
    Ms. Waters moved to suspend the rules and pass the bill, as amended.


  • July 27, 2022
    Considered under suspension of the rules. (consideration: CR H7152-7153)


  • July 27, 2022
    DEBATE - The House proceeded with forty minutes of debate on H.R. 4227.


  • July 27, 2022
    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7152)


  • July 27, 2022
    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7152)


  • July 27, 2022
    Motion to reconsider laid on the table Agreed to without objection.


  • July 27, 2022
    The title of the measure was amended. Agreed to without objection.


  • July 27, 2022
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Trey Hollingsworth

Trey Hollingsworth

Republican Representative

Indiana

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • S 117-3914: Developing and Empowering our Aspiring Leaders Act of 2022
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)