Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
IIB
118TH CONGRESS
1ST SESSION H. R. 2796
IN THE SENATE OF THE UNITED STATES
MAY 31 (legislative day, MAY 30), 2023
Received; read twice and referred to the Committee on Banking, Housing, and
Urban Affairs
AN ACT
To amend the Securities Exchange Act of 1934 to require
the Advocate for Small Business Capital Formation to
provide educational resources and host events to promote
capital raising options for traditionally underrepresented
small businesses, and for other purposes.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
VerDate Sep 11 2014
02:46 Jun 01, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2796.RFS
H2796
kjohnson on DSK79L0C42PROD with BILLS
2
HR 2796 RFS
SECTION 1. SHORT TITLE.
1
This Act may be cited as the ‘‘Promoting Opportuni-
2
ties for Non-Traditional Capital Formation Act’’.
3
SEC. 2. PROMOTING CAPITAL RAISING OPTIONS FOR TRA-
4
DITIONALLY
UNDERREPRESENTED
SMALL
5
BUSINESSES.
6
Section 4(j)(4) of the Securities Exchange Act of
7
1934 (15 U.S.C. 78d(j)(4)) is amended—
8
(1) in subparagraph (G), by striking ‘‘and’’ at
9
the end;
10
(2) in subparagraph (H), by striking the period
11
at the end and inserting a semicolon; and
12
(3) by adding at the end the following:
13
‘‘(I) provide educational resources and host
14
events to raise awareness of capital raising op-
15
tions for—
16
‘‘(i)
underrepresented
small
busi-
17
nesses, including women-owned and minor-
18
ity-owned small businesses;
19
‘‘(ii) businesses located in rural areas;
20
and
21
‘‘(iii) small businesses affected by hur-
22
ricanes or other natural disasters; and
23
‘‘(J) at least annually, meet with rep-
24
resentatives of State securities commissions to
25
discuss opportunities for collaboration and co-
26
VerDate Sep 11 2014
02:46 Jun 01, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2796.RFS
H2796
kjohnson on DSK79L0C42PROD with BILLS
3
HR 2796 RFS
ordination with respect to efforts to assist small
1
businesses and small business investors.’’.
2
Passed the House of Representatives May 30, 2023.
Attest:
CHERYL L. JOHNSON,
Clerk.
VerDate Sep 11 2014
02:46 Jun 01, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2796.RFS
H2796
kjohnson on DSK79L0C42PROD with BILLS