HR 8603
Developing and Empowering our Aspiring Leaders Act of 2020
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to clarify and potentially expand how the Securities and Exchange Commission (SEC) defines ‘qualifying investments’ for venture capital funds. It directs the SEC to update its regulations to include equity securities acquired through secondary transactions as qualifying investments. However, for a fund to be considered a venture capital fund, the majority of its investments must still be acquired directly from portfolio companies. This change is intended to make it easier for venture capital funds to operate and attract investment.
Sponsors
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Primary sponsor
Trey Hollingsworth
Cosponsor
Ben McAdams
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