H.R. 2167 (112th): Private Company Flexibility and Growth Act

Introduced:
Jun 14, 2011 (112th Congress, 2011–2013)
Status:
Died (Reported by Committee)
See Instead:

S. 1824 (same title)
Referred to Committee — Nov 08, 2011

Sponsor
David Schweikert
Representative for Arizona's 5th congressional district
Party
Republican
Text
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Last Updated
Jun 14, 2011
Length
6 pages
Related Bills
S. 1824 (Related)
Private Company Flexibility and Growth Act

Referred to Committee
Last Action: Nov 08, 2011

 
Status

This bill was introduced on October 26, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 14, 2011
Referred to Committee Jun 14, 2011
Reported by Committee Oct 26, 2011
 
Full Title

To amend the Securities Exchange Act of 1934 to change the threshold number of shareholders for required registration under that Act.

Summary

No summaries available.

Cosponsors
27 cosponsors (14D, 13R) (show)
Committees

House Financial Services

Capital Markets and Government Sponsored Enterprises

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


12/12/2011--Reported to House amended.
Private Company Flexibility and Growth Act - Amends the Securities Exchange Act of 1934 to change the thresholds for total assets and for class of equity security holders of record which trigger the requirement for a securities issuer to register with the Securities and Exchange Commission (SEC). Increases the total assets threshold from $1 million to $10 million, and the class of equity security holders of record threshold from 500-750 to 1,000 persons.
Declares that, with respect to such registration requirement, the definition of "held of record" does not include securities held by persons who received them pursuant to an employee compensation plan in transactions exempted from specified registration requirements of the Securities Act of 1933 (exempt transactions). (Thus exempts securities held by such persons from registration requirements.)
Directs the SEC to: (1) revise the definition of "held of record" in accordance with this Act, and (2) adopt safe harbor provisions issuers can follow when determining that holders of their securities received them pursuant to an employee compensation plan in an exempt transaction.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

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