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H.R. 1312 (115th): Small Business Capital Formation Enhancement Act


The text of the bill below is as of May 1, 2017 (Passed the House).

Summary of this bill

Source: Republican Policy Committee

Since 1982, the SEC has hosted an annual government-business capital formation forum to review concerns of small business called the "SEC Government-Business Forum on Small Business Capital Formation," (“Forum”) as mandated by the Small Business Investment Incentive Act of 1980. The main focus of the Forum is to provide a platform to highlight perceived unnecessary impediments to small business capital formation and address whether they can be eliminated or reduced. Each Forum seeks to develop recommendations for government and private action to improve the environment for small business capital formation, consistent with other public policy goals, including investor protection. Under current law, the SEC is not obligated to respond to …


I

115th CONGRESS

1st Session

H. R. 1312

IN THE HOUSE OF REPRESENTATIVES

AN ACT

To amend the Small Business Investment Incentive Act of 1980 to require an annual review by the Securities and Exchange Commission of the annual government-business forum on capital formation that is held pursuant to such Act.

1.

Short title

This Act may be cited as the Small Business Capital Formation Enhancement Act.

2.

Annual review of government-business forum on capital formation

Section 503 of the Small Business Investment Incentive Act of 1980 (15 U.S.C. 80c–1) is amended by adding at the end the following:

(e)

The Commission shall—

(1)

review the findings and recommendations of the forum; and

(2)

each time the forum submits a finding or recommendation to the Commission, promptly issue a public statement—

(A)

assessing the finding or recommendation of the forum; and

(B)

disclosing the action, if any, the Commission intends to take with respect to the finding or recommendation.

(f)

Forum findings

Nothing in this section shall require the Commission to agree to or act upon any finding or recommendation of the forum.

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Passed the House of Representatives May 1, 2017.

Karen L. Haas,

Clerk.