About the bill
In 1988, the SEC adopted Rule 701 under the Securities Act to allow private companies to sell securities to their employees without the need to file a registration statement with the SEC. The rule provides an exemption from the registration requirements for offers and sales of securities under certain compensatory benefit plans or written agreements relating to compensation. In October 1996, Congress enacted the National Securities Markets Improvement Act of 1996, which gave the SEC authority to provide exemptive relief for certain transactions relating to the rule. The rule was last amended in April 1999.
Under current law, companies must disclose certain information to investors if the value of securities issued by the company exceeds $5 million in a 12-month period. H.R. 1343 would direct the SEC to raise that …
Sponsor and status
Sponsor. Representative for Illinois's 14th congressional district. Republican.
Last Updated: Apr 5, 2017
Length: 2 pages
115th Congress (2017–2019)
This bill was introduced in a previous session of Congress and was passed by the House on April 4, 2017 but was never passed by the Senate.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
7 Cosponsors (4 Democrats, 3 Republicans)
What legislators are saying
“House Passes Hultgren Bill to Expand Company Ownership for Hardworking Employees”
— Rep. Randy Hultgren [R-IL14, 2011-2018] (Sponsor) on Apr 4, 2017
H.R. 1343 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 1343. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
GovTrack.us. (2022). H.R. 1343 — 115th Congress: Encouraging Employee Ownership Act of 2017. Retrieved from https://www.govtrack.us/congress/bills/115/hr1343
“H.R. 1343 — 115th Congress: Encouraging Employee Ownership Act of 2017.” www.GovTrack.us. 2017. August 8, 2022 <https://www.govtrack.us/congress/bills/115/hr1343>
Encouraging Employee Ownership Act of 2017, H.R. 1343, 115th Cong..
|title=H.R. 1343 (115th)
|accessdate=August 8, 2022
|author=115th Congress (2017)
|date=March 2, 2017
|quote=Encouraging Employee Ownership Act of 2017
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.