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S. 3976: Expanding American Entrepreneurship Act


The text of the bill below is as of Mar 31, 2022 (Introduced).


II

117th CONGRESS

2d Session

S. 3976

IN THE SENATE OF THE UNITED STATES

March 31, 2022

(for himself and Mr. Scott of South Carolina) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Investment Company Act of 1940 to address entities that are not considered to be investment companies for the purposes of that Act, and for other purposes.

1.

Short title

This Act may be cited as the Expanding American Entrepreneurship Act.

2.

Investment companies

Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—

(1)

in the matter preceding subparagraph (A), in the first sentence, by striking 250 persons and inserting 500 persons; and

(2)

in subparagraph (C)(i), by striking $10,000,000 and inserting $50,000,000.