IN THE SENATE OF THE UNITED STATES
March 31, 2022
Mr. Moran (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
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.
This Act may be cited as the
Expanding American Entrepreneurship Act.
Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—
in the matter preceding subparagraph (A), in the first sentence, by striking
250 persons and inserting
500 persons; and
in subparagraph (C)(i), by striking
$10,000,000 and inserting