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H.R. 2201: Micro Offering Safe Harbor Act

Nov 9, 2017 at 11:22 a.m. ET. On Passage of the Bill in the House.

This was a vote to pass H.R. 2201 (115th) in the House.

H.R. 2201 amends the Securities Act of 1933 to exempt certain micro-offering from the Act’s registration requirements. This will allow small businesses to operate with confidence that they are not in violation of the law when making a non-public securities offering, so long as:

  • Each purchaser has a substantive pre-existing relationship with an officer, director, or shareholder with 10% or more of the shares of the issuer;
  • The issuer reasonably believes that there are no more than 35 purchasers of securities from the issuer that are sold in reliance on the exemption during the 12-month period preceding the transaction; and
  • The aggregate amount of all securities sold by the issuer does not exceed $500,000 over a 12-month period.

The bill also exempts these transaction from state regulation of securities offerings.

Source: Republican Policy Committee


All Votes R D
Yea 55%
Nay 45%
Not Voting

Passed. Simple Majority Required. Source:

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Republican - Yea Republican - Nay Democrat - Nay
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Notes: The Speaker’s Vote? “Aye” or “Yea”?
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Statistically Notable Votes

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