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Small Business Capital Formation Enhancement Act
(Sec. 2) This bill amends the Small Business Investment Incentive Act of 1980 with respect to the annual government-business forum of the Securities and Exchange Commission (SEC) to review the current status of problems and programs relating to small business capital formation.
The SEC shall review the forum's findings and recommendations and issue a public statement promptly assessing each submitted finding or recommendation and disclosing any action the SEC intends to take on it.
Nothing in this bill shall require the SEC to agree to or act upon any finding or recommendation.
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Small Business Capital Formation Enhancement Act”.
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:
“(1) review the findings and recommendations of the forum; and
“(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.”.
Passed the House of Representatives May 1, 2017.
|Attest:||karen l. haas,|