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H.R. 1312 - Small Business Capital Formation Enhancement Act
Introduced: 2017-05-02
Bill Status: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
 

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.

Full Text


115th CONGRESS
1st Session
H. R. 1312


IN THE SENATE OF THE UNITED STATES

May 2, 2017

    Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs


AN ACT

    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,

SECTION 1. Short title.

This Act may be cited as the “Small Business Capital Formation Enhancement Act”.

SEC. 2. Annual review of government-business forum on capital formation.

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:

“(e) The Commission shall—

“(1) review the findings and recommendations of the forum; and

“(2) each time the forum submits a finding or recommendation to the Commission, promptly issue a public statement—

“(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,   
    Clerk

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