118th Congress · HOUSE BILLBILL

H.R. 2799 — Expanding Access to Capital Act of 2023

“To make reforms to the capital markets of the United States, and for other purposes.”

Finance and financial sector
Introduced Apr 24, 2023
Last action Mar 11, 2024
Pipeline · Bill → Law
Step 1
Introduced
Apr 24, 2023
Step 2
Referred
Apr 24, 2023
Financial Services · Education and Workforce · Banking, Housing, and Urban Affairs
Step 3
Committee
Apr 26, 2023
Reported out
Step 4
House floor
Mar 8, 2024
Passed House
Step 5
Senate
Mar 11, 2024
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill reduces various securities regulations for certain companies, brokers, and advisors. The bill also allows more investors to invest in specified types of ventures. DIVISION A--Strengthening Public Markets TITLE I--Remove Aberrations in the Market Cap Test for Target Company Financial Statements This title expands the information allowed to be included when calculating whether an acquisition or disposition of a subsidiary is significant for purposes of required financial disclosures by publicly traded companies. Currently, an acquisition or disposition is considered significant when the company's investment in the subsidiary is calculated to exceed 10% of the aggregate worldwide m...

Provisions · 40 sectionsEngrossed in House
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Roll Call Votes · 11
HOUSEpassageMar 8, 2024

On Passage: H R 2799 Expanding Access to Capital Act

H.R. 2799

Passed
HOUSErecommitMar 8, 2024

On Motion to Recommit: H R 2799 Expanding Access to Capital Act

H.R. 2799

Failed
HOUSEamendmentMar 8, 2024

Waters of California Part B Amendment No. 9

On Agreeing to the Amendment: Amendment 9 to H R 2799 · H.R. 2799

To require any investment adviser, private fund, or an investment company that is subject to the bill to annually and publicly disclose their investments into women-owned, minority-owned, veteran-owned, rural-domiciled, and other businesses

Failed
HOUSEamendmentMar 8, 2024

Lynch of Massachusetts Part B Amendment No. 8

On Agreeing to the Amendment: Amendment 8 to H R 2799 · H.R. 2799

To provide that the bill may take effect only when the Securities and Exchange Commission, in consultation with State securities regulators, certifies to Congress that nothing in the bill will increase fraud

Failed
HOUSEamendmentMar 8, 2024

Tlaib of Michigan Part B Amendment No. 7

On Agreeing to the Amendment: Amendment 7 to H R 2799 · H.R. 2799

To ensure that exemptions or benefits provided by the bill may only apply to companies that do not impose "junk fees" on customers

Failed
HOUSEamendmentMar 8, 2024

Houlahan of Pennsylvania Part B Amendment No. 6

On Agreeing to the Amendment: Amendment 6 to H R 2799 · H.R. 2799

To require the Advocate for Small Business Capital Formation to include in its report the effects of the failure of Silicon Valley Bank on community banks and small business lending

Failed
HOUSEamendmentMar 7, 2024

Sherman of California Part B Amendment No. 5

On Agreeing to the Amendment: Amendment 5 to H R 2799 · H.R. 2799

To allow an individual to invest not more than 5 percent of the net worth of the individual excluding the individual's primary residence in any one private offering. To limit the aggregate investment of the individual in private offerings to 25 percent of the net worth of the individual excluding the individual's primary residence

Failed
HOUSEamendmentMar 7, 2024

Wagner of Missouri Part B Amendment No. 4

On Agreeing to the Amendment: Amendment 4 to H R 2799 · H.R. 2799

To allow a closed-end investment company, an entity that invests in securities using money raised in its initial public offering, to invest its assets in securities issued by private funds

Agreed to
HOUSEamendmentMar 7, 2024

Lucas of Oklahoma Part B Amendment No. 3

On Agreeing to the Amendment: Amendment 3 to H R 2799 · H.R. 2799

To amend Federal securities laws to allow 403(b) plans to invest in collective investment trusts (CITs) and insurance contracts that currently may be invested in by comparable retirement plans, such as 401(k)s

Agreed to
HOUSEamendmentMar 7, 2024

Huizenga of Michigan Part B Amendment No. 2

On Agreeing to the Amendment: Amendment 2 to H R 2799 · H.R. 2799

To direct the Securities and Exchange Commission to promulgate rules with respect to the electronic delivery of certain required disclosures to investors

Agreed to
HOUSEamendmentMar 7, 2024

Lawler of New York Part B Amendment No. 1

On Agreeing to the Amendment: Amendment 1 to H R 2799 · H.R. 2799

To clarify the definition of "general solicitation" and "angel investor" for purposes of the federal securities laws to ensure that startups can discuss their products and business plans at certain events, known as "demo days."

Agreed to
Timeline · 51 actions
Mar 11, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 8, 2024
Considered as unfinished business.
Mar 8, 2024
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Mar 8, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Houlahan amendment No. 6.
Mar 8, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Houlahan amendment No. 6, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Houlahan demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Mar 8, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Tlaib amendment No. 7.
Mar 8, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Tlaib amendment No. 7, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Tlaib demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Mar 8, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Lynch amendment No. 8.
Mar 8, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Lynch amendment No. 8, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Mr. Lynch demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Mar 8, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 9.
Mar 8, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 9, the Chair put the question on agreeing to the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 8, 2024
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2799.
Mar 8, 2024
The previous question was ordered pursuant to the rule.
Mar 8, 2024
The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
Mar 8, 2024
Ms. Houlahan moved to recommit to the Committee on Financial Services.
Mar 8, 2024
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
Mar 8, 2024
On motion to recommit Failed by the Yeas and Nays: 205 - 213 (Roll no. 77).
Mar 8, 2024
On passage Passed by recorded vote: 212 - 205 (Roll no. 78).ROLL CALLpass
Mar 8, 2024
Motion to reconsider laid on the table Agreed to without objection.
Mar 7, 2024
Considered as unfinished business.
Mar 7, 2024
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Mar 7, 2024
Mrs. Wagner moved that the committee rise.
Mar 7, 2024
On motion that the committee rise Agreed to by voice vote.
Mar 7, 2024
Committee of the Whole House on the state of the Union rises leaving H.R. 2799 as unfinished business.
Mar 6, 2024
Considered under the provisions of rule H. Res. 1052.
Mar 6, 2024
Rule provides for consideration of H.R. 2799 and H.R. 7511. Resolution provides for consideration of H.R. 2799, under a structured rule with one hour of general debate and one motion to recommit. The resolution provides for consideration of H.R. 7511 under a closed rule with one hour of general debate and one motion to recommit.
Mar 6, 2024
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 1052 and Rule XVIII.
Mar 6, 2024
The Speaker designated the Honorable Brad R. Wenstrup to act as Chairman of the Committee.
Mar 6, 2024
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2799.
Mar 6, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Lawler amendment No. 1.
Mar 6, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Lawler amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 6, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Huizenga amendment No. 2.
Mar 6, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Huizenga amendment No. 2, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Mr. Huizenga demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 6, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Lucas amendment No. 3.
Mar 6, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Lucas amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 6, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Wagner amendment No. 4.
Mar 6, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Wagner amendment No. 4, the Chair put the question on agreeing to the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 6, 2024
DEBATE - Pursuant to the provisions of H. Res. 1052, the Committee of the Whole proceeded with 10 minutes of debate on the Sherman amendment No. 5.
Mar 6, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on the Sherman amendment No. 5, the Chair put the question on agreeing to the amendment and by voice vote, announced that the noes had prevailed. Mrs. Wagner demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
Mar 6, 2024
Mrs. Wagner moved that the committee rise.
Mar 6, 2024
On motion that the committee rise Agreed to by voice vote.
Mar 6, 2024
Committee of the Whole House on the state of the Union rises leaving H.R. 2799 as unfinished business.
Mar 5, 2024
Rules Committee Resolution H. Res. 1052 Reported to House. Rule provides for consideration of H.R. 2799 and H.R. 7511. Resolution provides for consideration of H.R. 2799, under a structured rule with one hour of general debate and one motion to recommit. The resolution provides for consideration of H.R. 7511 under a closed rule with one hour of general debate and one motion to recommit.
Jul 17, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-143, Part I.
Jul 17, 2023
Committee on Education and the Workforce discharged.
Jul 17, 2023
Placed on the Union Calendar, Calendar No. 112.
Apr 26, 2023
Committee Consideration and Mark-up Session Held.
Apr 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 21.
Apr 24, 2023
Introduced in House
Apr 24, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Apr 24, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.