. Amdt. -

Access to Capital for Job Creators Act

H.R. 2940 — 112^th Congress (2011–2012)

Summary

To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D. (by CRS)

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Title

To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D.

Other Titles

• Access to Capital for Job Creators Act
• Access to Capital for Job Creators Act
• Access to Capital for Job Creators Act

Sponsor

Kevin McCarthy

Co-Sponsors

• Robert J. Dold
• Nan A. S. Hayworth

Subjects

• Finance and financial sector
• Administrative law and regulatory procedures
• Financial services and investments
• Marketing and advertising
• Securities
• Securities and Exchange Commission (SEC)

Related Bills

• H.Res. 453 (112^th) : Providing for Consideration of the Bill (H.R. 2930) to Amend the Securities Laws to Provide for Registration Exemptions for Certain Crowdfunded Securities, and for Other Purposes, and Providing for Consideration of the Bill (H.R. 2940) to Direct the Securities and Exchange Commission to Eliminate the Prohibition Against General Solicitation As a Requirement for a Certain Exemption Under Regulation D.
• S. 1831 (112^th) : Access to Capital for Job Creators Act

Major Actions

Introduced	9/15/2011
Referred to Committee
Amendments (1 proposed)
Passed House	11/03/2011

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
currently selected	House	On Agreeing to the Amendment: Amendment 1 to H R 2940	11/03/2011	This amendment DID NOT PASS the House 190 voted YES 234 voted NO 10 voted present/not voting
select this vote	House	On Motion to Recommit with Instructions: H R 2940 To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D	11/03/2011	This motion DID NOT PASS the House 190 voted YES 236 voted NO 8 voted present/not voting
select this vote	House	H.R. 2940 (112th): Access to Capital for Job Creators Act	11/03/2011	This bill PASSED the House 413 voted YES 11 voted NO 10 voted present/not voting

	Action	Date	Description
	Introduced	9/15/2011
		9/15/2011	Referred to the House Committee on Financial Services.
		9/21/2011	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
		10/04/2011	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
		10/05/2011	Subcommittee Consideration and Mark-up Session Held.
		10/05/2011	Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
		10/26/2011	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	10/26/2011	Ordered to be Reported by Voice Vote.
		10/31/2011	Reported (Amended) by the Committee on Financial Services. H. Rept. 112-263.
	Put on a legislative calendar	10/31/2011	Placed on the Union Calendar, Calendar No. 176.
		11/02/2011	Rules Committee Resolution H. Res. 453 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
		11/03/2011	Rule H. Res. 453 passed House.
		11/03/2011	Considered under the provisions of rule H. Res. 453.
		11/03/2011	Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The resolution provides that the amendments in the nature of a substitute recommended by the Committee on Financial Services now printed in each of the bills are considered adopted. The bills, as amended, are considered read. Specified amendments are in order.
		11/03/2011	DEBATE - The House proceeded with one hour of debate on H.R. 2940.
		11/03/2011	DEBATE - Pursuant to the provisions of H. Res. 453, the House proceeded with 10 minutes of debate on the Miller (NC) Part B amendment.
		11/03/2011	POSTPONED PROCEEDINGS - At the conclusion of debate on the Miller (NC) amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Mr. Miller (NC) demanded a recored vote and the Chair postponed further proceedings on the amendment under clause 8(a)(1)(A) of rule XX.
		11/03/2011	Considered as unfinished business.
		11/03/2011	Mr. DeFazio moved to recommit with instructions to Financial Services.
		11/03/2011	DEBATE - The House proceeded with 10 minutes of debate on the DeFazio motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to prohibit those who have been convicted of fraud in connection with a financial transaction.
		11/03/2011	The previous question on the motion to recommit with instructions was ordered without objection.
		11/03/2011	The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2940.
		11/03/2011	The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2930.
		11/03/2011	Motion to reconsider laid on the table Agreed to without objection.
currently selected	Vote	11/03/2011	On Agreeing to the Amendment: Amendment 1 to H R 2940
select this vote	Vote	11/03/2011	On Motion to Recommit with Instructions: H R 2940 To direct the Securities and Exchange Commission to eliminate the prohibition against general solicitation as a requirement for a certain exemption under Regulation D
select this vote	House Vote on Passage	11/03/2011	H.R. 2940 (112th): Access to Capital for Job Creators Act
		11/03/2011	Amendment (A002) offered by Mr. Miller (NC).
		11/07/2011	Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
	Put on a legislative calendar	11/08/2011	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 225.

	Number	Sponsor	Date Offered	Status
	H. Amdt. 849	Miller, R. [D-NC13]	November 3, 2011	Failed by voice vote on November 3, 2011.
	Amendment sought to require a disclosure that if there are going to be unregulated solicitations or advertisements seeking investments in certain companies, the advertisement or solicitation must disclose the existence of any compensation agreement or "golden parachute" severance package for executives that might result in redirection of any profits. Show amendment details