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S. 1831 - Access to Capital for Job Creators Act

Finance and financial sector. 112th Congress (2011-2012) View bill details
Sponsor:
Summary:
A bill 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) 
Status:
The bill has been introduced. 
There have been no votes on this bill.

Access to Capital for Job Creators Act

S. 1831 — 112th Congress (2011–2012)

Summary
A bill 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)
Learn More
At OpenCongress
Title
A bill 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
Sponsor
John Thune
Co-Sponsors
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
Major Actions
Introduced11/09/2011
Referred to Committee
Bill History

There have been no votes on this bill.

ActionDateDescription
Introduced11/09/2011
11/09/2011Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
12/01/2011Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-444.
12/14/2011Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance and Investment. Hearings held. With printed Hearing: S.Hrg. 112-465.
NumberSponsorDate OfferedStatus
scale for bar graph of contributions

Contributions

  1. January - February 2007 For $181,590 Against $20,250
  2. March - April 2007 For $638,850 Against $43,350
  3. May - June 2007 For $700,371 Against $62,800
  4. July - August 2007 For $258,558 Against $46,175
  5. September - October 2007 For $664,776 Against $21,200
  6. November - December 2007 For $757,299 Against $114,500
  7. January - February 2008 For $302,260 Against $49,100
  8. March - April 2008 For $541,404 Against $87,600
  9. May - June 2008 For $760,804 Against $206,750
  10. July - August 2008 For $439,143 Against $48,865
  11. September - October 2008 For $874,527 Against $241,543
  12. November - December 2008 For $202,029 Against $25,750
  13. January - February 2009 For $278,020 Against $35,750
  14. March - April 2009 For $600,100 Against $34,300
  15. May - June 2009 For $837,546 Against $59,150
  16. July - August 2009 For $395,370 Against $13,150
  17. September - October 2009 For $836,882 Against $29,800
  18. November - December 2009 For $985,395 Against $35,150
  19. January - February 2010 For $714,297 Against $30,400
  20. March - April 2010 For $1,492,461 Against $57,275
  21. May - June 2010 For $1,145,619 Against $81,450
  22. July - August 2010 For $632,051 Against $86,502
  23. September - October 2010 For $1,607,431 Against $123,784
  24. November - December 2010 For $296,720 Against $14,200
  25. January - February 2011 For $401,680 Against $18,200
  26. March - April 2011 For $852,626 Against $51,450
  27. May - June 2011 For $835,229 Against $61,850
  28. July - August 2011 For $356,253 Against $19,150
  29. September - October 2011 For $614,511 Against $42,600
  30. November - December 2011 For $601,725 Against $166,220
  31. January - February 2012 For $409,733 Against $24,375
  32. March - April 2012 For $596,955 Against $43,050
  33. May - June 2012 For $799,062 Against $100,475
  34. July - August 2012 For $430,617 Against $50,750
  35. September - October 2012 For $1,016,889 Against $70,650
  36. November - December 2012 For $238,695 Against $17,250

Votes

    7 Organizations Supported and 11 Opposed; See Which Ones
    7 Organizations Supported and 11 Opposed; See Which Ones

    Organizations that took a position on
    Access to Capital for Job Creators Act

    7 organizations supported this bill

    Biotechnology Industry Organization
    Biotechnology Industry Organization (2011, December 1). Spurring Job Growth Through Capital Formation While Protecting Investors. Retrieved June 6, 2012, from Biotechnology Industry Organization.
    Financial Services Forum
    Nichols, Robert S. (2011, October 4). 365 Support Letter. Retrieved June 6, 2012, from Financial Services Forum.
    Gate Technologies
    Molinari, Vincent R. (2011, September 21). Written Testimony of Vincent R. Molinari Chief Executive Officer, GATE Technologies, LLC. Retrieved June 6, 2012, from House Financial Services Committee.
    National Small Business Association
    National Small Business Association (2012, February 8). Letter to the Senate Regarding Capital Access. Retrieved June 6, 2012, from National Small Business Association.
    Small Business & Entrepreneurship Council
    Karen Kerrigan, President & CEO (2011, September 21). H.R. 2940, Access to Capital for Job Creators. Retrieved November 3, 2011, from SBE Council.
    Stapleton Business Brokers
    Stapleton Business Brokers (2011, November 21). H.R. 2930 AND 2940 STALLED IN THE SENATE. Retrieved June 6, 2012, from Stapleton Business Brokers.
    U.S. Chamber of Commerce
    R. Bruce Josten (2011, September 20). Letter to Chairman Garrett and Ranking Member Waters. Retrieved November 3, 2011, from US Chamber of Commerce.

    11 organizations opposed this bill

    AARP
    Rogers, Joyce A. (2012, February 7). RE: Investor Protection, Market Integrity and Small Business Capital Formation. Retrieved June 6, 2012, from Americans for Financial Reform.
    AFL-CIO
    William Samuel (2012, February 29). Legislative Alert!. Retrieved March 22, 2012, from AFL CIO.
    American Federation of State, County and Municipal Employees
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.
    Americans for Financial Reform
    Consumer Federation of America & Americans for Financial Reform (2012, March 5). CFA and AFR Urge No Vote on Anti-Investor JOBS Act. Retrieved June 6, 2012, from Consumer Federation of America.
    Consumer Action
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.
    Consumer Federation of America
    Consumer Federation of America & Americans for Financial Reform (2012, March 5). CFA and AFR Urge No Vote on Anti-Investor JOBS Act. Retrieved June 6, 2012, from Consumer Federation of America.
    Main Street Alliance
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.
    National Association of Consumer Advocates
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.
    National Education Association
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.
    North American Securities Administrators Association
    Jack E. Herstein, NASAA President (2011, September 27). RE: H.R. 2930 ‐ “Entrepreneur Access to Capital Act of 2011”. Retrieved November 3, 2011, from NASAA.
    U.S. PIRG
    Undersigned Organizations (2012, March 5). Public Interest Groups Oppose Anti-Investor “Capital Formation” Bills. Retrieved June 6, 2012, from Consumer Federation of America.

    Need proof?

    View citations of support and opposition

    Includes reported contributions to congressional campaigns of Senators in office during the 112th U.S. Congress, from interest groups invested in the vote according to MapLight, January 1, 2007 – December 31, 2012.
    Contributions data source: OpenSecrets.org

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    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Supported    		$ From Interest Groups
    That Opposed
    Daniel K. AkakaDHI$2,000$5,000
    Andrew Lamar AlexanderRTN$174,116$0
    Kelly AyotteRNH$188,518$200
    John BarrassoRWY$99,150$1,000
    Max BaucusDMT$360,400$44,450
    Mark BegichDAK$90,562$64,050
    Michael F. BennetDCO$541,150$57,550
    Jesse "Jeff" BingamanDNM$4,500$1,000
    Richard BlumenthalDCT$310,972$40,000
    Roy BluntRMO$483,529$4,600
    John BoozmanRAR$71,005$500
    Barbara BoxerDCA$246,585$50,850
    Scott P. BrownRMA$1,412,731$3,150
    Sherrod BrownDOH$191,820$74,095
    Richard BurrRNC$309,257$747
    Maria CantwellDWA$140,075$3,400
    Ben CardinDMD$203,933$44,500
    Tom CarperDDE$166,650$14,600
    Bob CaseyDPA$279,075$67,350
    Clarence Saxby ChamblissRGA$237,900$4,000
    Daniel CoatsRIN$111,449$0
    Tom CoburnROK$47,750$0
    William Thad CochranRMS$4,500$0
    Susan M. CollinsRME$217,816$2,000
    Gaylord Kent ConradDND$38,900$1,000
    Christopher A. CoonsDDE$67,650$42,150
    Bob CorkerRTN$541,410$0
    John CornynRTX$411,295$23,625
    Mike CrapoRID$227,335$1,000
    Jim DeMintRSC$142,533$0
    Dick DurbinDIL$280,725$57,275
    Mike EnziRWY$114,784$1,000
    Dianne FeinsteinDCA$182,950$27,000
    Al FrankenDMN$303,362$71,487
    Kirsten E. GillibrandDNY$1,500,910$111,800
    Lindsey GrahamRSC$131,492$0
    Chuck GrassleyRIA$146,100$2,500
    Kay R. HaganDNC$239,694$51,356
    Tom HarkinDIA$149,900$29,750
    Orrin G. HatchRUT$441,750$1,000
    Dean HellerRNV$229,719$500
    John HoevenRND$75,050$5,000
    Kay Bailey HutchisonRTX$28,950$0
    Jim InhofeROK$22,750$0
    Dan InouyeDHI$48,950$25,000
    Johnny IsaksonRGA$141,650$0
    Mike JohannsRNE$60,731$0
    Ron JohnsonRWI$165,919$0
    Tim JohnsonDSD$237,800$47,950
    John F. KerryDMA$198,300$30,250
    Mark KirkRIL$819,642$14,250
    Amy KlobucharDMN$132,283$33,650
    Herb KohlDWI$0$0
    Jon KylRAZ$19,900$0
    Mary L. LandrieuDLA$166,100$24,540
    Frank R. LautenbergDNJ$277,311$38,100
    Patrick J. LeahyDVT$38,400$28,500
    Mike LeeRUT$25,366$0
    Carl LevinDMI$77,690$34,000
    Joe LiebermanICT$9,800$0
    Dick LugarRIN$92,100$0
    Joe Manchin, IIIDWV$105,300$66,150
    John McCainRAZ$215,600$0
    Claire McCaskillDMO$258,516$52,950
    Addison "Mitch" McConnellRKY$799,146$3,250
    Bob MenéndezDNJ$377,708$42,750
    Jeff MerkleyDOR$167,297$50,250
    Barbara A. MikulskiDMD$99,999$39,900
    Jerry MoranRKS$75,800$5,000
    Lisa MurkowskiRAK$50,250$8,500
    Patty MurrayDWA$170,449$62,384
    Earl "Ben" NelsonDNE$46,900$18,000
    Clarence "Bill" NelsonDFL$197,365$47,250
    Rand PaulRKY$71,742$3,500
    Rob PortmanROH$514,031$2,750
    Mark L. PryorDAR$110,800$30,500
    John "Jack" ReedDRI$198,600$33,900
    Harry ReidDNV$525,053$57,455
    Jim RischRID$32,550$0
    Charles "Pat" RobertsRKS$172,900$1,000
    John "Jay" RockefellerDWV$119,500$41,000
    Marco RubioRFL$345,061$500
    Bernie SandersIVT$9,850$38,925
    Chuck SchumerDNY$1,214,815$42,250
    Jeff SessionsRAL$67,300$8,150
    Jeanne ShaheenDNH$185,433$54,250
    Richard C. ShelbyRAL$343,900$4,225
    Olympia J. SnoweRME$74,990$6,000
    Debbie StabenowDMI$273,557$54,200
    Jon TesterDMT$288,353$54,750
    John ThuneRSD$233,158$0
    Patrick J. ToomeyRPA$567,000$1,000
    Mark UdallDCO$225,677$61,050
    Tom UdallDNM$168,176$54,500
    David VitterRLA$116,850$0
    Mark R. WarnerDVA$613,210$39,100
    Jim WebbDVA$7,670$2,000
    Sheldon WhitehouseDRI$193,799$37,200
    Roger F. WickerRMS$126,750$0
    Ron WydenDOR$247,779$24,500

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    		NamePartyState$ From Interest Groups
    That Supported    		$ From Interest Groups
    That Opposed
    		Daniel K. AkakaDHI$2,000$5,000
    		Andrew Lamar AlexanderRTN$174,116$0
    		Kelly AyotteRNH$188,518$200
    		John BarrassoRWY$99,150$1,000
    		Max BaucusDMT$360,400$44,450
    		Mark BegichDAK$90,562$64,050
    		Michael F. BennetDCO$541,150$57,550
    		Jesse "Jeff" BingamanDNM$4,500$1,000
    		Richard BlumenthalDCT$310,972$40,000
    		Roy BluntRMO$483,529$4,600
    		John BoozmanRAR$71,005$500
    		Barbara BoxerDCA$246,585$50,850
    		Scott P. BrownRMA$1,412,731$3,150
    		Sherrod BrownDOH$191,820$74,095
    		Richard BurrRNC$309,257$747
    		Maria CantwellDWA$140,075$3,400
    		Ben CardinDMD$203,933$44,500
    		Tom CarperDDE$166,650$14,600
    		Bob CaseyDPA$279,075$67,350
    		Clarence Saxby ChamblissRGA$237,900$4,000
    		Daniel CoatsRIN$111,449$0
    		Tom CoburnROK$47,750$0
    		William Thad CochranRMS$4,500$0
    		Susan M. CollinsRME$217,816$2,000
    		Gaylord Kent ConradDND$38,900$1,000
    		Christopher A. CoonsDDE$67,650$42,150
    		Bob CorkerRTN$541,410$0
    		John CornynRTX$411,295$23,625
    		Mike CrapoRID$227,335$1,000
    		Jim DeMintRSC$142,533$0
    		Dick DurbinDIL$280,725$57,275
    		Mike EnziRWY$114,784$1,000
    		Dianne FeinsteinDCA$182,950$27,000
    		Al FrankenDMN$303,362$71,487
    		Kirsten E. GillibrandDNY$1,500,910$111,800
    		Lindsey GrahamRSC$131,492$0
    		Chuck GrassleyRIA$146,100$2,500
    		Kay R. HaganDNC$239,694$51,356
    		Tom HarkinDIA$149,900$29,750
    		Orrin G. HatchRUT$441,750$1,000
    		Dean HellerRNV$229,719$500
    		John HoevenRND$75,050$5,000
    		Kay Bailey HutchisonRTX$28,950$0
    		Jim InhofeROK$22,750$0
    		Dan InouyeDHI$48,950$25,000
    		Johnny IsaksonRGA$141,650$0
    		Mike JohannsRNE$60,731$0
    		Ron JohnsonRWI$165,919$0
    		Tim JohnsonDSD$237,800$47,950
    		John F. KerryDMA$198,300$30,250
    		Mark KirkRIL$819,642$14,250
    		Amy KlobucharDMN$132,283$33,650
    		Herb KohlDWI$0$0
    		Jon KylRAZ$19,900$0
    		Mary L. LandrieuDLA$166,100$24,540
    		Frank R. LautenbergDNJ$277,311$38,100
    		Patrick J. LeahyDVT$38,400$28,500
    		Mike LeeRUT$25,366$0
    		Carl LevinDMI$77,690$34,000
    		Joe LiebermanICT$9,800$0
    		Dick LugarRIN$92,100$0
    		Joe Manchin, IIIDWV$105,300$66,150
    		John McCainRAZ$215,600$0
    		Claire McCaskillDMO$258,516$52,950
    		Addison "Mitch" McConnellRKY$799,146$3,250
    		Bob MenéndezDNJ$377,708$42,750
    		Jeff MerkleyDOR$167,297$50,250
    		Barbara A. MikulskiDMD$99,999$39,900
    		Jerry MoranRKS$75,800$5,000
    		Lisa MurkowskiRAK$50,250$8,500
    		Patty MurrayDWA$170,449$62,384
    		Earl "Ben" NelsonDNE$46,900$18,000
    		Clarence "Bill" NelsonDFL$197,365$47,250
    		Rand PaulRKY$71,742$3,500
    		Rob PortmanROH$514,031$2,750
    		Mark L. PryorDAR$110,800$30,500
    		John "Jack" ReedDRI$198,600$33,900
    		Harry ReidDNV$525,053$57,455
    		Jim RischRID$32,550$0
    		Charles "Pat" RobertsRKS$172,900$1,000
    		John "Jay" RockefellerDWV$119,500$41,000
    		Marco RubioRFL$345,061$500
    		Bernie SandersIVT$9,850$38,925
    		Chuck SchumerDNY$1,214,815$42,250
    		Jeff SessionsRAL$67,300$8,150
    		Jeanne ShaheenDNH$185,433$54,250
    		Richard C. ShelbyRAL$343,900$4,225
    		Olympia J. SnoweRME$74,990$6,000
    		Debbie StabenowDMI$273,557$54,200
    		Jon TesterDMT$288,353$54,750
    		John ThuneRSD$233,158$0
    		Patrick J. ToomeyRPA$567,000$1,000
    		Mark UdallDCO$225,677$61,050
    		Tom UdallDNM$168,176$54,500
    		David VitterRLA$116,850$0
    		Mark R. WarnerDVA$613,210$39,100
    		Jim WebbDVA$7,670$2,000
    		Sheldon WhitehouseDRI$193,799$37,200
    		Roger F. WickerRMS$126,750$0
    		Ron WydenDOR$247,779$24,500

    Interest Groups that supported this bill

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    		$ Donated
    		Security brokers & investment companies$20,048,944
    		Biotech products & research$1,508,779
    		Financial services & consulting$1,406,926
    		Small business associations$364,949
    		Chambers of commerce$274,854
    		Fiscal & tax policy$57,975

    Interest Groups that opposed this bill

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    		$ Donated
    		Teachers unions$1,043,750
    		State & local govt employee unions$511,320
    		Small business associations$364,949
    		Labor Unions$293,200
    		Elderly issues/Social Security$239,532
    		Public official (elected or appointed)$141,862
    		Consumer groups$5,150
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