H.R. 477 - Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Sponsor:
- Bill Huizenga
- Summary:
- To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies. (by CRS)
- Status:
- The bill was voted on in the House on December 7, 2017
- Amendments:
- 1 proposed amendment. 1 accepted. View amendments
PASSED on December 7, 2017.
1/2 required to pass
voted YES: 426
voted NO: 0
7 voted present/not voting
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
H.R. 477 — 115th Congress (2017–2018)
- Summary
- To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies. (by CRS)
- Learn More
- At OpenCongress
- Title
- To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies.
- Other Titles
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017
- Sponsor
- Bill Huizenga
- Co-Sponsors
- Subjects
- Finance and financial sector
- Banking and financial institutions regulation
- Business records
- Corporate finance and management
- Licensing and registrations
- Securities
- Small business
- Related Bills
- H.R. 6147 (115th) : Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
- S. 488 (115th) : JOBS and Investor Confidence Act of 2018
- S. 3518 (115th) : Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2018
- H.R. 10 (115th) : Financial CHOICE Act of 2017
- H.Res. 647 (115th) : Providing for Consideration of the Bill (H.R. 477) to Amend the Securities Exchange Act of 1934 to Exempt from Registration Brokers Performing Services in Connection with the Transfer of Ownership of Smaller Privately Held Companies; Providing for Consideration of the Bill (H.R. 3971) to Amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to Modify the Requirements for Community Financial Institutions with Respect to Certain Rules Relating to Mortgage Loans, and for Other Purposes; and Providing for Consideration of the Joint Resolution (H.J. Res. 123) Making Further Continuing Appropriations for Fiscal Year 2018, and for Other Purposes.
- Major Actions
Introduced 1/12/2017 Referred to Committee Amendments (1 proposed) Passed House 12/07/2017 - Bill History
-
Chamber/Committee Motion Date Result currently selected House On Passage: H R 477 Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 12/07/2017 This bill PASSED the House 426 voted YES 0 voted NO 7 voted present/not votingselect this vote House On agreeing to the Sherman amendment (A002) Agreed to by voice vote. 12/07/2017 by voice vote Action Date Description Introduced 1/12/2017 1/12/2017 Introduced in House 1/12/2017 Referred to the House Committee on Financial Services. 10/11/2017 Committee Consideration and Mark-up Session Held. 10/12/2017 Committee Consideration and Mark-up Session Held. Put on a legislative calendar 10/12/2017 Ordered to be Reported by the Yeas and Nays: 37 - 23. 11/30/2017 Reported by the Committee on Financial Services. H. Rept. 115-431. Put on a legislative calendar 11/30/2017 Placed on the Union Calendar, Calendar No. 318. 12/06/2017 Rules Committee Resolution H. Res. 647 Reported to House. Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion 12/07/2017 12/07/2017 House amendment offered 12/07/2017 12/07/2017 House amendment offered 12/07/2017 Considered under the provisions of rule H. Res. 647. 12/07/2017 Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion 12/07/2017 DEBATE - The House proceeded with one hour of debate on H.R. 477. 12/07/2017 DEBATE - Pursuant to the provisions of H.Res. 647, the House proceeded with 10 minutes of debate on the Sherman amendment No. 1. 12/07/2017 POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 477, the Chair put the question on passage of the bill, and announced by voice vote that the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until later in the legislative day. 12/07/2017 Considered as unfinished business. 12/07/2017 Motion to reconsider laid on the table Agreed to without objection. currently selected House Vote on Passage 12/07/2017 On Passage: H R 477 Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 12/07/2017 Amendment (A002) offered by Mr. Sherman. 12/07/2017 House amendment offered/reported by: Amendment (A002) offered by Mr. Sherman. 12/07/2017 The previous question was ordered on the amendment and the bill without objection select this vote Vote 12/07/2017 On agreeing to the Sherman amendment (A002) Agreed to by voice vote. 12/07/2017 Amendment agreed to by House: On agreeing to the Sherman amendment (A002) Agreed to by voice vote. 12/07/2017 House amendment agreed to: On agreeing to the Sherman amendment (A002) Agreed to by voice vote. 12/11/2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Number Sponsor Date Offered Status select this vote H. Amdt. 495 Sherman, Brad [D-CA30] December 7, 2017 Passed by voice vote on December 7, 2017. An amendment numbered 1 printed in Part A of House Report 115-443 to make several changes that provide additional protections for investors and small businesses. Specifically the amendment includes provisions that would prohibit passive buyers in the M&A transaction, prohibit M&A brokers from binding a party to a transfer of ownership, prohibit M&A brokers from providing financing for the transfer, and require M&A brokers that represent both the buyer and seller to disclose that to both parties and receive written consent.
Average contributions given to House members from interest groups that…
support this bill
Security brokers & investment companies |
Financial services & consulting |
Small business associations |
Chambers of commerce |
Public official (elected or appointed) |
oppose this bill
Democratic/Liberal |
Consumer groups |
Contributions data source: OpenSecrets.org