H.R. 1312 – Reading Mode

IIB

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.

Short title

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

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.

Karen L. Haas,

Clerk