H.R. 2790

Improving Capital Allocation for Newcomers Act of 2021

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I

118th CONGRESS

1st Session

H. R. 2790

IN THE HOUSE OF REPRESENTATIVES

April 20, 2023

Mr. Timmons introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Investment Company Act of 1940 with respect to the definition of qualifying venture capital funds, and for other purposes.

1.

Short title

This Act may be cited as the Improving Capital Allocation for Newcomers Act of 2021.

2.

Qualifying venture capital funds

Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended—

(1)

in the matter preceding subparagraph (A), by striking 250 persons and inserting 2,000 persons; and

(2)

in subparagraph (C)(i), by striking $10,000,000 and inserting $150,000,000.