This week, the House will consider 9 bills, ranging from veterans compensation to financial services. This includes Rep. Himes’ bill, H.R. 1965, which would make it easier for community banks to raise capital.
Legislation under consideration this week includes:
Wireless Tax Fairness Act of 2011 (H.R. 1002): prohibits state or local governments from imposing new taxes on mobile services, mobile service providers, or mobile service property (such as cell phones) for the next five years.
H.Con.Res 13: reaffirms “In God We Trust” as the official motto of the United States and encourages public buildings, including schools and other institutions, to display this motto publically.
Kate Puzey Peace Corps Volunteer Protection Act of 2011 (S. 1280): amends the Peace Corps Act to require the Director of the Peace Corps to develop and implement comprehensive sexual assault risk-reduction and response training for all Peace Corps volunteers tailored to the country in which the volunteer is serving.
Civilian Service Recognition Act of 2011 (H.R. 2061): authorizes the head of an executive agency to pay the expenses for the presentation of an American flag for an agency employee who has died of injuries incurred in connection with his or her employment, and to furnish a flag upon the request of the employee’s next of kin.
Small Company Capital Formation Act of 2011 (H.R. 1070): amends the Securities Act of 1933 to direct the Securities and Exchange Commission to exempt from regulations a class of securities for which the offering amount is between $5 million and $50 million. Authorizes the SEC to require these exempted issuers to make periodic disclosures to its investors regarding its business operations, financial condition, and use of investor funds.
H.R. 1965: a bill authored by Himes that amends the Securities Exchange Act of 1934 to raise the number of shareholders permitted to invest in an institution before that entity must register with the SEC or “go public” from 500 to 2,000. This will give small companies and community banks the flexibility to remain private until they have the capital and capability to launch a successful IPO and comply with the expensive reporting requirements associated with SEC registration.
The Veterans Compensation Cost-of-Living Adjustment Act of 2011 (S. 894): directs the Security of Veterans Affairs to increase the rates of veterans’ disability ccompensation, additional cocmpensation for depemdents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children by the same percentage as the increase in benefits provided under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act.
Access to Capital for Job Creators Act (H.R. 2940): directs the Securities and Exchange Commission (SEC) to revise rules governing an exemption from public offering requirements for limited offers and sales without regard to the dollar amount of the offering (Regulation D), so as to provide that a specified prohibition against general solicitation or general advertising does not apply to offers and sales of securities made pursuant to Regulation D if all purchasers of the securities are accredited investors.
Entrepreneur Access to Capital Act (H.R. 2930): amends the Securities Act of 1933 to exempt certain transactions involving the issuance of crowdfunded securities from prohibitions against the use of interstate commerce and the mails for sale or delivery after sale of unregistered securities. These exempted transactions must have an annual amount of $5 million or less and individual investments of $10,000 or less.