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Key Votes

National Key Votes

HR 2930 - Authorizes Crowdfunding for Small Businesses - Key Vote

Ron Paul voted Yea (Passage) on this legislation.

Read recent statements Ron Paul made in this general time period.

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Legislation - Bill Passed (House) - Nov. 3, 2011 (Key vote)

Title: Authorizes Crowdfunding for Small Businesses

Vote Smart's Synopsis:

Vote to pass a bill that authorizes crowdfunding for small businesses.

Highlight: -Establishes crowdfunding exemptions for the following instances (Sec. 2):

    -Transactions involving the issuance of securities that aggregate $1 million or less annually; - If the issuer provides potential investors with audited financial statements of $2 million or less; and/or -Individual investments in the securities are limited to an aggregate annual amount equal to the lesser of $10,000 and 10 percent of the investor's annual income.
-Establishes crowdfunding exemption requirements for intermediaries and for security issuers who do not use intermediaries (Sec. 2). -Specifies that a securities issuer or intermediary may rely on certifications provided by an investor to verify the investor's income (Sec. 2). -Prohibits investors from selling securities for a 1-year period beginning on the date of purchase, unless the securities are sold to (Sec. 2):
    -The issuer of such securities; or -An accredited investor.
-Specifies that intermediaries are not required to register as a broker (Sec. 2).

See The Voting Record
Full Bill Text
Legislation - Introduced (House) - Sept. 14, 2011

Title: Authorizes Crowdfunding for Small Businesses


Full Bill Text

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