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Key Votes

HR 2930 - Authorizes Crowdfunding for Small Businesses - Key Vote

National Key Votes

Chris Van Hollen, Jr. voted Yea (Passage) on this Legislation.

Read statements Chris Van Hollen, Jr. made in this general time period.

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Stage Details

Legislation - Bill Passed (House) (407-17) - (Key vote)

Title: Authorizes Crowdfunding for Small Businesses

Vote Smart's Synopsis:

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

Highlights:
  • 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; or
    • When individual investments in the securities are less than $10,000 per year or 10 percent of the investor's annual income, whichever amount is smaller.
  • 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).
Legislation - Introduced (House) -

Title: Authorizes Crowdfunding for Small Businesses

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