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Key Votes

HR 2201 - Micro Offering Safe Harbor Act - National Key Vote

Gary Palmer voted Yea (Passage) on this Legislation.

Read statements Gary Palmer made in this general time period.

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Issues Related to HR 2201

Stage Details

Legislation - Bill Passed (House) (23-188) - (Key vote)
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Title: Micro Offering Safe Harbor Act

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that exempts certain micro-offerings from the registration requirements of the Securities Act of 1933.

Highlights:
  • Amends section 4 of the Securities Act of 1933 to exempt certain micro-offerings from (Sec. 2):

    • State regulation of the sale of securities; and

    • Federal prohibitions on interstate securities sales.

  • Specifies that the exempted micro-offerings must meet all of the following requirements (Sec. 2):

    • The purchaser has a substantive pre-existing relationship with the issuer;

    • There are no more than 35 purchasers relying on the exemption during the 12-month period preceding the transaction; and

    • The amount of all securities sold by the issuer during the 12-month period preceding the transaction does not exceed $500,000.

  • Specifies that this exemption applies not only to an issuer, but also to all entities controlled by, or under common control with, the issuer (Sec. 2).

Legislation - Introduced (House) -

Title: Micro Offering Safe Harbor Act

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