House Financial Services Committee Issues Report on Small Business Access to Capital After Natural Disaster Act
Excerpts of the report follow:
Purpose and Summary
On
Background and Need for Legislation
In the 114th
Help small businesses resolve problems with the
Analyze the potential impact of proposed rules and regulations that are likely to have a significant effect on small businesses; and
Reach out to small businesses to understand issues related to capital formation.
The Advisory Committee provides advice to the Commission on rules and policies related to capital formulation, securities trading, and reporting and governance requirements for emerging and smaller public companies.
Prior to the enactment of H.R. 3874, the responsibility to facilitate and promote capital formation resided within the
Unfortunately, the OSBP is a functional office rather than an advocacy office. The OSBP does not advocate for changes to the securities laws for smaller public companies, small businesses seeking equity capital, or investors in those companies or businesses. The OSBP does not advance initiatives to make equity capital more readily available to smaller issuers. Rather than neglecting the needs of small businesses, a permanent office dedicated to small business capital formation within the
A major purpose of the Forum is to identify unnecessary impediments to small business capital formation and find ways to eliminate or reduce them.
At a
On
Even though the
Recent natural disasters, such as Hurricane Harvey in
According to the
One of the
H.R. 4792 reminds the
Hearings
Committee Consideration
Committee Votes
Clause 3(b) of rule XIII of the Rules of the
[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]
Committee Oversight Findings
Pursuant to clause 3(c)(1) of rule XIII of the Rules of the
Performance Goals and Objectives
Pursuant to clause 3(c)(4) of rule XIII of the Rules of the
In compliance with clause 3(c)(2) of rule XIII of the Rules of the
Congressional Budget Office Estimates
Pursuant to clause 3(c)(3) of rule XIII of the Rules of the
U.S.
Hon.
Chairman,
Dear Mr. Chairman: The
If you wish further details on this estimate, we will be pleased to provide them. The CBO staff contact is
Sincerely,
Director.
Enclosure.
H.R. 4792--Small Business Access to Capital After a Natural Disaster Act
H.R. 4792 would expand the functions of the
Using information from the
Enacting H.R. 4792 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
CBO estimates that enacting H.R. 4792 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
H.R. 4792 contains no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA).
If the
The CBO staff contacts for this estimate are
Federal Mandates Statement
This information is provided in accordance with section 423 of the Unfunded Mandates Reform Act of 1995.
The Committee has determined that the bill does not contain Federal mandates on the private sector. The Committee has determined that the bill does not impose a Federal intergovernmental mandate on State, local, or tribal governments.
Advisory Committee Statement
No advisory committees within the meaning of section 5(b) of the Federal Advisory Committee Act were created by this legislation.
Applicability to Legislative Branch
The Committee finds that the legislation does not relate to the terms and conditions of employment or access to public services or accommodations within the meaning of the section 102(b)(3) of the Congressional Accountability Act.
Earmark Identification
With respect to clause 9 of rule XXI of the Rules of the
Duplication of Federal Programs
In compliance with clause 3(c)(5) of rule XIII of the Rules of the
Disclosure of Directed Rulemaking
Pursuant to section 3(i) of
Section-by-Section Analysis of the Legislation
Section 1. Short title
This section cites H.R. 4792 as the "Small Business Access to Capital After a Natural Disaster Act".
Section 2. Access to capital for rural-area small businesses
This section amends section 4 of the Securities Exchange Act of 1934 to require the
Changes in Existing Law Made by the Bill, as Reported
In compliance with clause 3(e) of rule XIII of the Rules of the
SECURITIES EXCHANGE ACT OF 1934
The full text of the report is found at: https://www.congress.gov/congressional-report/115th-congress/house-report/529/1?r=10
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