US Congress House Bill 477 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 9-2)
Status: Engrossed on December 11 2017 - 50% progression, died in committee
Action: 2017-12-11 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from that Act's registration requirements merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. This exemption shall not apply, however, to brokers that: receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer; engage on behalf of an issuer in a public offering of registered securities; engage on behalf of any party in a transaction involving specified shell companies; provide financing related to the transfer of ownership; assist any party to obtain financing from a third party in specified circumstances; represent both buyer and seller without disclosure and consent from both parties; facilitate a transaction with a group of buyers formed with the assistance of the broker; engage in transferring ownership to a passive buyer; bind a party to a transfer of ownership; or are subject to suspension or revocation of registration or to other specified disqualifications.

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017

Rep. Bill Huizenga [R-MI]	Rep. Bill Posey [R-FL]	Rep. Brian Higgins [D-NY]	Rep. David Joyce [R-OH]
Rep. Kevin Brady [R-TX]	Rep. Dennis Ross [R-FL]	Rep. Frank Lucas [R-OK]	Rep. David Young [R-IA]
Rep. Zoe Lofgren [D-CA]	Sen. Ted Budd [R-NC]	Rep. Pete Sessions [R-TX]

2017-12-07 - House - On passage RC# 669 (Y: 426 N: 0 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2017-12-11	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2017-12-07	House	Motion to reconsider laid on the table Agreed to without objection.
2017-12-07	House	On passage Passed by the Yeas and Nays: 426 - 0 (Roll no. 669).
2017-12-07	House	Considered as unfinished business. (consideration: CR H9742-9743)
2017-12-07	House	POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 477, the Chair put the question on passage of the bill, and announced by voice vote that the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until later in the legislative day.
2017-12-07	House	H.Amdt.495 On agreeing to the Sherman amendment (A002) Agreed to by voice vote.
2017-12-07	House	H.Amdt.495 The previous question was ordered on the amendment and the bill without objection
2017-12-07	House	DEBATE - Pursuant to the provisions of H.Res. 647, the House proceeded with 10 minutes of debate on the Sherman amendment No. 1.
2017-12-07	House	H.Amdt.495 Amendment (A002) offered by Mr. Sherman. (consideration: CR H9741-9742; text: CR H9741)
2017-12-07	House	DEBATE - The House proceeded with one hour of debate on H.R. 477.
2017-12-07	House	Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
2017-12-07	House	Considered under the provisions of rule H. Res. 647. (consideration: CR H9739-9742; text of amendment in the nature of a substitute: CR H9739-9740)
2017-12-06	House	Rules Committee Resolution H. Res. 647 Reported to House. Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
2017-11-30	House	Placed on the Union Calendar, Calendar No. 318.
2017-11-30	House	Reported by the Committee on Financial Services. H. Rept. 115-431.
2017-10-12	House	Ordered to be Reported by the Yeas and Nays: 37 - 23.
2017-10-12	House	Committee Consideration and Mark-up Session Held.
2017-10-11	House	Committee Consideration and Mark-up Session Held.
2017-01-12	House	Referred to the House Committee on Financial Services.
2017-01-12	House	Introduced in House

HB10 (Related) 2017-07-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
HR375 (Similar To) 2017-06-07 - Motion to reconsider laid on the table Agreed to without objection.
HR647 (Related) 2017-12-07 - Motion to reconsider laid on the table Agreed to without objection.
HB6147 (Related) 2018-09-07 - Message on Senate action sent to the House.
SB488 (Related) 2018-07-18 - Message on House action received in Senate and at desk: House amendments to Senate bill.
SB3518 (Related) 2018-09-27 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/477/all-info
Text	https://www.congress.gov/115/bills/hr477/BILLS-115hr477ih.pdf
Text	https://www.congress.gov/115/bills/hr477/BILLS-115hr477rh.pdf
Text	https://www.congress.gov/115/bills/hr477/BILLS-115hr477eh.pdf
Roll Call	https://clerk.house.gov/Votes/2017669