This resolution reaffirms unequivocal support for the North Atlantic Treaty Organization (NATO) as an alliance founded on democratic principles. The resolution urges NATO to continue to provide unwavering support to the people of Ukraine as they fight for their sovereignty, territorial integrity, and a democratic future. The resolution calls on the President to use the voice and vote of the United States to adopt a new Strategic Concept for NATO that is clear about its support for shared democratic values and committed to enhancing NATO's capacity to strengthen democratic institutions within NATO member, partner, and aspirant countries. Finally, the resolution calls on the President to use the voice and vote of the United States to establish a Center for Democratic Resilience within NATO headquarters.
Reducing Regulatory Burdens Act This bill establishes procedures to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment. The bill further prohibits agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation. Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.
Real Emergencies Act This bill denies the President authority to declare a national emergency, an emergency or major disaster, or a public health emergency on the premise of climate change.
Expanding American Entrepreneurship Act This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 500 persons and $50 million, respectively.
Small Entrepreneurs' Empowerment and Development Act of 2022 or the SEED Act of 2022 This bill creates an exemption to securities registration requirements for a micro-offering of securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption. The bill defines a micro-offering as an aggregate amount of securities sold by an issuer that does not exceed $500,000 in a 12-month period. This exemption does not apply to issuers who are convicted of specified financial crimes or are subject to specified disciplinary actions.
Gig Worker Equity Compensation Act This bill expands the existing Securities and Exchange Commission registration exemption for securities that are part of an employee-compensation package. Specifically, the bill applies this exemption to securities provided to independent contractors performing work for the issuer and to customers of the issuer. The bill also requires the corresponding aggregate sales amount to be indexed for inflation annually instead of every 5 years as under current law.
Equal Opportunity for all Investors Act This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors. Specifically, the bill allows an individual to qualify through an examination established by the Securities and Exchange Commission (SEC), a state securities commission, or certain self-regulatory organizations. The examination must measure whether an individual understands and appreciates the risks and opportunities of investing in securities, must be designed to ensure that an individual with financial sophistication or training would be unlikely to fail, and may be designed and/or administered by an approved person. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience. The bill also allows purchasers to self-certify that they meet the income or net worth requirements. Further, the bill allows a person to qualify as an accredited investor by satisfying certain investment or transaction requirements. Finally, the SEC may review and adjust the definition of accredited investor, except for the net worth standards, at its discretion. Currently, the SEC must perform this review every four years.
Bipartisan Ban on Congressional Stock Ownership Act of 2022 This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security. Each current Member must divest within 180 days after the bill is enacted and each new Member must divest within 180 days after becoming a Member. However, Members and their spouses have 5 years to divest from specified complex investment vehicles. The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans. A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member or spouse who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.
Restaurant Revitalization Fund Fairness Act This bill requires the Small Business Administration to award restaurant revitalization grants to eligible entities that applied for, but did not receive, a grant during the specified covered time period.
Medical Marijuana Research Act This bill establishes a new, separate registration process to facilitate medical marijuana research. Specifically, it directs the Drug Enforcement Administration to register (1) practitioners to conduct medical marijuana research, and (2) manufacturers and distributors to supply marijuana for such research. Additionally, the Department of Health and Human Services must continue to produce marijuana through the National Institute on Drug Abuse Drug Supply Program and implement a specialized process for supplying marijuana products available through state-authorized marijuana programs to researchers until manufacturers and distributors can provide a sufficient supply of marijuana for medical research.
Ensuring Lasting Smiles Act This bill requires private health insurance plans to cover diagnosis and treatment of congenital anomalies and birth defects, such as reconstructive services and items. Coverage must include services and items that functionally improve, repair, or restore any body part that is medically necessary for normal bodily functions or appearance, as determined by the treating physician. Coverage limits and cost-sharing requirements for such services and items may not be more restrictive than those applicable to all medical and surgical benefits under the plan.
This resolution condemns any calls made by a Member of the House of Representatives to defund the police and expresses the sense of the House of Representatives that any member who advocates for such defunding should not be permitted to use federal funds to contract with a private entity for security personnel support.
