HR 2796 United States House · 118th Congress

Promoting Opportunities for Non-Traditional Capital Formation Act

This bill amends the Securities Exchange Act to require the Securities and Exchange Commission (SEC) to help underrepresented small businesses access capital. It directly affects women-owned, minority-owned, rural, and disaster-affected small businesses by mandating the SEC provide educational resources and host events about capital-raising options. The SEC must also hold annual meetings with state securities commissions to coordinate assistance efforts for these businesses and investors. These changes focus on improving access to existing capital markets through education and collaboration, without altering securities regulations.
Bill status passed 3 of 5 stages cleared
Introduction
Apr 2023
Committee Review
May 2023
House Passage
May 2023
Senate Passage
President
Introduced Apr 24, 2023 Last action May 31, 2023
Floor votes · House May 30, 2023

How they voted

30967
Passed · 58 other
Total votes 434
May 30, 2023
D Democratic213
178 Yea 35
83% Yea
I Independent1
1 Yea
100% Yea
R Republican220
130 Yea 67 Nay 23
59% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
15
Key actions
3
Committee
4
Amendments
3
May 31, 2023
Committee
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
May 30, 2023
Introduced
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 309 - 67 (Roll no. 240). (text: CR H2654-2655)
lower
May 30, 2023
Lower · Passed
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 309 - 67 (Roll no. 240). (text: CR H2654-2655)
lower
May 30, 2023
Introduced
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
lower
May 30, 2023
Lower · Passed
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-78.
lower
Apr 26, 2023
Introduced
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.
lower
Apr 26, 2023
Lower · Passed
Committee Consideration and Mark-up Session Held.
lower
Apr 24, 2023
Committee
Referred to the House Committee on Financial Services.
lower
Apr 24, 2023
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Maxine Waters
Maxine Waters
DDemocratic
CA
43