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
309–67
Passed · 58 other
Total votes 434
May 30, 2023
D
Democratic213
83% Yea
I
Independent1
100% Yea
R
Republican220
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
Maxine Waters
DDemocratic
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