Main Street Growth Act

The Main Street Growth Act (HR 6623) creates a new type of securities exchange called a "venture exchange" to facilitate trading of stocks from early-stage companies. It allows companies that haven't had an initial public offering (IPO) and have a small public float (under $2 billion) to list their shares on these specialized exchanges, where they can trade under modified rules. The bill requires specific disclosures about the unique risks of these "venture securities" and prohibits trading them on regular exchanges while they're listed on a venture exchange. This primarily affects early-stage startups seeking capital and investors buying their shares, with the goal of improving access to capital markets for smaller businesses.