Bills · 118th Congress · Commerce

Promoting Opportunities for Non-Traditional Capital Formation Act

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass, as Amended · 5/30/23Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill. “As amended” means changes written into the motion itself are included.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic178 Yea · 0 Nay · 35 Not voting
  • Republican131 Yea · 67 Nay · 23 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

Promoting Opportunities for Non-Traditional Capital Formation Act

This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.

Specifically, the office must (1) provide educational resources and host events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.

Full text on congress.gov ↗
Sponsor
Rep. Maxine Waters ( Democrat · CA-43)
Cosponsors
0
Introduced
4/24/23
Policy area
Commerce
Status
4/24/23Referred to the House Committee on Financial Services.
4/24/23Introduced in House
4/26/23Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.
4/26/23Committee Consideration and Mark-up Session Held.
5/30/23Motion to reconsider laid on the table Agreed to without objection.
5/30/23On 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)
5/30/23Passed/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)
5/30/23Considered as unfinished business. (consideration: CR H2663-2664)
5/30/23At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
5/30/23DEBATE - The House proceeded with forty minutes of debate on H.R. 2796.
5/30/23Considered under suspension of the rules. (consideration: CR H2654-2656)
5/30/23Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
5/30/23Placed on the Union Calendar, Calendar No. 57.
5/30/23Reported (Amended) by the Committee on Financial Services. H. Rept. 118-78.
5/31/23Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.