H.R. 1070Small Company Capital Formation Act of 2011

1 recorded action78 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: David Schweikert [R-AZ-05]
Cosponsors: 20 · 18 Republicans · 2 Democrats
Policy area: Finance and Financial Sector
Committee: Financial Services Committee
Latest action: Nov 7, 2011 · Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 222.

IntroducedMar 14, 2011
Passed the HouseNov 2, 2011
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

Small Company Capital Formation Act of 2011 - (Sec. 2) Amends the Securities Act of 1933 (Act) to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities sold within the prior 12-month period in reliance upon such exemption does not exceed $50 million. Restricts any such exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities.

Subjects to civil liability certain violations arising from offering or selling securities by use of prospectuses and communications. Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, financial condition, corporate governance principles, and use of investor funds; (2) require the issuer to file electronically with the SEC and distribute to prospective investors an offering statement which includes this information; (3) provide for the suspension and termination of this disclosure requirement with respect to that issuer; and (4) prescribe exemption disqualification requirements, substantially similar to regulations adopted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which the exemption shall not be available to the issuer and related persons, including predecessors, affiliates, officers, directors, and underwriters.

Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees its reasons for not increasing the amount if it determines not to do so.

Exempts from state regulation the securities covered and required exempted from SEC regulation by this Act.

(Sec. 3) Directs the Comptroller General to study the impact of state laws regulating securities offerings (Blue Sky laws) on offerings made under Regulation A (which specifies the terms and conditions of exemption from the registration requirements of the Securities Act of 1933).

Written by the nonpartisan Congressional Research Service, describing H.R. 1070 as passed House amended on Nov 2, 2011. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 820

House Nov 2, 2011

On Motion to Suspend the Rules and Pass, as Amended

Small Company Capital Formation Act

Passed · Two-thirds required

421 Yea 1 Nay 11 not voting

Crossed both parties 1 of 422 voting members broke with their own party: 1 Democrat.

Open the official roll call

How the chamber split

One dot per member. Select a seat or a bar to filter the list.

DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

By party select a segment to filter

All members433 members

Democratic192 members

Republican241 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Cosponsors20 · 18 Republicans · 2 Democrats

Signing on is not a vote: a member can cosponsor H.R. 1070 and vote against it. 4 signed when it was filed.

Loading the public record

Who lobbied on H.R. 107022 organizations

Organizations that named H.R. 1070 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.

AMERICAN BANKERS ASSOCIATIONIts PAC: American Bankers Association PAC

Taxation/Internal Revenue Code · Retirement · Copyright/Patent/Trademark · Financial Institutions/Investments/Securities +15 more10 filings · 1st Quarter (Jan 1 - Mar 31) 2012Filing

SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATIONIts PAC: Securities Industry & Financial Markets Association PAC

Banking · Financial Institutions/Investments/Securities · Commodities (big ticket) · Taxation/Internal Revenue Code +1 more8 filings · 4th Quarter (Oct 1 - Dec 31) 2012Filing

CHAMBER OF COMMERCE OF THE U.S.A.

Trade (domestic/foreign) · Automotive Industry · Labor Issues/Antitrust/Workplace · Homeland Security +44 more7 filings · 3rd Quarter (July 1 - Sep 30) 2012Filing

KPMG LLP

Banking · Accounting · Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code +2 more7 filings · 4th Quarter (Oct 1 - Dec 31) 2012Filing

AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTSIts PAC: American Institute of Certified Public Accountants PAC

Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code · Banking · Accounting +3 more6 filings · 4th Quarter (Oct 1 - Dec 31) 2012Filing

ERNST & YOUNG LLP (WASHINGTON COUNCIL ERNST & YOUNG)

Science/Technology · Economics/Economic Development · Housing · Immigration +6 more6 filings · 3rd Quarter (July 1 - Sep 30) 2012Filing

NYSE GROUP INCfiled by NYSE GROUP, INC., TIBER CREEK GROUP

Labor Issues/Antitrust/Workplace · Banking · Financial Institutions/Investments/Securities · Small Business6 filings · 1st Quarter (Jan 1 - Mar 31) 2012Filing

TECHNOLOGY ASSOCIATION OF AMERICA INCfiled by TECHNOLOGY ASSOCIATION OF AMERICA, INC.

Consumer Issues/Safety/Products · Immigration · Taxation/Internal Revenue Code · Computer Industry +14 more6 filings · 1st Quarter (Jan 1 - Mar 31) 2012Filing

DELOITTE LLPIts PAC: Deloitte PAC

Government Issues · Science/Technology · Telecommunications · Postal +9 more5 filings · 4th Quarter (Oct 1 - Dec 31) 2011Filing

SMALL BUSINESS INVESTOR ALLIANCE (FORMERLY NASBIC)filed by THE ADVOCACY GROUPIts PAC: Small Business Investor Alliance PAC

Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code · Small Business5 filings · 1st Quarter (Jan 1 - Mar 31) 2012Filing

95 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.