JOBS Act bill passes house
Washington, May 22, 2013
Tags: Small Business
On May 15, a bipartisan majority of the House of Representatives voted 416-6 in favor of passing H.R. 701. Congressman Scott is an original sponsor of H.R. 701, which requires the SEC to implement Title IV of the JOBS Act (P.L. 112—106) by October 31. Title IV requires the SEC to adopt or amend regulations that encourage capital formation for small businesses through a currently under-used provision of securities law known as Regulation A. Under Regulation A, the JOBS Act increased the capital that small companies an raise from $5 million to $50 million.
The JOBS Act was enacted in 2012 and several provisions are being implemented through proposed agency regulations. Congressman Scott is a member of the House Financial Services Committee, which has oversight of the SEC and other financial market regulators. You can review the SEC's website on the JOBS Act online at: http://www.sec.gov/spotlight/jobs-act.shtml Do you have any thoughts or concerns about implementing the JOBS Act?