THE DAILY WHIP: THURSDAY, MARCH 8, 2012

House Meets At: First Vote Predicted: Last Vote Predicted:

10:00 a.m.: Legislative Business

Five “One Minutes” per side

11:00 - 11:30 a.m. 11:30 a.m. - 12:30 p.m.

Complete Consideration of H.R. 3606 - Jumpstart Our Business Startups (Rep. Fincher - Financial Services) (One Hour of debate) The measure consists of six bills, four of which have already passed the House, that are all aimed at boosting capital formation for small businesses by adjusting Securities and Exchange Commission (SEC) rules on when and how smaller businesses raise money from investors. This bill would reduce certain SEC registration and reporting requirements, clarify conditions under which issuers of securities may advertise to potential investors, and define the conditions under which businesses may use "crowdfunding" to raise capital from investors.

The House is expected to complete consideration of H.R. 3606 today, including votes on amendments, motion to recommit and final passage. As of yesterday, 7 amendments remained to be debated. The amendments are:

Rep. McHenry Amendment.  Would, for Rule 506 of Regulation D, provide an exemption from registration as a broker or dealer for trading platforms that do not charge a fee in connection with the purchase or sale of the security or permit general solicitations, general advertisements, or similar or related activities by issuers of such securities. Would also enable the marketing of private shares to accredited investors through platforms
Rep. Miller (NC)/Rep. Schweikert Amendment.
  Would increase the total number of investors and limit the number of non-accredited investors allowed to be holders
of record before registration is required
Rep. Schweikert Amendment.
Would authorize the SEC to study whether or not it has the authority to enforce anti-evasion provisions associated with the shareholder threshold
Rep. Capuano Amendment.
Would require the SEC to conduct a study to address anti- evasion concerns and determine if the term "held of record" should mean beneficial owner of the security
Rep. Peters Amendment.
Would require publicly traded companies to disclose on an annual basis the total number of employees they have in each country and the percentage increase or decrease in employment in each country
Rep. Capps Amendment.
Would require the SEC to issue a report to the Congress one year after enactment on the increase in initial public offerings that resulted from the act, including specific increases in filings by manufacturing and high-technology companies
Rep. Loebsack Amendment.
Would require information to be made available online, and outreach to be conducted to small and medium-sized businesses, women-owned businesses, veteran-owned businesses, and minority owned businesses to inform them about changes put in place by this legislation

Bill Text for H.R. 3606:
HTML Version

PDF Version
Background for H.R. 3606:
House Report (HTML Version)

House Report (PDF Version)

 
The Daily Quote

“Speaker John Boehner exhorted his Republican colleagues to stop sitting on their hands and pass the House’s highway bill. In a Wednesday morning meeting in the Capitol basement, the Ohio Republican launched a last-ditch effort to salvage the so-far futile effort to pass a massive plan to rebuild the nation’s roads — the main GOP jobs bill of the 112th Congress….Now, the House has to pass either some version of Mica’s highway bill…or the Senate bill…”

-     Politico, 3/7/12