On the recordJuly 26, 2022
Madam Speaker, I move to suspend the rules and pass the bill (H.R. 4227) to require the Securities and Exchange Commission to revise the definition of a qualifying investment, for purposes of the exemption from registration for venture capital fund advisers under the Investment Advisers Act of 1940, to include an equity security issued by a qualifying portfolio company and to include an investment in another venture capital fund, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 4227 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Developing and Empowering our Aspiring Leaders Act of 2022''. SEC. 2. DEFINITIONS.…
