les pensées insouciantes

The U.S. House of Representatives this week passed a variety of measures intended to make it easier for small businesses to raise money. The most notable of the bills, which have had wide bipartisan support, would create an SEC exemption for crowdfunding.

The crowdfunding bill, called the Entrepreneur Access to Capital Act, would allow companies to give out equity stakes in exchange for investments of up to $2 million.

The stakes wouldn’t count against the SEC’s famous 500-shareholder rule. And individual investors would be capped at putting in $10,000 or 10 percent of their annual income.

This is very exciting.

The bill, sponsored by Rep. Patrick McHenry [R-NC10], passed 407-17, with 9 not voting.

You can view the bill here.

Just For Reference™, the 17 Naye votes, all Democrats, were:

Georgia:

GA-5  Lewis, John [D]

Illinois:

IL-9  Schakowsky, Janice [D]

Maryland:

MD-4 Edwards, Donna [D]

MD-7 Cummings, Elijah [D]

Massachusetts:

MA-1 Olver, John [D]

MA-6 Tierney, John [D]

MA-7 Markey, Edward [D]

MA-8 Capuano, Michael [D]

MA-9 Lynch, Stephen [D]

Michigan:

MI-5 Kildee, Dale [D]

MI-15 Dingell, John [D]

New York:

NY-5 Ackerman, Gary [D]

North Carolina:

NC-1 Butterfield, George [D]

NC-4 Price, David [D]

NC-12 Watt, Melvin [D]

NC-13 Miller, R. [D]

Ohio:

OH-10 Kucinich, Dennis [D]

The bill now has to pass the Senate before being signed into law.

(Source: allthingsd.com)