S:\CLERK\XML\CPRT-115-HPRT-RU00-HR1219.XML XXX XXXXXX 3/29/2017 16:43 XXXXXX 01/13/2017 14:25 XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXX XXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXX XXXXXX [Discussion Draft] [Discussion Draft] March 29, 2017 115th CONGRESS 1st Session Rules Committee Print 115-12 Text of H.R. 1219, Supporting America’s Innovators Act of 2017 [Showing the text of H.R. 1219 as ordered reported by the Committee on Financial Services.]

1.

Short title

This Act may be cited as the Supporting America’s Innovators Act of 2017.

2.

Investor limitation for qualifying venture capital funds

Section 3(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–3(c)(1)) is amended— (1) in the matter preceding subparagraph (A), by inserting (or, in the case of a qualifying venture capital fund, 250 persons) after one hundred persons; and (2) by adding at the end the following: (C) (i) The term qualifying venture capital fund means a venture capital fund that has not more than $10,000,000 in aggregate capital contributions and uncalled committed capital, with such dollar amount to be indexed for inflation once every 5 years by the Commission, beginning from a measurement made by the Commission on a date selected by the Commission, rounded to the nearest $1,000,000. (ii) The term venture capital fund has the meaning given the term in section 275.203(l)–1 of title 17, Code of Federal Regulations, or any successor regulation. .