House vote: H.R. 4854 // July 5, 2016Needed two-thirds to pass
Supporting America's Innovators Act of 2016
Sponsor: Patrick McHenry (R-NC)
This bill amends the Investment Company Act of 1940 to exempt from its coverage any issuer whose outstanding securities with respect to a qualifying venture capital fund (other than short-term paper) are beneficially owned by not more than 250 persons. The bill defines "qualifying venture capital fund" as one with no more than $10 million (annually adjusted for inflation) in invested capital.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 9.0% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 388 | 88.9% |
| Nay | Lost | 9 | 2.1% |
| Not represented on this question | No position taken | 0 | 9.0% |