Micro Offering Safe Harbor Act
Sponsor: Tom Emmer (R-MN)
Micro Offering Safe Harbor Act (Sec. 2) This bill amends the Securities Act of 1933 to exempt certain micro-offerings from: (1) state regulation of securities offerings, and (2) federal prohibitions related to interstate solicitation. The exempted micro-offerings must meet all of the following requirements: the purchaser has a substantive pre-existing relationship with the issuer, during the 12-month period preceding the transaction there are no more than 35 purchasers relying on the exemption, and the amount of all securities sold by the issuer (including any amount sold in reliance upon the exemption) during the 12-month period preceding the transaction does not exceed $500,000.
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 3.4% 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 | 232 | 53.2% |
| Nay | Lost | 188 | 43.4% |
| Not represented on this question | No position taken | 0 | 3.4% |