House Passes JOBS Act Implementation BillMay 22, 2013
Last week, the House passed (by a margin of 416 – 6) H.R. 701, a bipartisan bill introduced by Congressman Patrick McHenry (R – NC) that would amend a provision of the Securities Act of 1933 to establish a deadline of October 31, 2013 for the U.S. Securities and Exchange Commission (SEC) to finalize its rules regarding revisions to Regulation A as enacted under the JOBS Act. The bill will now go to the Senate where there is currently no timetable for action.
NSBA was pleased to see the introduction of this bill and hopes to see the introduction of other, similar measures to expedite the implementation of the JOBS Act, a pro-growth piece of legislation that is designed to promote and facilitate entrepreneurship and new business formation in the U.S.