H.R. 1070: Small Company Capital Formation Act of 2011

112th Congress · introduced 2011-03-14 · Finance and Financial Sector · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 222.

federal

Follow this bill, step by step

Where it came from: introduced 2011-03-14 · official record
Who proposed it: Rep. Schweikert, David [R-AZ-5] · what a sponsor is
What happened next: 1 recorded vote in our records. Latest: House roll call 820 (2011): On Motion to Suspend the Rules and Pass, as Amended, HR1070 (2011-11-02), Passed. See all
Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 222. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Small Company Capital Formation Act of 2011

Plain summary

Small Company Capital Formation Act of 2011 - (Sec. 2) Amends the Securities Act of 1933 (Act) to direct the Securities and Exchange Commission (SEC) to exempt from its regulation a class of securities for which the aggregate offering amount of all securities sold within the prior 12-month period in reliance upon such exemption does not exceed $50 million. Restricts any such exemption to equity securities, debt securities, and debt securities convertible or exchangeable to equity interests, including any guarantees of such securities. Subjects to civil liability certain violations arising from offering or selling securities by use of prospectuses and communications. Authorizes the SEC to: (1) require an issuer of such exempted class of securities to make periodic disclosures available to investors regarding the issuer, its business operations, financial condition, corporate governance principles, and use of investor funds; (2) require the issuer to file electronically with the SEC and distribute to prospective investors an offering statement which includes this information; (3) provide for the suspension and termination of this disclosure requirement with respect to that issuer; and (4) prescribe exemption disqualification requirements, substantially similar to regulations adopted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, based on the disciplinary history of the issuer and related persons, including predecessors, affiliates, officers, directors, and underwriters. Requires the SEC to: (1) review and increase biennially such offering amount limitation, as appropriate; and (2) report to certain congressional committees its reasons for not increasing the amount if it determines not to do so. Exempts from state regulation the securities covered and required exempted from SEC regulation by this Act.

Congressional Research Service summary (Reported to House with amendment(s)), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Small Company Capital Formation Act of 2011

Source: Congressional Research Service summary (Reported to House with amendment(s))

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Schweikert, David [R-AZ-5] · 20 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Schweikert, David [R-AZ-5] reported raising $1.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

House roll call 820 (2011): On Motion to Suspend the Rules and Pass, as Amended, HR1070 (2011-11-02): Passed

Words on this page, explained (4)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Reported to House with amendment(s))
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr1070.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr1070 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112