H.R. 1952: Spread Pricing Liquidity Act of 2013

113th Congress · introduced 2013-05-13 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

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Follow this bill, step by step

Where it came from: introduced 2013-05-13 · official record
Who proposed it: Rep. Schweikert, David [R-AZ-6] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. 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

Spread Pricing Liquidity Act of 2013

Plain summary

Spread Pricing Liquidity Act of 2013 - Amends the Securities Exchange Act of 1934 concerning the national market system for securities to authorize the board of directors of an issuer with a public float of $500 million or less to select to have the issuer's securities quoted and traded using an increment (tick) of either $0.05 or $0.10. Prohibits selection of the $0.05 tick unless the average trading price in the most recent 1-month period for the securities of an issuer is between $1 and $2. Limits the tick selection to $0.05 for the issuer of any such security. Prescribes trading requirements. Permits a issuer that has made the selection under this Act to choose to opt out at any time after the six-month period beginning on the date the selection was made. States that, if the public float of an issuer that has made such a tick selection rises above $500 million (based on a rolling average over the course of a 3-month period), or its average daily trading volume rises above $500 million, then after the end of the 3-month period beginning on the date of such occurrence the issuer: (1) shall no longer be considered to have made the tick selection; and (2) shall be ineligible to make such a tick selection for 2 years after such 3-month period. Directs the Securities and Exchange Commission (SEC) to study the quoting and trading of securities in increments of $0.05 and $0.10, and the extent to which such system increases liquidity by incentivizing capital commitment, research coverage, and brokerage support.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Spread Pricing Liquidity Act of 2013

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Schweikert, David [R-AZ-6] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Schweikert, David [R-AZ-6] reported raising $1.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
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 (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr1952.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr1952 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113