PSI Sci
New here? Follow the money and the votes · Not sure of your district? Find your U.S. House member · Find your state legislators

H.R. 4855: Fix Crowdfunding Act

Before you vote › Federal bills

H.R. 4855: Fix Crowdfunding Act

114th Congress · introduced 2016-03-23 · Finance and Financial Sector · Latest: Received in the Senate.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2016-03-23 · official record
  2. Who proposed it: Rep. McHenry, Patrick T. [R-NC-10] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 350 (2016): On Motion to Suspend the Rules and Pass, as Amended, HR4855 (2016-07-05), Passed. See all
  4. Where it stands now: Received in the Senate. Not final yet: this can still change. We check for updates every day.
  5. 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

Fix Crowdfunding Act

Plain summary

Fix Crowdfunding Act (Sec. 2) This bill amends the Securities Act of 1933 to allow a crowdfunding issuer to sell shares through a crowdfunding vehicle. (Crowdfunding is a method of capital formation in which groups of people pool money, typically composed of small individual contributions, and often via Internet platforms, either to invest in a company or to support an effort by others to accomplish a specific goal.) A "crowdfunding vehicle" is a company that: has purposes limited to acquiring, holding, and disposing securities issued by a single company in one or more transactions and made pursuant to crowdfunding exemption transaction requirements; issues only one class of securities; receives no compensation for such acquisition, holding, or disposition of securities; is a co-issuer with the company whose securities it holds; and meets specified requirements related to disclosure obligations and the use of investment advisers. (Sec. 3) The bill amends the Securities Exchange Act of 1934 to revise the conditions upon which the Securities and Exchange Commission (SEC) shall exempt securities issued in crowdfunding transactions from SEC registration requirements. Under current law, holders of crowdfunded shares do not count toward the shareholder threshold beyond which an issuer is required to register its securities with the SEC, provided that the issuer: (1) is current in its annual reporting obligations, (2) retains the services of a registered transfer agent, and (3) has less than $25 million in assets. The bill maintains this exemption but removes and replaces the conditions upon which it applies. Specifically, holders of crowdfunded shares shall not count toward the shareholder threshold if the issuer has: (1) a public float of less than $75 million, and (2) annual revenues of less than $50 million.

Congressional Research Service summary (Passed House amended), 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

Fix Crowdfunding Act

Source: Congressional Research Service summary (Passed House amended)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

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

Officials and money

Sponsor: Rep. McHenry, Patrick T. [R-NC-10] · 1 cosponsors

Cost estimate: CBO cost estimate: H.R. 4855, Fix Crowdfunding Act (2016-07-01)

Cosponsors on this site

David Schweikert (R-AZ)

Recorded votes

Words on this page, explained (4)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption
A rule that removes certain people, property or activities from a tax or requirement.
Obligation
A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong114-hr4855 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114