H.R. 686: Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

114th Congress · introduced 2015-02-03 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 303.

federal

Follow this bill, step by step

Where it came from: introduced 2015-02-03 · official record
Who proposed it: Rep. Huizenga, Bill [R-MI-2] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Placed on the Union Calendar, Calendar No. 303. 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 Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

Plain summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons. A merger and acquisition broker shall not be exempt from registration, however, if the broker: (1) receives, holds, transmits, or has custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engages on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports. Nothing in this Act shall be construed to limit any other authority of the Securities and Exchange Commission to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.

Congressional Research Service summary (Reported to House without amendment), 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 Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015

Source: Congressional Research Service summary (Reported to House without amendment)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Rep. Huizenga, Bill [R-MI-2] · 10 cosponsors

Cost estimate: CBO cost estimate: H.R. 686, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 (2015-06-18)

Cosponsors on this site

Zoe Lofgren (D-CA), Frank D. Lucas (R-OK), Tom Emmer (R-MN)

Sponsor's campaign money: Rep. Huizenga, Bill [R-MI-2] reported raising $5.6 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 (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.
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 without amendment)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr686.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr686 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114