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H.R. 3903: Encouraging Public Offerings Act of 2017

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H.R. 3903: Encouraging Public Offerings Act of 2017

115th Congress · introduced 2017-10-02 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-10-02 · official record
  2. Who proposed it: Rep. Budd, Ted [R-NC-13] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 599 (2017): On Motion to Suspend the Rules and Pass, as Amended, HR3903 (2017-11-01), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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

Encouraging Public Offerings Act of 2017

Plain summary

Encouraging Public Offerings Act of 2017 (Sec. 2) This bill amends the Securities Act of 1933 to allow an issuer of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., "test the waters"). Under current law, only emerging growth companies may engage in such communications. The bill also allows an issuer to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.

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

Encouraging Public Offerings Act of 2017

Source: Congressional Research Service summary (Passed House amended)

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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. Budd, Ted [R-NC-13] · 1 cosponsors

Cost estimate: CBO cost estimate: H.R. 3903, Encouraging Public Offerings Act of 2017 (2017-10-27)

Cosponsors on this site

Gregory W. Meeks (D-NY)

Sponsor's campaign money: Rep. Budd, Ted [R-NC-13] reported raising $1.8 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

Words on this page, explained (2)
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).
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-cong115-hr3903 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115