S. 3914: Developing and Empowering our Aspiring Leaders Act of 2022
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S. 3914: Developing and Empowering our Aspiring Leaders Act of 2022
117th Congress · introduced 2022-03-24 · Finance and Financial Sector · Latest: Committee on Banking, Housing, and Urban Affairs. Hearings held.
federal
Follow this bill, step by step
- Where it came from: introduced 2022-03-24 · official record
- Who proposed it: Sen. Rounds, Mike [R-SD] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Committee on Banking, Housing, and Urban Affairs. Hearings held. 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.
Official title
Developing and Empowering our Aspiring Leaders Act of 2022
Plain summary
Developing and Empowering our Aspiring Leaders Act of 2022 This bill directs the Securities and Exchange Commission to revise venture capital investment regulations. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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If it passes both chambers and is signed, it becomes law.
A “Nay” vote
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PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Developing and Empowering our Aspiring Leaders Act of 2022
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Rounds, Mike [R-SD] · 0 cosponsors
Cost estimate: No cost estimate published yet.
Sponsor's campaign money: Sen. Rounds, Mike [R-SD] reported raising $3.8 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 (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s3914.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>
Record fed-us-cong117-s3914 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117