{"format":1,"id":"118-hr-2796","congress":118,"number":"H.R. 2796","kind":"bill","group":"bills","title":"Promoting Opportunities for Non-Traditional Capital Formation Act","title_source":"Short Title(s) as Passed House","official_title":"To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes."},{"type":"Display Title","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Introduced","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Reported to House","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Passed House","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"}],"outcome":"passed_house","law_number":null,"introduced":"2023-04-24","chambers":{"house":{"status":"roll_call","date":"2023-05-30","vote":{"id":"118-2023-h240","question":"On Motion to Suspend the Rules and Pass, as Amended","title":"Promoting Opportunities for Non-Traditional Capital Formation Act","result":"Passed","yea":309,"nay":67,"present":0,"not_voting":58,"source":"https://clerk.house.gov/evs/2023/roll240.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","date":"2023-05-31"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2023-05-30","stage":"Passed House","blocks":[{"k":"h","t":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"k":"p","t":"This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation."},{"k":"p","t":"Specifically, the office must (1) provide educational resources and host events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination."}],"words":73},"summary":{"main_subject":{"text":"Adds two functions to the duties of the Advocate for Small Business Capital Formation under the Securities Exchange Act of 1934: providing educational resources and events on capital raising options, and meeting at least annually with State securities commissions.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}]},"core_areas":["Duties of the Advocate for Small Business Capital Formation","Educational resources and events on capital raising options for small businesses","Coordination with State securities commissions"],"what_it_does":[{"text":"Amends section 4(j)(4) of the Securities Exchange Act of 1934 by adding two new functions to the list of functions of the Advocate for Small Business Capital Formation.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}},{"text":"Requires the Advocate to provide educational resources and host events to raise awareness of capital raising options for underrepresented small businesses, including women-owned and minority-owned small businesses.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}},{"text":"Requires the same educational resources and events to cover capital raising options for businesses located in rural areas.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}},{"text":"Requires the same educational resources and events to cover capital raising options for small businesses affected by hurricanes or other natural disasters.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}},{"text":"Requires the Advocate, at least annually, to meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination on efforts to assist small businesses and small business investors.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh#H4B922B15E59C48939302AA6551FCE7C7"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2023-05-30","rule":"passed","href":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-02","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/118th-congress/house-bill/2796","text":"https://www.congress.gov/bill/118th-congress/house-bill/2796/text"},"card":{"image":"card/item/118-hr-2796.png","v":"d98b9aec6b9b","alt":"Votes on Record. H.R. 2796, 118th Congress: Promoting Opportunities for Non-Traditional Capital Formation Act. House: 309 Yea, 67 Nay. Outcome: Passed House, 30 May 2023."}}