I
118THCONGRESS
1
STSESSION H. R. 2790
To amend the Investment Company Act of 1940 with respect to the definition
of qualifying venture capital funds, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL20, 2023
Mr. T
IMMONSintroduced the following bill; which was referred to the
Committee on Financial Services
A BILL
To amend the Investment Company Act of 1940 with respect
to the definition of qualifying venture capital funds, and
for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Improving Capital Al-4
location for Newcomers Act of 2021’’. 5
SEC. 2. QUALIFYING VENTURE CAPITAL FUNDS. 6
Section 3(c)(1) of the Investment Company Act of 7
1940 (15 U.S.C. 80a–3(c)(1)) is amended— 8
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•HR 2790 IH
(1) in the matter preceding subparagraph (A), 1
by striking ‘‘250 persons’’ and inserting ‘‘2,000 per-2
sons’’; and 3
(2) in subparagraph (C)(i), by striking 4
‘‘$10,000,000’’ and inserting ‘‘$150,000,000’’. 5
Æ
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