II
118THCONGRESS
1
STSESSION S. 3319
To amend the Investment Company Act of 1940 to address entities that
are not considered to be investment companies for the purposes of
that Act, and for other purposes.
IN THE SENATE OF THE UNITED STATES
NOVEMBER15, 2023
Mr. M
ORAN(for himself, Mr. WARNER, and Mr. SCOTTof South Carolina)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Investment Company Act of 1940 to address
entities that are not considered to be investment compa-
nies for the purposes of that Act, 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 ‘‘Expanding American 4
Entrepreneurship Act’’. 5
SEC. 2. INVESTMENT COMPANIES. 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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•S 3319 IS
(1) in the matter preceding subparagraph (A), 1
in the first sentence, by striking ‘‘250 persons’’ and 2
inserting ‘‘500 persons’’; and 3
(2) in subparagraph (C)(i), by striking 4
‘‘$10,000,000’’ and inserting ‘‘$50,000,000’’. 5
Æ
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