US Federal 2023-2024 Regular Session

US Federal House Bill HB2624

Introduced
4/13/23  

Caption

Helping Startups Continue To Grow Act

Impact

The bill has significant implications for state laws regarding the financial landscape for startups. By updating the criteria for emerging growth companies, HB2624 is posited to stimulate investment in burgeoning businesses, enhancing access to capital markets. As a result, the bill aims to encourage innovation and job creation by allowing more companies to qualify for favorable regulatory treatment as they grow. This could ultimately lead to a more robust economic environment, particularly in sectors heavily reliant on startup activity.

Summary

House Bill 2624, titled the 'Helping Startups Continue To Grow Act', seeks to amend the definition of an 'emerging growth company' within securities legislation. One of the primary changes proposed is raising the revenue threshold that defines an emerging growth company from $1 billion to $2 billion. This adjustment aims to reflect the changing economic landscape and to further support businesses as they scale and mature. The bill is expected to provide greater flexibility for startups that are in the growing phase, enabling them to take advantage of reduced regulatory burdens that accompany this designation.

Contention

Despite its goals, the bill may face contention from various quarters. Opponents of the measure may express concerns regarding the potential for reducing oversight and protection for investors, as the evolution of an emerging growth company's status could lead to situations where the regulatory protections that are standard for larger, more established companies are lessened. Critics may argue that while supporting startups is important, it should not come at the expense of consumer and investor protections.

Companion Bills

US HB2799

Related Expanding Access to Capital Act of 2023

Previously Filed As

US HB3323

Helping Startups Continue To Grow Act

US HB51

Washington, D.C. Admission Act This bill provides for the admission of the state of Washington, Douglass Commonwealth into the United States. The commonwealth consists of all the territory of the District of Columbia (DC), excluding certain federal property. The excluded property shall be known as the Capital and serve as the seat of federal government; it includes the principal federal monuments, the White House, the Capitol Building, the Supreme Court Building, and the federal office buildings located adjacent to the Mall and Capitol Building. In addition, the bill maintains the federal government's authority over military lands and specified other property and prohibits the commonwealth from taxing federal property except as permitted by Congress. Within 30 days of this bill's enactment, the DC mayor must call for the election of two Senators and one Representative for the commonwealth. The commonwealth shall be admitted into the United States upon a presidential proclamation announcing the results of that election. The bill applies current DC laws to the commonwealth and continues pending judicial proceedings. It also continues certain federal authorities and responsibilities, including regarding employee benefits, agencies, and courts, until the commonwealth certifies that it is prepared to take over those authorities and responsibilities. Further, the bill provides for expedited consideration of a joint resolution to repeal the Twenty-third Amendment to the Constitution (which allows DC citizens to vote in presidential elections). The bill also establishes a commission to advise the President, Congress, and DC and commonwealth leaders on the transition.

US HB107

Freedom for Families Act This bill modifies requirements for health savings accounts (HSAs) to (1) exclude from gross income HSA distributions paid or distributed during a period of qualified caregiving, (2) allow participation in an HSA without enrollment in a high deductible health plan, and (3) increase the contribution limit for HSAs.

US HB215

Working to Advance Tangible and Effective Reforms for California Act or the WATER for California Act This bill addresses the operation of the Central Valley Project (CVP), a federal water project in California owned and operated by the Bureau of Reclamation, and the California State Water Project (SWP), which is operated jointly with the CVP. Specifically, the bill requires that Reclamation operate the CVP and SWP pursuant to a specified alternative to a proposed action in a final environmental impact statement and 2019 agency published Biological Opinions (BiOps). The bill also requires Reclamation and the Department of Commerce to submit a justification to Congress that meets certain requirements prior to requesting or completing a reinitiation of consultation that will result in new BiOps. This bill also requires Reclamation to allocate water to existing agricultural water service contractors within the CVP's Sacramento River Watershed based on the water year type (e.g., dry, wet). These allocations must not affect the United States' ability or obligations to deliver water under other designated contracts. Further, the bill repeals certain eligibility requirements for water infrastructure construction funding under the Infrastructure Investment and Jobs Act to make the Shasta Dam and Reservoir Enlargement Project in California eligible for funding. The bill also requires that Reclamation funds made available but not used for this project in previous appropriations years be made available to the project. Finally, the bill reauthorizes Reclamation's support for the construction or expansion of water storage projects.

US HB114

Fund and Complete the Border Wall Act This bill establishes funding for a U.S.-Mexico border barrier and revises how border patrol agents are compensated for overtime. The Department of the Treasury shall set up an account for funding the design, construction, and maintenance of the barrier. The funds in the account are appropriated only for that purpose and for vehicles and equipment for border patrol agents. For each fiscal year, financial assistance to a country shall be reduced by $2,000 for each citizen or national of that country apprehended for illegally entering the United States through its southern border. The reduced amount shall be transferred to the border barrier account. The Department of State may opt not to reduce amounts appropriated to Mexico for various military and law enforcement-related activities. This bill establishes a 5% fee on foreign remittance transfers and increases the fee for the arrival/departure I-94 form for various aliens entering the United States, with part of the fees to go into the border barrier account. By December 31, 2023, DHS shall (1) take all actions necessary, including constructing barriers, to prevent illegal crossings along the U.S.-Mexico barrier; and (2) achieve operational control over all U.S. international borders. The bill changes how border patrol agents receive overtime pay when working up to 100 hours in a two-week period. For hours worked above 80, an agent shall receive at least 150% of the agent's regular hourly rate.

US HB209

Permitting for Mining Needs Act of 2023 This bill expedites the review of mining projects on federal lands and limits judicial review of mining projects. For example, the bill expands the federal permitting and review processes under the Infrastructure Investment and Jobs Act for critical minerals. Under the act, the Bureau of Land Management (BLM) and the U.S. Forest Service, to the maximum extent practicable, must complete the federal permitting and review processes related to critical mineral mines on federal lands with maximum efficiency and effectiveness. This bill expands this process to include all minerals as defined by the bill, not only critical minerals. The bill also establishes deadlines for completing the review of mining projects under the National Environmental Policy Act of 1969. In addition, the bill also expands the meaning of covered projects under the Fixing America's Surface Transportation (FAST) Act to include (1) certain mineral production projects, and (2) certain actions taken by the Department of Defense. Such projects qualify for expedited environmental review. It also establishes requirements to expedite the review or authorization of certain mineral projects, such as (1) mineral exploration activities with a surface disturbance of no more than five acres of public lands, (2) ancillary mining activities, and (3) uranium projects. Finally, the bill limits judicial review of a permit, license, or approval issued by a lead agency for a mining project by requiring the filing of claims within a certain time period.

US HB194

Safeguards Ensuring Criminal and Unvetted Refugees don't Enter America Act or the SECURE America Act This bill imposes restrictions on the admission of aliens, including refugees, and addresses related issues. Specifically, no refugees may be admitted until Congress enacts a joint resolution setting the maximum number of refugees allowed to be admitted in a particular fiscal year. Currently, that number is set each fiscal year by the President. The Department of Homeland Security (DHS) must notify Congress at least 30 days before determining that an alien or class of aliens is eligible for refugee status. Congress may nullify the determination by enacting a joint resolution of disapproval. Further, an alien shall be inadmissible for holding certain beliefs, such as (1) believing that a system of religious law should be implemented in the United States, (2) believing that the alien does not need to learn English if the alien is not already fluent, or (3) any belief that the Department of State determines is incompatible with the principles of the United States. DHS may not parole into the United States an alien who does not have status under immigration law. Currently, DHS may provide parole in certain instances, including for urgent humanitarian reasons. Federal agencies must notify a state at least 30 days before resettling a refugee in that state. The refugee may not be resettled in that state if the state expresses disapproval. An alien who has committed a crime of violence (generally one involving the use or threat of physical violence against person or property) may not be eligible for refugee status and must be removed.

US HB154

Securing our Elections Act of 2023 This bill establishes certain photo identification requirements for voting in federal elections. Specifically, the bill prohibits a state or local election official from providing a ballot for a federal election to an individual who does not present valid photo identification. Next, the bill outlines the availability of provisional ballots and the requirements for counting those ballots. In particular, an individual who does not present a valid photo identification must be permitted to cast a provisional ballot. However, an election official may not determine that the individual is eligible under state law to vote in the election unless, not later than three days after casting the provisional ballot, the individual presents (1) the identification required, or (2) an affidavit attesting that the individual does not possess the identification because of a religious objection to being photographed. An election official may not allow for voting methods other than in-person voting unless the individual submits the ballot with (1) a copy of their photo identification, or (2) the last four digits of their Social Security number with an affidavit attesting that the individual is unable to obtain a copy of a valid photo identification after making reasonable efforts to obtain a copy. This prohibition shall not apply to overseas military voters. The bill also requires an election official to provide an individual with a valid photo identification without charge if that individual presents an affidavit attesting to an inability to afford or otherwise obtain a valid photo identification.

US HB3352

HALOS Act of 2025 Helping Angels Lead Our Startups Act of 2025

US HB240

National Jazz Preservation, Education, and Promulgation Act of 2023 This bill establishes a National Jazz Preservation Program and a National Jazz Appreciation Program, to be carried out by the Smithsonian Institution through the National Museum of American History, to (1) preserve knowledge and promote education about jazz, and (2) further the appreciation of jazz music throughout the nation. The Smithsonian Institution shall (1) record interviews with leading jazz artists; (2) acquire, preserve, and interpret jazz artifacts; (3) continue to recognize Jazz Appreciation Month; (4) establish collaborative agreements for the sharing of such artifacts; and (5) encourage, consult with, and engage in capacity building with community-based and regional organizations with the potential to establish jazz archival collections. The bill amends the Elementary and Secondary Education Act of 1965 to allow the use of certain funds for programs to promote jazz education, which may include (1) a Jazz Artists in the Schools program, (2) a program for the development and distribution of educational materials about jazz and teacher training on jazz education, and (3) an Ambassadors of Jazz program. The Smithsonian Institution shall establish a series of jazz performances at Smithsonian affiliates that provides broad geographic access to jazz and supports public appreciation for the diversity of jazz music.

Similar Bills

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