arrow_back Explore the Feed

Easier Small Business Sales: Less Red Tape for Brokers

New rules simplify the sale and acquisition of small, privately held companies by exempting certain brokers from registration requirements. This aims to streamline the process for small business owners looking to sell and for buyers. As a result, transactions may become quicker and less expensive, supporting local economic growth.
Key points
Brokers involved in selling small, privately held companies (meeting specific revenue and earnings thresholds) are now exempt from registering with the Securities and Exchange Commission, reducing bureaucracy.
The exemption applies to companies with annual earnings below $25 million or gross revenues below $250 million.
Brokers must still adhere to ethical guidelines, such as disclosing who they represent, and cannot engage in public offerings or shell company transactions.
Every five years, the financial thresholds for small businesses will be automatically adjusted for inflation to keep the regulations current.
article Official text account_balance Process page
VOTING RESULTS
2022-05-11
100%
For 419
Against 0
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_935
Sponsor: Rep. Huizenga, Bill [R-MI-2]
Process start date: 2021-02-08
Voting date: 2022-05-11
Meeting no: 2
Voting no: 158
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_935.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-08.

What are the main provisions?

Key points include:

  • Brokers involved in selling small, privately held companies (meeting specific revenue and earnings thresholds) are now exempt from registering with the Securities and Exchange Commission, reducing bureaucracy.
  • The exemption applies to companies with annual earnings below $25 million or gross revenues below $250 million.
  • Brokers must still adhere to ethical guidelines, such as disclosing who they represent, and cannot engage in public offerings or shell company transactions.
  • Every five years, the financial thresholds for small businesses will be automatically adjusted for inflation to keep the regulations current.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Huizenga, Bill [R-MI-2].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 158). (text: 05/10/2022 CR H4746-4747)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy