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Faster Capital Raising for Small Businesses: Automatic SEC Approval for Similar Offerings.

This law aims to speed up fundraising for small and medium-sized companies. It introduces automatic approval by the Securities and Exchange Commission (SEC) for subsequent, smaller stock offerings if they are substantially similar to an offering already approved. This change reduces regulatory delays, allowing companies to secure capital faster, potentially increasing investment opportunities available to the public.
Key points
Automatic SEC approval for subsequent stock offerings (under $5 million each) from companies that previously received approval for a similar class of securities.
The goal is to cut down approval times and make it easier for small businesses to raise capital quickly.
The change applies to offerings made under the simplified rules of Regulation A, Tier 2, reducing regulatory burden on issuers.
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Expired
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Additional Information
Print number: 118_HR_8222
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2024-05-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RACE Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8222.

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 2024-05-02.

What are the main provisions?

Key points include:

  • Automatic SEC approval for subsequent stock offerings (under $5 million each) from companies that previously received approval for a similar class of securities.
  • The goal is to cut down approval times and make it easier for small businesses to raise capital quickly.
  • The change applies to offerings made under the simplified rules of Regulation A, Tier 2, reducing regulatory burden on issuers.
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

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy