Proposal:Community Bank Access to Capital Act of 2019

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 1233
Type of Legislation	Senate Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

Community Bank Access to Capital Act of 2019

This bill creates an exemption from internal control report attestation requirements for depository institutions with assets less than $5 billion. These institutions are also exempt from certain annual reports on financial condition and management.

The Securities and Exchange Commission must revise Regulation D (which exempts certain offerings from securities registration requirements) to (1) raise the limit on the number of purchasers of securities, and (2) include a person's primary residence as an asset used in determining whether a person is an accredited investor eligible to participate in these offerings.

Bill Title

Community Bank Access to Capital Act of 2019

Linked Goals

• Goal:Promote General Welfare

Steps

• 2019-04-30: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
• 2019-04-30: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.