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   117
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   &lt;pre&gt;[Congressional Record Volume 167, Number 26 (Thursday, February 11, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. PHILLIPS:H.R. 1020.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18:The Congress shall have Power to make all Laws which shallbe necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.[Page H503]&lt;/pre&gt;
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     Neguse
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    <item>
     <name>
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      Rural conditions and development
     </name>
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     Introduced in House
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     2021-06-01T15:16:03Z
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     &lt;p&gt;&lt;b&gt;New Business Preservation Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury must work with states to invest in new businesses and startups.&lt;/p&gt; &lt;p&gt;Specifically, the bill requires Treasury to provide certain funds to participating states, which these states must use to administer specified approved programs that provide equity investment in new businesses. Treasury must also award funds to approved state programs to provide follow-on investments.&lt;/p&gt; &lt;p&gt;If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An &lt;i&gt;exit&lt;/i&gt; is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders. &lt;/p&gt;
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  <title>
   New Business Preservation Act
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     New Business Preservation Act
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     To establish the Innovation and Startups Equity Investment Program in the Department of the Treasury, through which the Secretary of the Treasury shall allocate money to certain States to assist high-potential scalable startups access venture capital to commercialize innovations, create jobs, and accelerate economic growth, and for other purposes.
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   This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
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2021-02-11
Financial Services Committee
hsba00
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Referred to the House Committee on Financial Services.
IntroReferral
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2021-02-11
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Library of Congress
Introduced in House
IntroReferral
1000
2021-02-11
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Library of Congress
Introduced in House
IntroReferral
2021-02-11T14:09:35Z
Referred to
House
Financial Services Committee
hsba00
Standing
S001185
7
Terri
Rep. Sewell, Terri A. [D-AL-7]
Sewell
A.
D
2021-02-26
AL
K000389
17
Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-03-10
CA
F000454
11
Bill
Rep. Foster, Bill [D-IL-11]
Foster
D
2021-03-16
IL
N000191
2
Joe
Rep. Neguse, Joe [D-CO-2]
Neguse
D
2021-05-25
CO
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-02-11
2021-02-11
Referred to the House Committee on Financial Services.
House
Commerce
P000616
3
Dean
Rep. Phillips, Dean [D-MN-3]
N
Phillips
D
MN
Business education Business investment and capital Congressional oversight Disability and paralysis Economic development Economic performance and conditions Education programs funding Government information and archives Government lending and loan guarantees Minority and disadvantaged businesses Minority education Performance measurement Rural conditions and development Small business Veterans' education, employment, rehabilitation Women in business
2021-02-11
Introduced in House
 <p><b>New Business Preservation Act</b></p> <p>This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury must work with states to invest in new businesses and startups.</p> <p>Specifically, the bill requires Treasury to provide certain funds to participating states, which these states must use to administer specified approved programs that provide equity investment in new businesses. Treasury must also award funds to approved state programs to provide follow-on investments.</p> <p>If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An <i>exit</i> is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders. </p>
2021-06-01T15:16:03Z
00
2021-02-11T05:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr1020ih/xml/BILLS-117hr1020ih.xml
New Business Preservation Act
New Business Preservation Act
Display Title
IH
Introduced in House
To establish the Innovation and Startups Equity Investment Program in the Department of the Treasury, through which the Secretary of the Treasury shall allocate money to certain States to assist high-potential scalable startups access venture capital to commercialize innovations, create jobs, and accelerate economic growth, and for other purposes.
Official Title as Introduced
IH
Introduced in House
New Business Preservation Act
Short Title(s) as Introduced
HR
2023-01-11T13:47:25Z
2023-01-11T13:47:25Z
3.0.0
H11100
2021-02-11
Financial Services Committee
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Referred to the House Committee on Financial Services.
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2021-02-11
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2021-02-11
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Introduced in House
IntroReferral
P000616
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Dean
Rep. Phillips, Dean [D-MN-3]
N
Phillips
D
MN
S001185
7
Terri
Rep. Sewell, Terri A. [D-AL-7]
Sewell
A.
D
2021-02-26
AL
K000389
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Ro
Rep. Khanna, Ro [D-CA-17]
Khanna
D
2021-03-10
CA
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Bill
Rep. Foster, Bill [D-IL-11]
Foster
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2021-03-16
IL
N000191
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Joe
Rep. Neguse, Joe [D-CO-2]
Neguse
D
2021-05-25
CO
Business education Business investment and capital Congressional oversight Disability and paralysis Economic development Economic performance and conditions Education programs funding Government information and archives Government lending and loan guarantees Minority and disadvantaged businesses Minority education Performance measurement Rural conditions and development Small business Veterans' education, employment, rehabilitation Women in business
2021-02-11
Introduced in House
 <p><b>New Business Preservation Act</b></p> <p>This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury must work with states to invest in new businesses and startups.</p> <p>Specifically, the bill requires Treasury to provide certain funds to participating states, which these states must use to administer specified approved programs that provide equity investment in new businesses. Treasury must also award funds to approved state programs to provide follow-on investments.</p> <p>If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An <i>exit</i> is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders. </p>
2021-06-01T15:16:03Z
00
New Business Preservation Act
New Business Preservation Act
Display Title
IH
Introduced in House
To establish the Innovation and Startups Equity Investment Program in the Department of the Treasury, through which the Secretary of the Treasury shall allocate money to certain States to assist high-potential scalable startups access venture capital to commercialize innovations, create jobs, and accelerate economic growth, and for other purposes.
Official Title as Introduced
IH
Introduced in House
New Business Preservation Act
Short Title(s) as Introduced
2021-02-11
Referred to the House Committee on Financial Services.