,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fbeb  ,,in ,,the ,,house ,,of  
,,representatives  ,march #ab1 #bjbj,mr4
 ,mc,henry 7for himself1 ,mrs4 ,wagner1 
,mr4 ,barr1 ,mr4 ,stivers1 and ,mr4     
,huizenga7 introduced the following     
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to amend the ,securities ,act  
of #aicc to provide an exemption for    
certain micro-offering transactions1 and
 for other purposes4  #a4 ,short title  
,this ,act may be cited as the ,relief  
for ,small ,businesses ,through         
,micro-,offerings ,act of #bjbj4  #b4   
,exempt transactions for certain        
micro-offerings  7a7 ,in general        
,section #d7;a7 of the ,securities ,act 
of #aicc 7#ae ,u4,s4,c4 #gg;d7a77 is    
amended by adding at the end the        
following3  7#h7 transactions involving 
the offer or sale of securities by an   
issuer 7including all entities          
controlled by or under common control   
with the issuer71 provided that-- 7,a7  

the aggregate amount sold to all        
investors by the issuer1 including any  
amount sold in reliance on the exemption
 provided under this paragraph during   
the #ab-month period preceding the date 
of such transaction1 is not more than   
#bej1jjj2  7,b7 the aggregate amount    
sold to any investor by an issuer1      
including any amount sold in reliance on
 the exemption provided under this      
paragraph during the #ab-month period   
preceding the date of such transaction1 
does not exceed #e1jjj2 and  7,c7 the   
transaction is conducted through a      
broker or funding portal registered with
 the ,commission4  4  7b7 ,authority ,to
 prohibit bad actors ,in issuing rules  
to carry out section #d7;a77#h7 of the  
,securities ,act of #aicc1 as added by  
subsection 7a71 the ,securities and     
,exchange ,commission may prohibit a    
person from engaging in a transaction   
described under such section #d7;a77#h7 
if such person is subject to an event   
that would disqualify an issuer or other

 covered person under ,rule #ejf7;d77#a7
 of ,regulation ,d 7#ag ,,cfr           
#bcj4ejf7;d77#a77 or is subject to a    
statutory disqualification described    
under section #c7;a77#ci7 of the        
,securities ,exchange ,act of #aicd4    
7c7 ,termination ,effective on the date 
that is #c years after the date of the  
enactment of this ,act1 paragraph 7#h7  
of section #d7;a7 of the ,securities    
,act of #aicc 7#ae ,u4,s4,c4 #gg;d7a771 
as added by subsection 7a71 is repealed4
  7d7 ,study ,not later than #a year    
after the date of the enactment of this 
,act1 the ,comptroller ,general of the  
,united ,states shall submit to         
,congress a study on the impact of      
paragraph 7#h7 of section #d7;a7 of the 
,securities ,act of #aicc 7#ae ,u4,s4,c4
 #gg;d7a771 as added by subsection 7a74