,,ib ,union ,cal5d> ,no4 #bje #aai?     
,,congress  #a/ ,session  ,h4 ,r4 #ddca 
,report ,no4 #aai-bdh ,,9 ,,! ,,h\se ,,(
 ,,repres5tatives  ,july #af1 #bjbe,mr4 
,timmons introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,septemb] #h1                 
#bjbe;,additional sponsor3 ,ms4 ,pett]s5
  ,septemb] #h1 #bjbe,report$ ) an      
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be printed,strike out all aft] 
! enact+ clause & ins]t ! "p pr9t$ 9    
italic,for text ( introduc$ bill1 see   
copy ( bill z introduc$ on ,july #af1   
#bjbe  ,a ,,bill  ,to am5d ! ,inve/m5t  
,company ,act ( #aidj ) respect to !    
def9ition ( qualify+ v5ture capital     
funds1 & = o!r purposes4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,improv+
 ,capital ,allocation = ,newcom]s ,act (
 #bjbe4  #b4 ,qualify+ v5ture capital   
funds ,section #c7;c77#a7 ( ! ,inve/m5t 
,company ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;a-#c7;c77#a77 is am5d$-- 7#a7 9 !   

matt] prec$+ subp>agraph 7,a71 by /rik+ 
#bej p]sons & ins]t+ #ejj p]sons2 &     
7#b7 9 subp>agraph 7,c77i71 by /rik+    
#aj1jjj1jjj & ins]t+ #ej1jjj1jjj4  #c4  
,/udy & rulemak+  7a7 ,9 g5]al ,beg9n+  
#e ye>s aft] ! date ( enactm5t ( ?is    
,act1 ! ,advocate = ,small ,bus9ess     
,capital ,=mation1 9 consultation ) !   
,inve/or ,advocate1 %all conduct a /udy 
on ! effect ( ! am5dm5ts made by section
 #b on ! bus9esses & />tup entities 9   
:i* qualify+ v5ture capital funds inve/1
 specifically includ+1 ) respect to su* 
bus9esses & />tup entities1 *anges or   
tr5ds relat+ to-- 7#a7 ! geographic     
di/ribution ( capital to portfolio      
companies2  7#b7 ! socio-economic       
*>act]i/ics ( f\nd]s or controll+       
p]sons2  7#c7 ! vet]an /atus ( f\nd]s or
 controll+ p]sons2  7#d7 ! indu/ry      
sector1 size1 /age ( developm5t1 &      
relat$ details2 &  7#e7 o!r factors or  
metrics det]m9$ by ! ,advocate = ,small 
,bus9ess ,capital ,=mation4  7b7 ,report
 ,! ,advocate = ,small ,bus9ess ,capital

 ,=mation %all issue a report to !      
,congress conta9+ all f9d+s &           
det]m9ations made 9 c>ry+ out ! /udy    
requir$ 9 subsection 7a71 & make su*    
report available to ! public on !       
website ( ! ,commission4  7c7 ,public   
comm5t ,dur+ ! #ahj-;day p]iod beg9n+ on
 ! date ! report is issu$ "u subsection 
7b71 ! ,commission %all solicit fe$back 
f ! public on ! f9d+s & det]m9ations    
conta9$ 9 ! report4  7d7 ,rulemak+  7#a7
 ,9 g5]al ,! ,commission1 9 consultation
 ) ! ,inve/or ,advocate & ! ,advocate = 
,small ,bus9ess ,capital ,=mation1 may1 
aft] consid]+ all comm5ts receiv$ "u    
subsection 7c7 & only if ! ,commission  
det]m9es 9 su* report t ! am5dm5ts made 
by section #b h _h a demon/rable effect 
on increas+ ! geographic di/ribution (  
capital to portfolio companies1 increas+
 ! v>iety ( ! socio-economic *>act]i/ics
 ( f\nd]s or controll+ p]sons1 or       
increas+ ! numb] ( f\nd]s or controll+  
p]sons :o are vet]ans1 issue rules to-- 
7,a7 increase or decrease ! #ejj p]son  

?re%old describ$ 9 ! matt] prec$+       
subp>agraph 7,a7 ( section #c7;c77#a7 ( 
! ,inve/m5t ,company ,act ( #aidj1 b su*
 ?re%old may n exce$ #gej p]sons or be  
r$uc$ bel[ #bej p]sons2 &  7,b7 increase
 or decrease ! #ej1jjj1jjj doll> figure 
9 section #c7;c77#a77;,c77i7 ( !        
,inve/m5t ,company ,act ( #aidj1 b su*  
doll> figure may n exce$ #ajj1jjj1jjj or
 be r$uc$ bel[ #aj1jjj1jjj4  7#b7       
,deadl9e = rulemak+ ,! rulemak+ au?ority
 9 p>agraph 7#a7 only applies to a rule 
) respect to :i* ! propos$ rule 0 issu$ 
dur+ ! #ahj-;day p]iod beg9n+ at ! end (
 ! public comm5t p]iod describ$ 9       
subsection 7c74  7#c7 ,no effect on     
inflation adju/m5ts ,a rule issu$ "u ?is
 subsection %all h no effect on !       
requirem5t "u clause 7i7 ( section      
#c7;c77#a77;,c7 ( ! ,inve/m5t ,company  
,act ( #aidj 7#ae ,u4,s4,c4             
#hj;a-#c7;c77#a77;,c77 to index ! fir/  
doll> am\nt 9 su* clause = inflation4   
,septemb] #h1 #bjbe,report$ ) an        
am5dm5t1 committ$ to ! ,committee ( !   

,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$