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H. Rept. 118-78 1 (2023-05-30)

handle is hein.congrecreports/crptxafjh0001 and id is 1 raw text is: AUTHENTICATED U.GOVERNMENT INFORMATION . 118TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 118-78 PROMOTING OPPORTUNITIES FOR NON-TRADITIONAL CAPITAL FORMATION ACT MAY 30, 2023.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. MCHENRY, from the Committee on Financial Services, submitted the following R E P O R T [To accompany H.R. 2796] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 2796) to amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to pro- vide educational resources and host events to promote capital rais- ing options for traditionally underrepresented small businesses, and for other purposes, having considered the same, reports favor- ably thereon with an amendment and recommends that the bill as amended do pass. The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Promoting Opportunities for Non-Traditional Cap- ital Formation Act. SEC. 2. PROMOTING CAPITAL RAISING OPTIONS FOR TRADITIONALLY UNDERREPRESENTED SMALL BUSINESSES. Section 4(j)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78d(j)(4)) is amended- (1) in subparagraph (G), by striking and at the end; (2) in subparagraph (H), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (I) provide educational resources and host events to raise awareness of capital raising options for- (i) underrepresented small businesses, including women-owned and minority-owned small businesses; (ii) businesses located in rural areas; and (iii) small businesses affected by hurricanes or other natural disas- ters; and 39-006