HR 4429 119th Congress

Developing and Empowering our Aspiring Leaders Act of 2025

Latest Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Congress.gov

Sponsors

Rep. Wagner, Ann [R-MO-2]

Rep. Wagner, Ann [R-MO-2]

R — MO

Summary

Developing and Empowering our Aspiring Leaders Act of 2025 This bill directs the Securities and Exchange Commission to revise venture capital investment regulations to allow additional types of investments to be considered as qualifying investments. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current regulations, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.

Actions

2025-12-02T00:00:00

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-12-01T00:00:00

Motion to reconsider laid on the table Agreed to without objection.

2025-12-01T00:00:00

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4949)

2025-12-01T00:00:00

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4949)

2025-12-01T00:00:00

DEBATE - The House proceeded with forty minutes of debate on H.R. 4429.

2025-12-01T00:00:00

Considered under suspension of the rules. (consideration: CR H4948-4950)

2025-12-01T00:00:00

Mr. Davidson moved to suspend the rules and pass the bill, as amended.

2025-09-08T00:00:00

Placed on the Union Calendar, Calendar No. 203.

2025-09-08T00:00:00

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.

2025-09-08T00:00:00

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.

2025-07-22T00:00:00

Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 2.

2025-07-22T00:00:00

Committee Consideration and Mark-up Session Held

2025-07-16T00:00:00

Referred to the House Committee on Financial Services.

2025-07-16T00:00:00

Introduced in House

2025-07-16T00:00:00

Introduced in House

Policy Areas

Finance and Financial Sector

Track this bill on CivicBeacon

Get push notifications when this bill is updated, contact your reps, and take action.

Download on the App Store Get it on Google Play