Simple Functions
LEGISLATION/H.R. 4429

Developing and Empowering our Aspiring Leaders Act of 2025

119-HR-4429119th CongressIntroduced Jul 16, 2025Finance and Financial Sector
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsor

Rep. Wagner, Ann [R-MO-2](R-MO-2)
1 cosponsor

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.

Subjects

Administrative law and regulatory proceduresFinancial services and investmentsSecuritiesSecurities and Exchange Commission (SEC)

Actions (15)

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 2, 2025Senate
Motion to reconsider laid on the table Agreed to without objection.
Dec 1, 2025House floor actions
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4949)
Dec 1, 2025House floor actions
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)
Dec 1, 2025Library of Congress
DEBATE - The House proceeded with forty minutes of debate on H.R. 4429.
Dec 1, 2025House floor actions
Considered under suspension of the rules. (consideration: CR H4948-4950)
Dec 1, 2025House floor actions
Mr. Davidson moved to suspend the rules and pass the bill, as amended.
Dec 1, 2025House floor actions
Placed on the Union Calendar, Calendar No. 203.
Sep 8, 2025House floor actions
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.
Sep 8, 2025House floor actions
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-246.
Sep 8, 2025Library of Congress
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 2.
Jul 22, 2025House committee actions
Committee Consideration and Mark-up Session Held
Jul 22, 2025House committee actions
Referred to the House Committee on Financial Services.
Jul 16, 2025House floor actions
Introduced in House
Jul 16, 2025Library of Congress
Introduced in House
Jul 16, 2025Library of Congress
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