Congressman Troy Downing of Montana’s 2nd Congressional District has announced the passage of H.R. 3383, known as the Increasing Investor Opportunities Act (INVEST Act). The legislation includes Downing’s own Expanding Access to Capital for Rural Job Creators Act.
“Rural small businesses are the backbone of Central and Eastern Montana,” said Congressman Downing. “By including my Expanding Access to Capital for Rural Job Creators Act, the INVEST Act directs the SEC’s Office of the Advocate for Small Business Capital Formation to finally give rural Main Street the attention and support it deserves. I’m proud to have championed this legislation, and I look forward to seeing it signed into law.”
The Expanding Access to Capital for Rural Job Creators Act will require the Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation to add rural small businesses to its list of entities considered in its annual reporting on access-to-capital challenges. Currently, this list includes minority-owned, women-owned, and disaster-stricken small businesses.
The broader INVEST Act aims to make it easier for small businesses nationwide to secure funding by reducing regulatory barriers and updating investment requirements. It also seeks to increase investment opportunities by revising who qualifies as an accredited investor and providing more protections against financial fraud targeting seniors. In addition, the act intends to streamline public market disclosure rules and modernize processes related to initial public offerings.
