The House approved the ABA-supported jobs package (H.R. 3606) this afternoon, by a strong bi-partisan vote of 380-41.
H.R. 3606 contains an ABA-supported bill to increase the threshold for SEC registration from the current 500 shareholders to 2,000 shareholders for financial institutions, and also raise the deregistration threshold from 300 to 1,200 shareholders.
Other bills in the package will permit small businesses to sell up to $50 million in shares before registering with the SEC and will increase the current threshold for such companies to 1,000 from 500.