Press Releases

HALOS Act Wins Bipartisan Support, Advances to U.S. Senate

Watch Chairman Chabot’s full remarks HERE.

WASHINGTON – The U.S. House has passed Small Business Committee Chairman Chabot’s bipartisan legislation to help startup companies access early capital. H.R. 79, the Helping Angels Lead Our Startups (HALOS) Act, was passed by a vote of  344 to 73.

“One popular way small businesses connect with angel investors is through ‘demo days,’” said Chairman Chabot (R-Ohio). “These exciting events are sponsored by universities, non-profits, local governments, or other groups, that allow entrepreneurs to showcase their products and informally meet investors and customers.”

“SEC regulations are threatening to force these events out of business by imposing unwieldy regulations dictating who is and who is not allowed to simply attend,” Chabot explained. “We must continue to work together to create an environment where our small businesses, the engines of our economy, grow and flourish. This bill is one more step in that direction.”

BACKGROUND:

• Chairman Chabot will be speaking at the American Enterprise Institute (AEI) this Thursday on the Committee’s plans to provide regulatory relief for small businesses in the 115^th Congress.

• Chairman Chabot’s HALOS Act is identified as a way to create opportunities for new entrepreneurs in House Republicans’ Better Way plan for the economy.

• The bill, which now moves to the U.S. Senate for consideration, builds on a provision of the 2012 JOBS Act by allowing angel investor groups established by local governments, non-profits, universities and other organizations to host events designed to let entrepreneurs showcase their work and connect with potential backers.