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House Bill 76

Actions | Amendments

Last Action	signed by Governor (Acts, ch. 024)
Title	AN ACT relating to securities.
Bill Documents	Bill
Bill Request Number	141
Sponsors	S. Riggs, J. Miller, B. Montell, R. Palumbo
Summary of Original Version	Create a new section of KRS 292.410 to 291.415 to establish requirements for an exemption to the Securities Act of 1933 for investments not to exceed $10,000 by Kentucky residents via the Internet, offered by an issuer that is a business entity organized and authorized under Kentucky law and in accordance with the Federal Jobs Act of 2012, with the total of investments not to exceed a total of $1 million or $2 million depending on whether the issuer has undergone a financial audit for the recently completed fiscal year; create a new section of KRS 292.410 to 291.415 to establish requirements for Internet Web site operators who operate a Web site for the sale of securities, pursuant to Section 1 of this Act, including registration with and examination by the commissioner of the Department of Financial Institutions; designate the Acts as the Kentucky Intrastate Crowdfunding Exemption.
Index Headings of Original Version	Federal Laws and Regulations - Securities Act of 1933, crowdfunding, exemption Notices - Crowdfunding, exemption to Securities Act of 1933, investors, required Public Safety - Crowdfunding exemption, investor protections Banks and Financial Institutions - Securities, crowdfunding, exemption
Proposed Amendments	House Committee Substitute 1 Senate Committee Substitute 1
Votes	Vote History

Actions

Top | Amendments

12/09/14	Prefiled by the sponsor(s).
01/06/15	introduced in House to Banking & Insurance (H)
02/06/15	posted in committee
02/11/15	reported favorably, 1st reading, to Consent Calendar with Committee Substitute
02/12/15	2nd reading, to Rules posted for passage in the Consent Orders of the Day for Tuesday, February 17, 2015 taken from the Consent Orders of the Day, placed in the Regular Orders of the Day for Friday, February 13, 2015
02/13/15	3rd reading, passed 96-0 with Committee Substitute received in Senate
02/19/15	to Banking & Insurance (S)
03/03/15	reported favorably, 1st reading, to Consent Calendar with Committee Substitute
03/04/15	2nd reading, to Rules
03/09/15	posted for passage in the Consent Orders of the Day for Monday, March 9, 2015 passed over and retained in the Consent Orders of the Day
03/11/15	3rd reading, passed 36-0 with Committee Substitute received in House to Rules (H) posted for passage for concurrence in Senate Committee Substitute House concurred in Senate Committee Substitute Bill passed 96-0 enrolled, signed by each presiding officer delivered to Governor
03/19/15	signed by Governor (Acts, ch. 024)

Proposed Amendments

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Amendment	House Committee Substitute 1
Summary	Make technical corrections.
Index Headings	Federal Laws and Regulations - Securities Act of 1933, crowdfunding, exemption Notices - Crowdfunding, exemption to Securities Act of 1933, investors, required Public Safety - Crowdfunding exemption, investor protections Banks and Financial Institutions - Securities, crowdfunding, exemption

Amendment	Senate Committee Substitute 1
Summary	Keep original provisions, but add language disclosing to investors that they may lose their entire investment.
Index Headings	Federal Laws and Regulations - Securities Act of 1933, crowdfunding, exemption Notices - Crowdfunding, exemption to Securities Act of 1933, investors, required Public Safety - Crowdfunding exemption, investor protections Banks and Financial Institutions - Securities, crowdfunding, exemption

Last updated: 1/16/2019 3:10 PM (EST)