{"database": "press", "table": "releases", "rows": [["https://emmer.house.gov/media-center/press-releases/emmer-introduces-micro-offering-safe-harbor-act", "Emmer Introduces Micro Offering Safe Harbor Act", "2016-03-23", "2016", "2016-03", "Republican", "House", "MN", "Tom Emmer", "E000294", "emmer.house.gov", null, null, "legacy", "Washington, D.C. - Congressman Tom Emmer (MN-06) today introduced the Micro Offering Safe Harbor Act\u00a0which will help small businesses raise capital.\nThis legislation makes a simple technical amendment to the Securities Act of 1933 by defining exactly what qualifies under the \u201cnon-public offering\u201d exemption. This would allow small businesses to operate with confidence that they are not in violation of the law when doing a non-public securities offering if one or more of the following requirements are met:\n Each investor has a substantive pre-existing relationship with an owner,\u00a0\n\tThere are 35 or fewer purchasers, or\n\tThe amount does not exceed $500,000\n \u201cEntrepreneurs will be able to more easily launch their startups and existing businesses will have better prospects for growth,\u201d said Emmer. \u201cBy simply clarifying an old law, more small businesses will raise capital through non-public offerings, easing the burdens of red-tape, onerous paperwork, and the threat of lawsuits. Congress has much more work to do to fully unleash the American economic engine and this legislation is one of many steps I will take to help Minnesotans achieve the American Dream. With labor force participation at\u00a0an all time\u00a0low and many families still having less income than they had before the 2008 economic collapse, it is my duty to do everything I can to get America's economy firing on all cylinders.\u201d\nSeveral small business advocacy organizations have endorsed the Micro Offering Safe Harbor Act including the National Small Business Association and the Small Business & Entrepreneurship Council (SBEC). The SBEC stated, \u201cThe legislation would appropriately scale federal rules and regulatory compliance for small businesses, thus providing another practical option for entrepreneurs to raise the capital they need to startup or grow their firms.\u201d\nCoupled with Emmer\u2019s\u00a0CREATE Jobs Act which would make the income tax rate for many American businesses lower than their competition in other countries, the Micro Offering Safe Harbor Act is yet another sign that prospects for normal economic growth are here.\u00a0\nThe Micro Offering Safe Harbor is H.R. 4850. Click\u00a0here\u00a0to read the full text.\nRead what the Crowdfund Insider says about the bill. Click\u00a0here.\u00a0\nEmmer serves as a Member of the House Financial Services Committee\n  \n\t###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://emmer.house.gov/media-center/press-releases/emmer-introduces-micro-offering-safe-harbor-act"], "units": {}, "query_ms": 0.7921629585325718, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}