H.R. 935 · 117th Congress

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

Introduced on Feb 8, 2021 by Bill Huizenga (R-MI-2). 3 cosponsors, 2 of them from another party. Latest action (May 12, 2022): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Passed one chamber
Introduced
Feb 8, 2021
Cosponsors
3
2 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies.

Subjects

  • Banking and financial institutions regulation
  • Business records
  • Corporate finance and management
  • Licensing and registrations
  • Securities
  • Small business

Summary

By the Congressional Research Service (Passed House, May 11, 2022). Public domain.

Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021

This bill exempts from securities registration requirements certain merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. However, this exemption shall not apply to certain brokers, including those that provide financing related to the transfer of ownership, engage on behalf of any party in a transaction involving specified shell companies, or have been barred or suspended from association with a broker or dealer.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Bill HuizengaR-MI-2Sponsor

Democrats · 2

Republicans · 1

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

  1. On Motion to Suspend the Rules and Pass, as Amended
    May 11, 2022· House· Passage· Passed 419–0

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Feb 8, 2021Introduced in House
  2. Feb 8, 2021Introduced in House
  3. Feb 8, 2021 · HouseReferred to the House Committee on Financial Services.
  4. Jul 28, 2021 · HouseCommittee Consideration and Mark-up Session Held.
  5. Jul 29, 2021 · HouseCommittee Consideration and Mark-up Session Held.
  6. Jul 29, 2021 · HouseOrdered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
  7. May 10, 2022Reported (Amended) by the Committee on Financial Services. H. Rept. 117-313.
  8. May 10, 2022 · HouseReported (Amended) by the Committee on Financial Services. H. Rept. 117-313.
  9. May 10, 2022 · HousePlaced on the Union Calendar, Calendar No. 233.
  10. May 10, 2022 · HouseMr. Garcia (IL) moved to suspend the rules and pass the bill, as amended.
  11. May 10, 2022 · HouseConsidered under suspension of the rules. (consideration: CR H4746-4748)
  12. May 10, 2022 · HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 935.
  13. May 10, 2022 · HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  14. May 11, 2022 · HouseConsidered as unfinished business. (consideration: CR H4837-4838)
  15. May 11, 2022Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 158).House · Roll call 158
  16. May 11, 2022 · HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 158). (text: 05/10/2022 CR H4746-4747)House · Roll call 158
  17. May 11, 2022 · HouseMotion to reconsider laid on the table Agreed to without objection.
  18. May 12, 2022 · SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. BA Securities, LLC6 reports
    $180K reported (all issues)
  2. Business Intermediary Education Foundation1 report

Reports filed in 2023, 2024, 2025.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.