H.R. 4498: Helping Angels Lead Our Startups (HALOS) Act

By SBE Council at 1 March, 2016, 10:58 am

UPDATE: On April 27, 2016 the U.S. House passed H.R. 4498 by a vote of 325-89.

On March 2, 2016 the House Financial Services Committee reported H.R. 4498 favorably, 44-13.

The Honorable Robert Hurt

U.S. House of Representatives

Washington, DC 20515

The Honorable Kyrsten Sinema

U.S. House of Representatives

Washington, DC 20515

The Honorable Steve Chabot

U.S. House of Representatives

Washington, DC 20515

The Honorable Mark Takai

U.S. House of Representatives

Washington, DC 20515

Dear Representatives Hurt, Sinema, Chabot and Takai:

The 100,000 members of Small Business & Entrepreneurship Council (SBE Council) are pleased to support H.R. 4498, the Helping Angels Lead Our Startups (HALOS) Act.

The Jumpstart Our Business Startups (JOBS) Act has provided new and efficient opportunities for startups and small businesses to access capital. The HALOS Act will strengthen the JOBS Act’s intention by clarifying that startups and entrepreneurs can continue to showcase their ideas and businesses at events designed to connect these small companies with Angel investors. Uncertainty and ambiguity should not undermine the JOBS Act’s goals, or the opportunity for entrepreneurs to build relationships with potential investors. H.R. 4498 clarifies the rules about “demo days” and similar platforms that are helping entrepreneurs make connections and fund their enterprises.

The HALOS Act will create opportunities for America’s entrepreneurs to compete, grow and create quality jobs. Thank you for your leadership on this important issue for small businesses.

Sincerely,

Karen Kerrigan, President & CEO

cc: House Financial Services Committee Members