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H.R. 4429: Developing and Empowering our Aspiring Leaders Act of 2025

119th Congress · introduced 2025-07-16 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

What does this mean?

Official title

Developing and Empowering our Aspiring Leaders Act of 2025

Plain summary

Developing and Empowering our Aspiring Leaders Act of 2025 This bill directs the Securities and Exchange Commission to revise venture capital investment regulations to allow additional types of investments to be considered as qualifying investments. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current regulations, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Developing and Empowering our Aspiring Leaders Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Officials and money

Sponsor: Rep. Wagner, Ann [R-MO-2] · 1 cosponsors

Cost estimate: CBO cost estimate: H.R. 4429, Developing and Empowering our Aspiring Leaders Act of 2025 (2026-01-13)

Cosponsors on this site

Sean Casten (D-IL)

Sponsor's campaign money: Rep. Wagner, Ann [R-MO-2] reported raising $4.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Words on this page, explained (4)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption
A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr4429 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills