WASHINGTON—A bipartisan group of lawmakers led by Small Business Committee Chairman Steve Chabot (R-Ohio) today introduced legislation that helps startup companies access early capital.
H.R. 4498, the Helping Angels Lead Our Startups (HALOS) Act, clarifies one of the intentions of the 2012 JOBS Act by allowing angel investor groups established by organizations such as local governments, non-profits, and universities to hold events designed to let entrepreneurs showcase their work and connect with potential backers.
“When entrepreneurs are looking for ways to access the capital they need to get started, they look at every avenue available to them,” said Chairman Chabot. “If we’re going to help open doors for the next generation, we need to take the same approach. Clarifying the law to give entrepreneurs and investors more certainty and opportunity is a step in the right direction.”
Chabot was joined in introducing this legislation by Rep. Robert Hurt (R-VA), Rep. Mark Takai (D-HI), and Rep. Kyrsten Sinema (D-AZ).