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January 13, 2017
Types : Bylined Articles
On Tuesday, January 10, the U.S. House of Representatives once again passed a bill designed to make it easier for angel investors to fund startups. Although a version of the bill died in the U.S. Senate last year, the Helping Angels Lead Our Startups Act (“HALOS Act”) passed with solid bipartisan support in the House this time around. The final vote stood at 344-73 with no Republicans voting against the bill, and with 108 Democrats in favor and 73 against. The HALOS Act, sponsored by House Small Business Committee Chairman Rep. Steve Chabot (R-Ohio), addresses an important issue regarding when a business may make a pitch to potential investors without breaking securities laws.