Read Draft Legislation to Repeal & Fix Title III of the JOBS Act

Embedded below is the draft legislation submitted by Congressman Patrick McHenry to repeal Title III of the JOBS Act and fix what has been deemed a flawed bill.  Title III is the portion of the JOBS Act that deals with retail equity crowdfunding.

In brief the new draft bill will increase the funding amount to $3 million and eliminate many of the onerous provisions that are expected in final rules from the SEC.