H.R. 79: Helping Angels Lead Our Startups Act (HALOS Act)

By SBE Council at 9 January, 2017, 9:00 am

UPDATE: On January 10, 2017 the U.S. House passed H.R. 79 by a vote of 344-73

The Honorable Steve Chabot

Chairman

Committee on Small Business

U.S. House of Representatives

Washington, D.C. 20515

The Honorable Kyrsten Sinema

U.S. House of Representatives

Washington, D.C. 20515

Dear Chairman Chabot and Representative Sinema:

The 100,000 members of Small Business & Entrepreneurship Council (SBE Council) are pleased to support H.R. 79, the Helping Angels Lead Our Startups (HALOS) Act.

The Jumpstart Our Business Startups (JOBS) Act is providing open and efficient opportunities for startups and small businesses to access capital. The HALOS Act builds upon this groundbreaking law by clarifying that startups and entrepreneurs can showcase their ideas and businesses at events designed to connect them with potential investors.

Ambiguity about existing rules and red tape should not undermine the opportunity for entrepreneurs to connect with potential investors. H.R. 79 clarifies the rules about “demo days” and similar events hosted by universities, government, accelerators and other entities that help entrepreneurs network, make connections, and identify funding for their enterprises.

The HALOS Act is a common sense measure that will create opportunities for America’s entrepreneurs to raise capital and help our economy grow. Thank you for your leadership on this important issue for our nation’s small businesses and entrepreneurs.

Sincerely,

Karen Kerrigan, President & CEO

cc: Members of the U.S. House of Representatives