# 116-hr-6403: New Business Preservation Act

116-hr-6403, New Business Preservation Act, is a 116th Congress bill sponsored by Rep. Phillips, Dean [D-MN-3] (D-MN); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-6403
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-6403
- Congress: 116
- Title: New Business Preservation Act
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-03-26
- Sponsor: Rep. Phillips, Dean [D-MN-3] (D-MN)
- Cosponsors: 4
- Policy area: Commerce
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

New Business Preservation Act This bill establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury shall work with states to invest in new businesses. Specifically, the bill requires Treasury to provide certain funds to participating states, which such states shall use to administer specified approved programs that provide equity investment in new businesses. Certain areas with high levels of venture capital activity are excluded from the calculation of funds allocated to a participating state. Treasury shall also award funds to approved state programs to provide follow-on investments. If a state receives funds from an exit, the state shall use such funds to further invest in startups under the approved program. An exit is defined as the (1) acquisition of a startup in which a state has invested under the program; (2) sale of a share of such startup following an initial public offering; or (3) voluntary purchase of a state's ownership interest by the startup, investors, or existing shareholders.

## Cosponsors (4)

- Rep. Khanna, Ro [D-CA-17] (D-CA), 2020-03-26T00:00:00.000Z
- Rep. Ryan, Tim [D-OH-13] (D-OH), 2020-03-26T00:00:00.000Z
- Rep. Sewell, Terri A. [D-AL-7] (D-AL), 2020-03-26T00:00:00.000Z
- Rep. Rouda, Harley [D-CA-48] (D-CA), 2020-05-28T00:00:00.000Z

## Related bills

- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-8015: Delivering for America Act
- 116-hr-7806: SOS Act
- 116-hr-7673: Represent America Abroad Act of 2020
- 116-hr-7642: Coronavirus Economic Relief for Transportation Services Act
- 116-hr-7232: Juneteenth National Independence Day Act

## Sources
- [116-hr-6403 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/6403)

## Related
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-8015: Delivering for America Act](https://policyrisk.com/legislation/116-hr-8015)
- [116-hr-7806: SOS Act](https://policyrisk.com/legislation/116-hr-7806)
- [116-hr-7673: Represent America Abroad Act of 2020](https://policyrisk.com/legislation/116-hr-7673)
- [116-hr-7642: Coronavirus Economic Relief for Transportation Services Act](https://policyrisk.com/legislation/116-hr-7642)
- [116-hr-7232: Juneteenth National Independence Day Act](https://policyrisk.com/legislation/116-hr-7232)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-6403 (as of 2025-11-18).