# 116-hr-8603: Developing and Empowering our Aspiring Leaders Act of 2020

116-hr-8603, Developing and Empowering our Aspiring Leaders Act of 2020, is a 116th Congress bill sponsored by Rep. Hollingsworth, Trey [R-IN-9] (R-IN); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-8603
- 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-8603
- Congress: 116
- Title: Developing and Empowering our Aspiring Leaders Act of 2020
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-10-16
- Sponsor: Rep. Hollingsworth, Trey [R-IN-9] (R-IN)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Developing and Empowering our Aspiring Leaders Act of 2020 This bill directs the Securities and Exchange Commission (SEC) to revise venture capital investment regulations. Specifically, the bill allows investments acquired through secondary transactions to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the investments predominately must be acquired directly. Under current law, non-qualifying investments—which include secondary transactions—may comprise up to 20% of a venture capital fund.

## Cosponsors (1)

- Rep. McAdams, Ben [D-UT-4] (D-UT), 2020-10-16T00:00:00.000Z

## Related bills

- 116-hr-6829: EMPIL–DOC Act
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-1754: Horseracing Integrity and Safety Act of 2020
- 116-hr-748: CARES Act
- 116-hr-8873: Investing in VETS Act
- 116-hr-8872: Transparency in Federal Home Loan Bank Membership Act of 2020

## Sources
- [116-hr-8603 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/8603)

## Related
- [116-hr-6829: EMPIL–DOC Act](https://policyrisk.com/legislation/116-hr-6829)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-1754: Horseracing Integrity and Safety Act of 2020](https://policyrisk.com/legislation/116-hr-1754)
- [116-hr-748: CARES Act](https://policyrisk.com/legislation/116-hr-748)
- [116-hr-8873: Investing in VETS Act](https://policyrisk.com/legislation/116-hr-8873)
- [116-hr-8872: Transparency in Federal Home Loan Bank Membership Act of 2020](https://policyrisk.com/legislation/116-hr-8872)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-8603 (as of 2025-11-18).