HR 5910 · 117th Congress · Finance and Financial Sector

Holding SPACs Accountable Act of 2021

Introduced 2021-11-09· Sponsored by Del. San Nicolas, Michael F. Q. [D-GU-At Large]· House

Bill Progress

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Introduced
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Committee
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House Vote
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Senate
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Enacted
Latest: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 23.(2021-11-16)

Plain Language Summary

[AI summary unavailable — showing source text] Holding SPACs Accountable Act of 2021 This bill revises the exclusion from safe harbor protections from liability applicable to forward-looking statements (i.e., statements that predict, project, or use future events as expectations or possibilities) made in connection with certain investments. Specifically, it excludes from the safe harbor a development stage company that has no specific business plan or purpose or has indicated that its business plan is to acquire or merge with an unidentified company, entity, or person (e.g., a special purpose acquisition company).…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 5910, Holding SPACs Accountable Act of 2021

Jul 6, 2022

As ordered reported by the House Committee on Financial Services on November 16, 2021

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office