Improving Capital Allocation for Newcomers Act of 2021

Cost and committee reports

Official records Congress.gov attaches to H.R. 2790.

• Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. TIMMONS, as printed in the Congressional Record (Vol. 169, No. 66, April 20, 2023, Page H1912):
  The constitutional authority on which this bill rests is the power of Congress to make rules for the regulation of commerce, as enumerated in Article I, Section 8, Clause 3 of the United States Constitution. The single subject of this legislation is: This bill revises qualification requirements for venture capital funds. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 2,000 persons and $150 million, respectively.
  Source: Congress.gov, Congressional Record April 20, 2023 ↗

  Evidence

  Field in the Congress.gov record

  constitutionalAuthorityStatementText

  Statement length

  667 characters

  Congress.gov bill record

  H.R. 2790, 118th Congress

  Congress.gov API record

  https://api.congress.gov/v3/bill/118/hr/2790

  Record last updated by Congress.gov

  May 27, 2025

  PORKER copy retrieved

  September 14, 2026

  Stored copy, SHA-256 of the file

  fdfda464dd57a104db9bf883aebf4cfff9503a209700d23c7e2eb24c94dec3df

  PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.

Congress.gov’s record for this bill does not list a CBO cost estimate or a committee report (as of May 27, 2025). Not every bill gets one.

From the Congress.gov bill record for H.R. 2790, last updated May 27, 2025. PORKER’s copy was retrieved September 14, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.