Sec. 205. Guardrails around accessing public funds
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/bill/118/s/5333/is/section-205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ) is amended by adding at the end the following: Any person described in paragraph
(1)or
(7)of section 3(c) that receives funds from a Federal or State agency— shall publicly disclose— the total funds received from the agency; the workforce demographics of the person; the amount of loans, grants, or other benefits provided; the use of the proceeds; how many jobs were saved or wages preserved; any loans forgiven or discharged; the beneficial owners of the person; the pay ratio between the chief executive officer and the median pay of employees; and may not, during the 2-year period beginning on the date on which the person receives the funds— acquire any company; or make any distribution to a shareholder of the person. .
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- 15 USC 80a–1
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Sec. 205
Guardrails around accessing public funds
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