1. Short title This Act may be cited as the Crowdfunding Enhancement Act . 2. Crowdfunding vehicles (a) Amendments to the Securities Act of 1933 The Securities Act of 1933 ( 15 U.S.C. 77a et seq.) is amended— (1) in section 4A(f)(3) ( 15 U.S.C. 77d–1(f)(3) ), by inserting by any of paragraphs (1) through (14) of before section 3(c) ; and (2) in section 4(a)(6)(B) ( 15 U.S.C. 77d(a)(6)(B) ), by inserting , other than a crowdfunding vehicle (as defined in section 2(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a) )), after any investor . (b) Amendments to the Investment Company Act of 1940 The Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq.) is amended— (1) in section 2(a) ( 15 U.S.C. 80a–2(a) ), by adding at the end the following: (55) The term crowdfunding vehicle means a company— (A) whose purpose (as set forth in its organizational documents) is limited to acquiring, holding, and disposing securities issued by a single company in one or more transactions and made pursuant to section 4(a)(6) of the Securities Act of 1933 ( 15 U.S.C. 77d(a)(6) ); (B) that issues only 1 class of securities; (C) that receives no compensation in connection with such acquisition, holding, or disposition of securities; (D) no associated person of which receives any compensation in connection with such acquisition, holding or disposition of securities unless such person is acting as or on behalf of an investment adviser registered under the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–1 et seq.) or registered as an investment adviser in the State in which the investment adviser maintains its principal office and place of business; (E) the securities of which have been issued in a transaction made pursuant to section 4(a)(6) of the Securities Act of 1933 ( 15 U.S.C. 77d(a)(6) ), if both the crowdfunding vehicle and the company whose securities it holds are co-issuers; (F) that is current in its ongoing disclosure obligations under section 227.202 of title 17, Code of Federal Regulations