Saturday, December 20, 2014

113th Congress: House-Passed JOBS Act Corrections and Job Creation Bills Not Taken up by Senate

Holding Company Registration Threshold Equalization Act, H.R. 801: Passed House 417-4 on January 14, 2014. Amends JOBS Act to raise the threshold for mandatory SEC registration of thrift institutions. bill was included as Title III of omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014).

Improving Access to Capital for Emerging Growth Companies Act, H.R. 3623: Passed as Title VI of omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014. Reduces from 21 to 15 the number of days before a "road show" that an emerging growth company , before its IPO date, may publicly file a draft registration statement for confidential nonpublic review by the SEC.

H.R. 701: Passed House 416-6. Requires the SEC to complete the regulations implementing the JOBS Act of 2012.

Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act, H.R. 2274: Passed House 422-0 on January 13, 2014. Exempts from SEC registration certain M&A brokers. (bill was included as Division II, Title I of the omnibus Jobs for America Act, H.R. 4, which passed House by a vote of 253-163 on September 18, 2014). (bill was included as Title IV of omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014).

Small Cap Liquidity Reform Act, H,R. 3448: Passed House 412-4 on February 11, 2014. Authorizes SEC tick size pilot program for emerging growth company stocks. (bill was included as Title V of omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014).

Disclosure Modernization and Simplification Act, H.R. 4569: Passed House by voice vote on December 2, 2014. Directs the SEC to adopt regulations allowing companies to include a summary page with Form 10-K and revising Regulation S-K to reduce the burden on smaller issuers, including emerging growth companies. (bill was included as Title X of omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014).

Small Company Disclosure Simplification Act, H.R. 4164: Passed as Title VII of the omnibus Job Creation and Reducing Small Business Burdens Act, H.R. 5405, which passed House by vote of 320-102 on September 16, 2014. Exempts emerging growth companies and companies with revenue under $250 million from XBRL requirement.

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