Summary

To increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies. Read More

Status

This bill was enacted after being signed by the President on Apr 5, 2012.

Date Introduced
Dec 8, 2011

Co-Sponsors

r-33
d-20

Bill Text

A BILL

To increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Reopening American Capital Markets to Emerging Growth Companies Act of 2011''.

SEC. 2. DEFINITIONS.

(a) Securities Act of 1933.--Section 2(a) of the Securities Act of 1933 (15 U.S.C. 77b(a)) is amended by adding at the end the following: ``(19) The term `emerging growth company' means an issuer that had total annual gross revenues of less than $1,000,000,000 during its most recently completed fiscal year. An issuer that is an emerging growth company as of the first day of that fiscal year shall continue to be deemed an emerging growth company until the earliest of-- ``(A) the last day of the fiscal year of the issuer during which it had total annual gross revenues of $1,000,000,000 or more; ``(B) the last day of the fiscal year of the issuer following the fifth anniversary of the date of the first sale of common equity securities of the issuer pursuant to an effective registration statement under this title; and ``(C) the date on which such issuer is deemed to be a `large accelerated filer', as defined in section 240.12b-2 of title 17 of the Code of Federal Regulations, or any successor thereto.''. (b) Securities Exchange Act of 1934.--Section 3(a) of the Securities...

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Organizations Supporting

The Administration supports House passage of the Rules Committee Print of H.R. 3606. Helping startups and small businesses succeed and create jobs is fundamental to having an economy built to last. The President outlined a number of ways to help small businesses grow and become more competitive in his September 8, 2011, address to a Joint Session of Congress on jobs and the economy, as well as in the Startup America Legislative Agenda he sent to the Congress last month. In both the speech and the agenda, the President called for cutting the red tape that prevents many rapidly growing startup companies from raising needed capital. The President is encouraged to see that there is common ground between his approach and some of the proposals in H.R. 3606. The Administration looks forward to continuing to work with the House and the Senate to craft legislation that facilitates capital formation and job growth for small businesses and provides appropriate investor protections. http://www.whitehouse.gov/sites/default/files/omb/legislative/sap/112/saphr3606h_20120306.pdf

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Bill Summary

To increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies.

H.R. 3605 Global Online Freedom Act of 2011 H.R. 3607 National Freight Mobility Infrastructure Act