Bill Sponsor
House Bill 2603
118th Congress(2023-2024)
To require the Securities and Exchange Commission to revise certain thresholds related to smaller reporting companies, accelerated filers, and large accelerated filers, and for other purposes.
Introduced
Introduced
Introduced in House on Apr 13, 2023
Overview
Text
Introduced
Apr 13, 2023
Latest Action
Apr 13, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2603
Congress
118
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Missouri
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

This bill requires the Securities and Exchange Commission (SEC) to increase threshold amounts that qualify companies as smaller reporting companies, accelerated filers, and large accelerated filers for purposes of SEC reporting requirements. The bill (1) increases the revenue and public float amounts under which a company qualifies as a smaller reporting company, (2) changes threshold requirements for smaller reporting companies from annual revenues to three-year rolling average revenues, (3) increases the aggregate worldwide market value of equity for a company to qualify as a large accelerated filer, (4) increases the market values below which a company exits accelerated filer or large accelerated filer status, and (5) excludes smaller reporting companies from status as accelerated filers or large accelerated filers. 

Text (1)
April 13, 2023
Actions (2)
04/13/2023
Referred to the House Committee on Financial Services.
04/13/2023
Introduced in House
Public Record
Record Updated
Feb 6, 2024 7:38:08 PM