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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
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Introduced in House 
Apr 13, 2023
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Introduced in House(Apr 13, 2023)
Apr 13, 2023
No Linkage Found
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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H. R. 2603 (Introduced-in-House)


118th CONGRESS
1st Session
H. R. 2603


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.

IN THE HOUSE OF REPRESENTATIVES

April 13, 2023

Mr. Luetkemeyer introduced the following bill; which was referred to the Committee on Financial Services

A BILL

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.

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

SECTION 1. Smaller reporting company, accelerated filer, and large accelerated filer thresholds.

(a) Smaller reporting companies.—

(1) IN GENERAL.—The Securities and Exchange Commission shall revise the definition of a “smaller reporting company” under section 229.10(f)(1) of title 17, Code of Federal Regulations—

(A) in paragraph (i), by adjusting the public float threshold from $250,000,000 to $500,000,000; and

(B) in paragraph (ii)—

(i) by adjusting the annual revenue threshold from $100,000,000 to $250,000,000; and

(ii) in paragraph (B), by adjusting the public float threshold from $700,000,000 to $900,000,000.

(2) USE OF THREE-YEAR ROLLING AVERAGE REVENUES.—The Securities and Exchange Commission shall revise paragraphs (1)(ii) and (2)(iii)(B) under the definition of “smaller reporting company” under section 229.10(f)(1) of title 17, Code of Federal Regulations, by substituting “three-year rolling average revenues” for “annual revenues”.

(3) CONFORMING CHANGES.—The Securities and Exchange Commission shall revise the definition of a “smaller reporting company” under sections 230.405 and 240.12b–2 of title 17, Code of Federal Regulations, and any other rule of the Commission in the same manner as such definition is revised under paragraphs (1) and (2).

(b) Accelerated filers and large accelerated filers.—

(1) LARGE ACCELERATED FILER.—The Securities and Exchange Commission shall revise the definition of a “large accelerated filer” under section 240.12b–2(2) of title 17, Code of Federal Regulations, to increase the threshold amount (for the aggregate worldwide market value of the voting and non-voting common equity held by non-affiliates of an issuer) from $700,000,000 to $750,000,000.

(2) THRESHOLD TO EXIT ACCELERATED FILER STATUS.—The Securities and Exchange Commission shall revise section 240.12b–2(3)(ii) of title 17, Code of Federal Regulations, to increase the threshold amount (for the aggregate worldwide market value of the voting and non-voting common equity held by non-affiliates of an issuer) at which an issuer is no longer an accelerated filer from $60,000,000 to $75,000,000.

(3) THRESHOLD TO EXIT LARGE ACCELERATED FILER STATUS.—The Securities and Exchange Commission shall revise section 240.12b–2(3)(iii) of title 17, Code of Federal Regulations, to increase the threshold amount (for the aggregate worldwide market value of the voting and non-voting common equity held by non-affiliates of an issuer) at which an issuer is no longer a large accelerated filer from $560,000,000 to $750,000,000.

(4) EXCLUSION OF SMALLER REPORTING COMPANIES.—The Securities and Exchange Commission shall revise the definitions of an “accelerated filer” and a “large accelerated filer” under paragraphs (1) and (2) of section 240.12b–2 of title 17, Code of Federal Regulations, respectively, to exclude any issuer that is a smaller reporting company, as defined under section 229.10(f)(1) of title 17, Code of Federal Regulations.