S. 1962 · 112th Congress
Startup Expansion and Investment Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
DeMintSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Startup Expansion and Investment Act - Amends the Sarbanes-Oxley Act of 2002 to revise an exception to rules prescribed by the Securities and Exchange Commission (SEC) that require the annual reports of certain publicly traded securities issuers to contain: (1) an assessment of the issuer's internal control structure and procedures for financial reporting,…
What it does: CRS summary · Introduced in Senate · Dec 7, 2011
Startup Expansion and Investment Act - Amends the Sarbanes-Oxley Act of 2002 to revise an exception to rules prescribed by the Securities and Exchange Commission (SEC) that require the annual reports of certain publicly traded securities issuers to contain: (1) an assessment of the issuer's internal control structure and procedures for financial reporting, and (2) an attestation to such assessment by each registered public accounting firm that prepares or issues an audit report for the issuer.
Permits an issuer to elect not to provide such an assessment and attestation if the issuer: (1) has a total market capitalization for the relevant reporting period of less than $1 billion, and (2) is not subject to the annual reporting requirement under the Securities Exchange Act of 1934. (Current law exempts issuers with an aggregate worldwide market value of the voting and non-voting common equity held by its non-affiliates of below $75 million, as of the last business day of the issuer's most recently completed second fiscal quarter.)
Requires an issuer electing not to provide such assessment and attestation to disclose that decision in its next annual report.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Startup Expansion and Investment Act
Latest action (Dec 7, 2011): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Dec 7, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.