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Bill114th CongressFiled Apr 28, 2015Finance and Financial Sector
H.R. 2064

Improving Access to Capital for Emerging Growth Companies Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jul 14, 2015)

Improving Access To Capital For Emerging Growth Companies Act

(Sec. 2) Amends the Securities Act of 1933 to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by the SEC.

(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)

(Sec. 3) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement (or, in lieu of that, a publicly filed registration statement) for SEC review, but ceases to be an EGC, shall continue to be treated as an emerging market growth company for one year or, if earlier, until consummation of its IPO.

(Sec. 4) Amends the Jumpstart Our Business Startups Act to direct the SEC to prescribe conditions under which a registration statement filed (or submitted for confidential review) by an issuer before its IPO may omit financial disclosure information for historical periods otherwise required.

What just happenedJul 15, 2015

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Fincher, Stephen Lee [R-TN-8](R-TN)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors2committees16actions3related bills4subjects
  1. Jul 15, 2015IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. Jul 14, 2015FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 14, 2015FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5147-5148)

  4. Jul 14, 2015Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H5147-5148)

  5. Jul 14, 2015FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 2064.

  6. Jul 14, 2015FloorH30000

    Considered under suspension of the rules. (consideration: CR H5147-5149)

  7. Jul 14, 2015FloorH30300

    Mr. Hurt (VA) moved to suspend the rules and pass the bill, as amended.

  8. Jul 14, 2015CalendarsH12410

    Placed on the Union Calendar, Calendar No. 152.

  9. Jul 14, 2015CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-203.

    Financial Services Committee
  10. Jul 14, 2015Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-203.

    Financial Services Committee
  11. May 20, 2015Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.

    Financial Services Committee
  12. May 20, 2015Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  13. Apr 29, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Capital Markets Subcommittee
  14. Apr 28, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  15. Apr 28, 2015IntroReferralIntro-H

    Introduced in House

  16. Apr 28, 2015IntroReferral1000

    Introduced in House

Passed House amendedJul 14, 201536

Improving Access To Capital For Emerging Growth Companies Act

(Sec. 2) Amends the Securities Act of 1933 to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by the SEC.

(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)

(Sec. 3) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement (or, in lieu of that, a publicly filed registration statement) for SEC review, but ceases to be an EGC, shall continue to be treated as an emerging market growth company for one year or, if earlier, until consummation of its IPO.

(Sec. 4) Amends the Jumpstart Our Business Startups Act to direct the SEC to prescribe conditions under which a registration statement filed (or submitted for confidential review) by an issuer before its IPO may omit financial disclosure information for historical periods otherwise required.

Introduced in HouseApr 28, 2015

Improving Access To Capital For Emerging Growth Companies Act

Amends the Securities Act of 1933 to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by the SEC.

(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)

Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement (or, in lieu of that, a publicly filed registration statement) for SEC review, but ceases to be an EGC, shall continue to be treated as an emerging market growth company for one year or, if earlier, until consummation of its IPO.

Amends the Jumpstart Our Business Startups Act to direct the SEC to prescribe conditions under which a registration statement filed (or submitted for confidential review) by an issuer before its IPO may omit financial disclosure information for historical periods otherwise required.

Improving Access to Capital for Emerging Growth Companies Act — Informed