3.0.0 1962 2022-02-03T05:54:15Z 2022-02-03T05:54:15Z Senate S S 2011-12-07 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2011-12-07T23:07:57Z Startup Expansion and Investment Act 112 2941 HR 2011-10-04 Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Related bill CRS 2011-12-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2011-12-07 Introduced in Senate IntroReferral 10000 9 Library of Congress D000595 Sen. DeMint, Jim [R-SC] James DeMint R SC W. N B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2011-12-07 True Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Corporate finance and management Securities and Exchange Commission (SEC) Small business Finance and Financial Sector 00 2011-12-07 Introduced in Senate 2012-03-07T19:43:52Z 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.

]]> Startup Expansion and Investment Act Short Titles as Introduced Startup Expansion and Investment Act Display Title Startup Expansion and Investment Act Official Title as Introduced A bill to make the internal control reporting and assessment requirements of the Sarbanes-Oxley Act of 2002 optional for certain smaller companies. Introduced in Senate 2011-12-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s1962is/xml/BILLS-112s1962is.xml 2011-12-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.