[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4568 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4568

  To enhance the ability of smaller reporting companies to access the 
    public securities markets by allowing forward incorporation by 
 reference on Form S-1, to add listing and registration of a class of 
   common equity securities on a national securities exchange as an 
additional basis for satisfying the requirements of General Instruction 
 I.B.1. of Form S-3, and to remove such listing and registration as a 
        requirement of General Instruction I.B.6. of such form.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 6, 2014

 Mrs. Wagner introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
  To enhance the ability of smaller reporting companies to access the 
    public securities markets by allowing forward incorporation by 
 reference on Form S-1, to add listing and registration of a class of 
   common equity securities on a national securities exchange as an 
additional basis for satisfying the requirements of General Instruction 
 I.B.1. of Form S-3, and to remove such listing and registration as a 
        requirement of General Instruction I.B.6. of such form.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Freedom to Grow Act 
of 2014''.

SEC. 2. FORWARD INCORPORATION BY REFERENCE FOR FORM S-1.

    Not later than 45 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise Form S-1 so as to 
permit a smaller reporting company to incorporate by reference in a 
registration statement filed on such form any documents that such 
company files with the Commission after the effective date of such 
registration statement.

SEC. 3. EXPANDED ELIGIBILITY FOR USE OF FORM S-3.

    Not later than 45 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise Form S-3--
            (1) so as to permit securities to be registered pursuant to 
        General Instruction I.B.1. of such form provided that either--
                    (A) the aggregate market value of the voting and 
                non-voting common equity held by non-affiliates of the 
                registrant is $75,000,000 or more; or
                    (B) the registrant has at least one class of common 
                equity securities listed and registered on a national 
                securities exchange; and
            (2) so as to remove the requirement of paragraph (c) from 
        General Instruction I.B.6. of such form.

SEC. 4. SMALLER REPORTING COMPANY DEFINED.

    In this Act, the term ``smaller reporting company'' has the meaning 
given such term in section 230.405 of title 17, Code of Federal 
Regulations.
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