[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4697 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4697

    To require the Securities and Exchange Commission to revise the 
  definition of a well-known seasoned issuer to reduce the worldwide 
              market value threshold under the definition.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 21, 2014

  Mr. McCarthy of California introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To require the Securities and Exchange Commission to revise the 
  definition of a well-known seasoned issuer to reduce the worldwide 
              market value threshold under the definition.

    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-Cap Access to Capital Act''.

SEC. 2. DEFINITION OF WELL-KNOWN SEASONED ISSUER.

    Not later than 60 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise its definition of a 
well-known seasoned issuer under section 230.405 of title 17, Code of 
Federal Regulations, to reduce the dollar amount under paragraph 
(1)(i)(A) of such definition (relating to worldwide market value of 
outstanding voting and non-voting common equity held by non-affiliates) 
from $700 million to $250 million and to prohibit an emerging growth 
company from qualifying as a well-known seasoned issuer.
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