[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5051 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5051

To amend the Securities Exchange Act of 1934 to revise the shareholder 
   threshold for registration under such Act, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 15, 2018

  Mr. Duffy introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
To amend the Securities Exchange Act of 1934 to revise the shareholder 
   threshold for registration under such Act, and for other purposes.

    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 ``Public Company Registration 
Threshold Act''.

SEC. 2. SHAREHOLDER THRESHOLD FOR REGISTRATION.

    The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is 
amended--
            (1) in section 12(g)--
                    (A) in paragraph (1)--
                            (i) by striking ``shall--'' and all that 
                        follows through ``register such security'' and 
                        inserting ``shall, not later than 120 days 
                        after the last day of its first fiscal year 
                        ended after the effective date of this 
                        subsection on which the issuer has total assets 
                        exceeding $10,000,000 (or such greater amount 
                        of assets as the Commission may establish by 
                        rule) and a class of equity security (other 
                        than an exempted security) held of record by 
                        2,000 or more persons (or such greater number 
                        of persons as the Commission may establish by 
                        rule), register such security''; and
                            (ii) by adding at the end the following: 
                        ``The dollar figure in this paragraph shall be 
                        indexed for inflation every 5 years by the 
                        Commission to reflect the change in the 
                        Consumer Price Index for All Urban Consumers 
                        published by the Bureau of Labor Statistics, 
                        rounded to the nearest $100,000.''; and
                    (B) in paragraph (4), by striking ``300 persons'' 
                and all that follows through ``1,200 persons persons'' 
                and inserting ``1,200 persons''; and
            (2) in section 15(d)(1), by striking ``300 persons'' and 
        all that follows through ``1,200 persons persons'' and 
        inserting ``1,200 persons''.
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