[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 488 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                 S. 488

 To increase the threshold for disclosures required by the Securities 
and Exchange Commission relating to compensatory benefit plans, and for 
                            other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                             March 1, 2017

Mr. Toomey (for himself and Mr. Warner) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

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                                 A BILL


 
 To increase the threshold for disclosures required by the Securities 
and Exchange Commission relating to compensatory benefit plans, 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 ``Encouraging Employee Ownership 
Act''.

SEC. 2. INCREASED THRESHOLD FOR DISCLOSURES RELATING TO COMPENSATORY 
              BENEFIT PLANS.

    Not later than 60 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise section 230.701(e) 
of title 17, Code of Federal Regulations, so as to increase from 
$5,000,000 to $10,000,000 the aggregate sales price or amount of 
securities sold during any consecutive 12-month period in excess of 
which the issuer is required under such section to deliver an 
additional disclosure to investors. The Commission shall index for 
inflation such aggregate sales price or amount every 5 years to reflect 
the change in the Consumer Price Index for All Urban Consumers 
published by the Bureau of Labor Statistics, rounding to the nearest 
$1,000,000.
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