[Congressional Record Volume 168, Number 157 (Wednesday, September 28, 2022)]
[Senate]
[Pages S5396-S5397]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5931. Mr. SCOTT of South Carolina submitted an amendment intended 
to be proposed to amendment SA 5499 submitted by Mr. Reed (for himself 
and Mr. Inhofe) and intended to be proposed to the bill H.R. 7900, to 
authorize appropriations for fiscal year 2023 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:
       At the appropriate place, insert the following:

     SEC. _____. HELPING STARTUPS CONTINUE TO GROW.

       (a) Definitions.--
       (1) Securities act of 1933.--Section 2(a)(19)(B) of the 
     Securities Act of 1933 (15 U.S.C. 77b(a)(19)(B)) is amended 
     by striking ``fifth'' and inserting ``tenth''.
       (2) Securities exchange act of 1934.--Section 3(a)(80)(B) 
     of the Securities Exchange Act of 1934 (15 U.S.C. 
     78c(a)(80)(B)) is amended by striking ``fifth'' and inserting 
     ``tenth''.
       (b) Rulemaking.--
       (1) In general.--Not later than 180 days after the date of 
     enactment of this Act, the Securities Exchange Commission 
     shall issue an interim final rule carrying out the amendment 
     made by subsection (a).
       (2) Definitions.--In amending the definition of emerging 
     growth company, as required under paragraph (1), the 
     Securities

[[Page S5397]]

     Exchange Commission shall not make or solicit feedback on 
     alterations to the definition of emerging growth company to 
     narrow the definition or increase their regulatory 
     obligations or restrictions of emerging growth companies.
                                 ______