US Congress House Bill 4164 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on October 23 2013 - 25% progression, died in chamber
Action: 2014-03-14 - Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5.
Text: Latest bill text (Introduced) [PDF]

Small Company Disclosure Simplification Act - Exempts emerging growth companies and issuers with total annual gross revenues of less than $250 million from the requirements to use Extensible Business Reporting Language (XBRL) for financial statements and other mandatory periodic reporting filed with the Securities and Exchange Commission (SEC). Allows such companies, however, to elect to use XBRL for such reporting. Directs the SEC to: (1) analyze the costs and benefits to such issuers of the requirements to use XBRL for financial statements and other mandatory periodic reporting; and (2) report to certain congressional committees on the results of such analysis as well as on progress in implementing XBRL reporting within the SEC, and use of XBRL data by the SEC and by investors.

Small Company Disclosure Simplification Act

Rep. Robert Hurt [R-VA]

Rep. Steve Chabot [R-OH]

Rep. Bob Goodlatte [R-VA]

Rep. Terri Sewell [D-AL]

Date	Chamber	Action
2014-03-14	House	Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5.
2014-03-14	House	Committee Consideration and Mark-up Session Held.
2014-03-06	House	Referred to the House Committee on Financial Services.
2013-10-23	House	Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.

HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4164/all-info
Text	https://www.congress.gov/113/bills/hr4164/BILLS-113hr4164ih.pdf