US SB1962 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on December 7 2011 - 25% progression, died in committee
Action: 2011-12-07 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 7 2011 - 25% progression, died in committee
Action: 2011-12-07 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Startup Expansion and Investment Act - Amends the Sarbanes-Oxley Act of 2002 to revise an exception to rules prescribed by the Securities and Exchange Commission (SEC) that require the annual reports of certain publicly traded securities issuers to contain: (1) an assessment of the issuer's internal control structure and procedures for financial reporting, and (2) an attestation to such assessment by each registered public accounting firm that prepares or issues an audit report for the issuer. Permits an issuer to elect not to provide such an assessment and attestation if the issuer: (1) has a total market capitalization for the relevant reporting period of less than $1 billion, and (2) is not subject to the annual reporting requirement under the Securities Exchange Act of 1934. (Current law exempts issuers with an aggregate worldwide market value of the voting and non-voting common equity held by its non-affiliates of below $75 million, as of the last business day of the issuer's most recently completed second fiscal quarter.) Requires an issuer electing not to provide such assessment and attestation to disclose that decision in its next annual report.
Title
Startup Expansion and Investment Act
Sponsors
Sen. Jim DeMint [R-SC] | Sen. John Barrasso [R-WY] |
History
Date | Chamber | Action |
---|---|---|
2011-12-07 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB2941 (Related) 2011-10-04 - Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Subjects
Accounting and auditing
Administrative law and regulatory procedures
Corporate finance and management
Finance and financial sector
Securities and Exchange Commission (SEC)
Small business
Administrative law and regulatory procedures
Corporate finance and management
Finance and financial sector
Securities and Exchange Commission (SEC)
Small business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/senate-bill/1962/all-info |
Text | https://www.congress.gov/112/bills/s1962/BILLS-112s1962is.pdf |