HR 3323
Helping Startups Continue To Grow Act
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Bill overview
This bill amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to increase the financial thresholds for companies to be classified as ‘emerging growth companies’ (EGCs). Specifically, it raises the asset test and public offering test from $1 billion to $3 billion. These changes are intended to provide more startups with continued access to certain regulatory benefits and exemptions.
Key provisions
- Increases the asset test for emerging growth companies from $1 billion to $3 billion.
- Raises the public offering test for emerging growth companies from $1 billion to $3 billion.
- Modifies the 10-year revenue test for emerging growth companies.
- Updates the definition of an emerging growth company within the Securities Exchange Act of 1934.
Who is affected
- Startups
- Small businesses
- Public companies
Notable changes
- Raises financial thresholds for EGC classification.
- Changes the revenue test for EGC status.
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Primary sponsor
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119th CONGRESS — 1st Session
H. R. 3323
IN THE HOUSE OF REPRESENTATIVES
A BILL
To update the definition of an emerging growth company, and for other purposes.
This Act may be cited as the Helping Startups Continue To Grow Act
.
by striking $1,000,000,000
each place such term appears and inserting $3,000,000,000
;
in subparagraph (B)—
by striking fifth
and inserting 10-year
; and
by adding or
at the end;
; orand inserting a period; and
by striking subparagraph (D).
by striking $1,000,000,000
each place such term appears and inserting $3,000,000,000
;
in subparagraph (B)—
by striking fifth
and inserting 10-year
; and
by adding or
at the end;
; orand inserting a period; and
by striking subparagraph (D).