GROW Act of 2015

Get Regulation Out of the Way Act of 2015 or the GROW Act of 2015

This bill amends the Sarbanes-Oxley Act of 2002 to exempt from the auditor attestation of internal control assessments an issuer of securities whose total market capitalization is less than $2 billion.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3891 Introduced in House (IH)]

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114th CONGRESS
  1st Session
                                H. R. 3891

To amend the Sarbanes-Oxley Act of 2002 to exempt issuers with a total 
  market capitalization of less than $2,000,000,000 from the auditor 
       attestation requirement for internal control assessments.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 3, 2015

    Mr. Clawson of Florida introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Sarbanes-Oxley Act of 2002 to exempt issuers with a total 
  market capitalization of less than $2,000,000,000 from the auditor 
       attestation requirement for internal control assessments.

    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 ``Get Regulation Out of the Way Act of 
2015'' or the ``GROW Act of 2015''.

SEC. 2. ADDITIONAL EXEMPTION FROM AUDITOR ATTESTATION TO INTERNAL 
              CONTROL ASSESSMENTS.

    Section 404(c) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
7262(c)) is amended--
            (1) by striking the period at the end and inserting ``; 
        or'';
            (2) by striking ``prepared for an issuer'' and inserting 
        the following: ``prepared for--
            ``(1) an issuer''; and
            (3) by adding at the end the following:
            ``(2) an issuer that, as of the first day of the fiscal 
        year to which the assessment described in such subsection 
        relates, has a total market capitalization of less than 
        $2,000,000,000.''.
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