Helping Startups Continue to Grow Act of 2022

Helping Startups Continue to Grow Act of 2022

This bill allows certain issuers of securities regulated as emerging growth companies to continue operating under such regulations, including those related to reduced disclosures and other exemptions, for an additional five years.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4992 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4992

 To amend the Securities Act of 1933 to extend the maximum period for 
 which a company can be an emerging growth company from 5 years to 10 
                                 years.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 28, 2022

Mr. Scott of South Carolina (for himself and Mr. Warner) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Securities Act of 1933 to extend the maximum period for 
 which a company can be an emerging growth company from 5 years to 10 
                                 years.

    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 ``Helping Startups Continue to Grow 
Act of 2022''.

SEC. 2. DEFINITION OF EMERGING GROWTH COMPANY.

    (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 
        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.
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