[Report No. 119–133]
May 13, 2025
Mr. Steil (for himself and Mrs. Wagner) introduced the following bill; which was referred to the Committee on Financial Services
June 4, 2025
Additional sponsor: Mr. Liccardo
June 4, 2025
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
Strike out all after the enacting clause and insert the part printed in italic
For text of introduced bill, see copy of bill as introduced on May 13, 2025
To update the definition of an emerging growth company, and for other purposes.
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
.
Sec. 2. Emerging growth company criteria
(a) Securities Act of 1933
Section 2(a)(19) of the Securities Act of 1933 (15 U.S.C. 77b(a)(19)) is amended—
(1)
by striking $1,000,000,000
each place such term appears and inserting $3,000,000,000
;
(2)
in subparagraph (B)—
(A)
by striking fifth
and inserting 10-year
; and
(B)
by adding or
at the end;
(3)
in subparagraph (C), by striking ; or
and inserting a period; and
(4)
by striking subparagraph (D).
(b) Securities Exchange Act of 1934
Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended, in the first paragraph (80)—
(1)
by striking $1,000,000,000
each place such term appears and inserting $3,000,000,000
;
(2)
in subparagraph (B)—
(A)
by striking fifth
and inserting 10-year
; and
(B)
by adding or
at the end;
(3)
in subparagraph (C), by striking ; or
and inserting a period; and
(4)
by striking subparagraph (D).
(c) Technical correction
(1)
Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended by redesignating the second paragraph (80) as paragraph (81).
(2)
Section 4A(a)(1)(B) of the Securities Act of 1933 (77d–1(a)(1)(B)) is amended by striking section 3(a)(80)
and inserting section 3(a)
.