S.Amdt. 1910

SA 1910. Mrs. FEINSTEIN submitted an amendment intended to be
proposed to amendment SA 1833 proposed by Mr. Reid (for Mr. Reed (for
himself, Ms. Landrieu, Mr. Levin, Mr. Brown of Ohio, Mr. Merkley, Mr.
Akaka, Mr. Whitehouse, Mr. Franken, Mr. Harkin, Mr. Durbin, and Mrs.
Shaheen)) to the bill H.R. 3606, to increase American job creation and
economic growth by improving access to the public capital markets for
emerging growth companies; which was ordered to lie on the table; as
follows:

On page 10, line 1, strike ``$350,000,000'' and all that
follows through page 11, line 22 and insert the following:
``$200,000,000 during its most recently completed fiscal
year. An issuer that is an emerging growth company as of the
first day of that fiscal year and that has completed a sale
of common equity securities pursuant to an effective
registration statement under this title shall continue to be
deemed an emerging growth company until the earliest of--
``(A) the last day of the fiscal year of the issuer during
which it had total annual gross revenues of $200,000,000 or
more;
``(B) the last day of the fiscal year of the issuer in
which the fifth anniversary of the date of the first sale of
common equity securities of the issuer pursuant to an
effective registration statement under this title occurs;
``(C) the date on which such issuer is deemed to be a
`large accelerated filer', as defined in section 240.12b 2 of
title 17, Code of Federal Regulations (or any successor
thereto); or
``(D) the date on which the issuer has, during the previous
3-year period, issued in excess of an aggregate of
$1,000,000,000 of securities, other than common equity,
whether or not such securities were issued in transactions
registered under this title.''.
(b) Securities Exchange Act of 1934.--Section 3(a) of the
Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is
amended--
(1) by redesignating the second paragraph designated as
paragraph (77) (relating to asset-backed securities) as
paragraph (79); and
(2) by adding at the end the following:
``(80) The term `emerging growth company' means an issuer
that had total annual gross revenues of less than
$200,000,000 during its most recently completed fiscal year.
An issuer that is an emerging growth company as of the first
day of that fiscal year and that has completed a sale of
common equity securities pursuant to an effective
registration

[[Page S1854]]

statement under the Securities Act of 1933 shall continue to
be deemed an emerging growth company until the earliest of--
``(A) the last day of the fiscal year of the issuer during
which it had total annual gross revenues of $200,000,000 or
more;
______