S.Amdt. 5931

SA 5931. Mr. SCOTT of South Carolina submitted an amendment intended to be proposed to amendment SA 5499 submitted by Mr. Reed (for himself and Mr. Inhofe) and intended to be proposed to the bill H.R. 7900, to authorize appropriations for fiscal year 2023 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. _____. HELPING STARTUPS CONTINUE TO GROW.

(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.