Section 1 Short title
This Act may be cited as the “The Business Startup Clarification Act of 2018”.
The Business Startup Clarification Act of 2018
A BILL
To remove the limitation on large accelerated filers qualifying as an emerging growth company, and for other purposes.
Sec. 2 Emerging growth company criteria
Securities Act of 1933— Section 2(a)(19)(D) of the Securities Act of 1933 (15 U.S.C. 77b(a)(19)(D)) is amended to read as follows:
“(D) the date on which the public float of such issuer surpasses an amount established by the Commission, but which amount may not be less than the value of public float required to qualify as a large accelerated filer under section 240.12b–2 of title 17, Code of Federal Regulations.”
Securities Exchange Act of 1934— Subparagraph (D) of the first paragraph (80) of section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) (relating to emerging growth companies) is amended to read as follows:
“(D) the date on which the public float of such issuer surpasses an amount established by the Commission, but which amount may not be less than the value of public float required to qualify as a large accelerated filer under section 240.12b–2 of title 17, Code of Federal Regulations.”