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H.R. 1343 (115th): Encouraging Employee Ownership Act of 2017

The text of the bill below is as of Mar 29, 2017 (Reported by House Committee).


IB

Union Calendar No. 42

115th CONGRESS

1st Session

H. R. 1343

[Report No. 115–71]

IN THE HOUSE OF REPRESENTATIVES

March 2, 2017

(for himself, Mr. Delaney, Mr. Stivers, Ms. Sinema, Mr. Higgins of New York, and Mr. MacArthur) introduced the following bill; which was referred to the Committee on Financial Services

March 29, 2017

Additional sponsors: Mr. Trott and Mr. Gottheimer

March 29, 2017

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed


A BILL

To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.


1.

Short title

This Act may be cited as the Encouraging Employee Ownership Act of 2017.

2.

Increased threshold for disclosures relating to compensatory benefit plans

Not later than 60 days after the date of the enactment of this Act, the Securities and Exchange Commission shall revise section 230.701(e) of title 17, Code of Federal Regulations, so as to increase from $5,000,000 to $10,000,000 the aggregate sales price or amount of securities sold during any consecutive 12-month period in excess of which the issuer is required under such section to deliver an additional disclosure to investors. The Commission shall index for inflation such aggregate sales price or amount every 5 years to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, rounding to the nearest $1,000,000.

March 29, 2017

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed