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S. 488 (115th): JOBS and Investor Confidence Act of 2018

The text of the bill below is as of Mar 13, 2017 (Reported by Senate Committee).


II

Calendar No. 15

115th CONGRESS

1st Session

S. 488

IN THE SENATE OF THE UNITED STATES

March 1, 2017

(for himself, Mr. Warner, and Mr. Sasse) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

March 13, 2017

Reported by , without amendment

A BILL

To increase the threshold for disclosures required by the Securities and Exchange Commission relating to compensatory benefit plans, and for other purposes.

1.

Short title

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

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 13, 2017

Reported without amendment