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H.R.4164: Small Company Disclosure Simplification Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Robert Hurt, R-Va.
Total Cosponsors 3 (1 Democrat, 2 Republicans)
Introduced March 6, 2014
Latest Major Action March 14, 2014
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See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Small Company Disclosure Simplification Act - Exempts emerging growth companies and issuers with total annual gross revenues of less than $250 million from the requirements to use Extensible Business Reporting Language (XBRL) for financial statements and other mandatory periodic reporting filed with the Securities and Exchange Commission (SEC). Allows such companies, however, to elect to use XBRL for such reporting.

Directs the SEC to: (1) analyze the costs and benefits to such issuers of the requirements to use XBRL for financial statements and other mandatory periodic reporting; and (2) report to certain congressional committees on the results of such analysis as well as on progress in implementing XBRL reporting within the SEC, and use of XBRL data by the SEC and by investors.

(Source: Congressional Research Service)

Bill Actions

Date Description
March 14, 2014 Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5.
March 14, 2014 Committee Consideration and Mark-up Session Held.
March 6, 2014 Referred to the House Committee on Financial Services.
Oct. 23, 2013 Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.