I 
118TH CONGRESS 
1ST SESSION H. R. 2608 
To amend the Federal securities laws to specify the periods for which financial 
statements are required to be provided by an emerging growth company, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 13, 2023 
Mr. MCHENRY introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend the Federal securities laws to specify the periods 
for which financial statements are required to be pro-
vided by an emerging growth company, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. FINANCIAL STATEMENT REPORTING REQUIRE-
MENTS FOR EMERGING GROWTH COMPA-
NIES. 
(a) SECURITIES ACT OF 1933.—Section 7(a)(2) of 
the Securities Act of 1933 (15 U.S.C. 77g(a)(2)) is 
amended— 
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(1) in subparagraph (A), by striking ‘‘and’’ at 
the end; 
(2) by redesignating subparagraph (B) as sub-
paragraph (C); and 
(3) by inserting after subparagraph (A) the fol-
lowing: 
‘‘(B) need not present acquired company 
financial statements or information otherwise 
required under section 210.3 05 or section 
210.11 01 of title 17, Code of Federal Regula-
tions, or any successor thereto, for any period 
prior to the earliest audited period of the 
emerging growth company presented in connec-
tion with its initial public offering and, there-
after, in no event shall an issuer that was an 
emerging growth company but is no longer an 
emerging growth company be required to 
present financial statements of the issuer (or 
acquired company financial statements or infor-
mation otherwise required under section 210.3 
05 or section 210.11 01 of title 17, Code of 
Federal Regulations, or any successor thereto) 
for any period prior to the earliest audited pe-
riod of the emerging growth company presented 
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in connection with its initial public offering; 
and’’. 
(b) SECURITIES EXCHANGE ACT OF 1934.—Section 
12(b)(1)(K) of the Securities Exchange Act of 1934 (15 
U.S.C. 78l(b)(1)(K)) is amended by striking ‘‘firm;’’ and 
inserting ‘‘firm, provided that the application of an emerg-
ing growth company need not present acquired company 
financial statements or information otherwise required 
under section 210.3 05 or section 210.11 01 of title 17, 
Code of Federal Regulations, or any successor thereto, for 
any period prior to the earliest audited period of the 
emerging growth company presented in connection with its 
application and, thereafter, in no event shall an issuer that 
was an emerging growth company but is no longer an 
emerging growth company be required to present financial 
statements of the issuer (or acquired company financial 
statements or information otherwise required under sec-
tion 210.3 05 or section 210.11 01 of title 17, Code of 
Federal Regulations, or any successor thereto) for any pe-
riod prior to the earliest audited period of the emerging 
growth company presented in connection with any applica-
tion under subsection (b) of this section;’’. 
Æ 
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