IIB 
118TH CONGRESS 
1ST SESSION H. R. 2608 
IN THE SENATE OF THE UNITED STATES 
JUNE 6, 2023 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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, 
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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— 
(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 
210.8-04 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- 
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05 or section 210.8-04 of title 17, Code of Fed-
eral Regulations, or any successor thereto) for 
any period prior to the earliest audited period 
of the emerging growth company presented 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 210.8-04 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 210.8-04 of title 17, Code of Fed-
eral Regulations, or any successor thereto) for any period 
prior to the earliest audited period of the emerging growth 
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company presented in connection with any application 
under subsection (b) of this section;’’. 
Passed the House of Representatives June 5, 2023. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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