Title: Accelerating Access to Capital Act of 2017
Policy area: Finance and Financial Sector

Summary:
Accelerating Access to Capital Act of 2017
This bill directs the Securities and Exchange Commission (SEC) to revise Form S-3 so as to permit securities to be registered pursuant to General Instruction I.B.1. of the form if the registrant has at least one class of common equity securities listed and registered on a national securities exchange. The SEC must also revise General Instruction I.B.6. of Form S-3 to allow certain registrants to use that instruction to offer up to one-third of the aggregate market value of their common equity even if they are not registered on a national securities exchange.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4529 Introduced in House (IH)]

<DOC>






115th CONGRESS
  1st Session
                                H. R. 4529

To direct the Securities and Exchange Commission to revise Form S-3 so 
    as to add listing and registration of a class of common equity 
securities on a national securities exchange as an additional basis for 
satisfying the requirements of General Instruction I.B.1. of such form 
and to remove such listing and registration as a requirement of General 
                    Instruction I.B.6. of such form.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 1, 2017

 Mrs. Wagner introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To direct the Securities and Exchange Commission to revise Form S-3 so 
    as to add listing and registration of a class of common equity 
securities on a national securities exchange as an additional basis for 
satisfying the requirements of General Instruction I.B.1. of such form 
and to remove such listing and registration as a requirement of General 
                    Instruction I.B.6. of such form.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accelerating Access to Capital Act 
of 2017''.

SEC. 2. EXPANDED ELIGIBILITY FOR USE OF FORM S-3.

    Not later than 45 days after the date of the enactment of this Act, 
the Securities and Exchange Commission shall revise Form S-3--
            (1) so as to permit securities to be registered pursuant to 
        General Instruction I.B.1. of such form provided that either--
                    (A) the aggregate market value of the voting and 
                non-voting common equity held by non-affiliates of the 
                registrant is $75,000,000 or more; or
                    (B) the registrant has at least one class of common 
                equity securities listed and registered on a national 
                securities exchange; and
            (2) so as to remove the requirement of paragraph (c) from 
        General Instruction I.B.6. of such form.
                                 <all>