Encouraging Employee Ownership Act of 2017

Bill: 115-hr-1343
Sponsor: full_name: Rep. Hultgren, Randy [R-IL-14]
Introduced: 2017-03-02
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Employee benefits and pensions

Financial services and investments

Securities

Securities and Exchange Commission (SEC)
Latest action: action_date: 2017-04-05
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-03-02
action_desc: Introduced in House
text: <p><b>Encouraging Employee Ownership Act</b> <strong>of 2017</strong></p> <p>This bill&nbsp;&nbsp;requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.</p>

action_date: 2017-03-29
action_desc: Reported to House without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p><b>Encouraging Employee Ownership Act</b> <strong>of 2017</strong></p> <p>(Sec. 2) This bill&nbsp;&nbsp;requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.</p>

action_date: 2017-04-04
action_desc: Passed House amended
text: <p><b>Encouraging Employee Ownership Act</b> <strong>of 2017</strong></p> <p>(Sec. 2) This bill&nbsp;&nbsp;requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 1343 IN THE HOUSE OF REPRESENTATIVES March 2, 2017 Mr. Hultgren (for himself, Mr. Delaney , Mr. Stivers , Ms. Sinema , Mr. Higgins of New York , and Mr. MacArthur ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.

1. Short title This Act may be cited as the Encouraging Employee Ownership Act of 2017 . 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.

tv_txt: IB Union Calendar No. 42 115th CONGRESS 1st Session H. R. 1343 [Report No. 115–71] IN THE HOUSE OF REPRESENTATIVES March 2, 2017 Mr. Hultgren (for himself, Mr. Delaney , Mr. Stivers , Ms. Sinema , Mr. Higgins of New York , and Mr. MacArthur ) introduced the following bill; which was referred to the Committee on Financial Services March 29, 2017 Additional sponsors: Mr. Trott and Mr. Gottheimer March 29, 2017 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.

1. Short title This Act may be cited as the Encouraging Employee Ownership Act of 2017 . 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 29, 2017 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: IB 115th CONGRESS 1st Session H. R. 1343 IN THE HOUSE OF REPRESENTATIVES AN ACT To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.

1. Short title This Act may be cited as the Encouraging Employee Ownership Act of 2017 . 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.

Passed the House of Representatives April 4, 2017. Karen L. Haas, Clerk.

tv_txt: IIB 115th CONGRESS 1st Session H. R. 1343 IN THE SENATE OF THE UNITED STATES April 5 (legislative day, April 4), 2017 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans.

1. Short title This Act may be cited as the Encouraging Employee Ownership Act of 2017 . 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.

Passed the House of Representatives April 4, 2017. Karen L. Haas, Clerk