Small Company Disclosure Simplification Act
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in house (Mar 6, 2014)
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.
What just happenedMar 14, 2014
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5.
Who’s behind it
- Introduced in HouseMar 6, 2014
- Mar 14, 2014Committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 5.
- Mar 14, 2014Committee
Committee Consideration and Mark-up Session Held.
- Mar 6, 2014IntroReferralH11100
Referred to the House Committee on Financial Services.
- Mar 6, 2014IntroReferralIntro-H
Introduced in House
- Mar 6, 2014IntroReferral1000
Introduced in House
- Oct 23, 2013Committee
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.