US Congress House Bill 1645 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 12-3-1)
Status: Introduced on March 21 2017 - 25% progression, died in chamber
Action: 2017-11-28 - Placed on the Union Calendar, Calendar No. 315.
Text: Latest bill text (Introduced) [PDF]

Fostering Innovation Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to establish a temporary exemption to the requirement that each registered public accounting firm that prepares or issues an audit report for an issuer of securities (other than an emerging growth company) shall attest to, and report on, the internal control assessment made by the management of the issuer. Specifically, this requirement shall not apply with respect to an audit report prepared for an issuer that: ceased to be an emerging growth company on the last day of its fiscal year following the fifth anniversary of its first sale of common equity securities, had average annual gross revenues of less than $50 million as of its most recently completed fiscal year, and is not a large accelerated filer. An issuer shall cease to be eligible for the exemption at the earliest of: (1) the last day of the fiscal year following the 10th anniversary of its first sale of common equity securities, (2) the last day of the fiscal year in which its average annual gross revenues exceed $50 million, or (3) when the issuer becomes a large accelerated filer.

Fostering Innovation Act of 2017

Sen. Kyrsten Sinema [I-AZ]	Rep. Trey Hollingsworth [R-IN]	Rep. Randy Hultgren [R-IL]	Rep. Josh Gottheimer [D-NJ]
Rep. Ann Wagner [R-MO]	Rep. Robert Pittenger [R-NC]	Rep. Blaine Luetkemeyer [R-MO]	Rep. John Delaney [D-MD]
Rep. Thomas Massie [R-KY]	Rep. Dennis Ross [R-FL]	Rep. Tom Emmer [R-MN]	Rep. French Hill [R-AR]
Rep. Thomas MacArthur [R-NJ]	Rep. Bill Foster [D-IL]	Rep. Steve Stivers [R-OH]	Rep. Luke Messer [R-IN]

Date	Chamber	Action
2017-11-28	House	Placed on the Union Calendar, Calendar No. 315.
2017-11-28	House	Reported by the Committee on Financial Services. H. Rept. 115-425.
2017-10-12	House	Ordered to be Reported by the Yeas and Nays: 48 - 12.
2017-10-12	House	Committee Consideration and Mark-up Session Held.
2017-10-11	House	Committee Consideration and Mark-up Session Held.
2017-03-21	House	Referred to the House Committee on Financial Services.
2017-03-21	House	Introduced in House

HB10 (Related) 2017-07-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
HB3978 (Related) 2018-02-15 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB2126 (Related) 2018-06-26 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
HB6147 (Related) 2018-09-07 - Message on Senate action sent to the House.
SB488 (Related) 2018-07-18 - Message on House action received in Senate and at desk: House amendments to Senate bill.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1645/all-info
Text	https://www.congress.gov/115/bills/hr1645/BILLS-115hr1645ih.pdf
Text	https://www.congress.gov/115/bills/hr1645/BILLS-115hr1645rh.pdf