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H.R. 3301 · House bill · 119th Congress
This bill provides statutory authority for certain requirements related to registration statements submitted to the Securities and Exchange Commission (SEC).
First, the bill allows under statute an emerging growth company to submit profit and loss statements from the previous two years, rather than the previous three years as is required of other reporting companies. In addition, the bill allows under statute any issuer of securities to submit a draft registration statement to the SEC for confidential review prior to a public filing.
This Act may be cited as the “Encouraging Local Emerging Ventures and Economic Growth Act of 2025” or the “ELEVATE Act of 2025”.
Section 12(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(b)) is amended—
(1) in paragraph (1)(K), by striking “years,” and inserting “years (or, in the case of an emerging growth company, not more than the two preceding years),”; and
(2) by adding at the end the following: