House Bill 5054
115th Congress(2017-2018)
Small Company Disclosure Simplification Act of 2018
Introduced
Introduced in House on Feb 15, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5054
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Small Company Disclosure Simplification Act of 2018
This bill exempts from requirements to use Extensible Business Reporting Language (XBRL) for Securities and Exchange Commission (SEC) filings: (1) emerging growth companies (in general, newly public companies with revenues below a specified threshold); and (2) on a temporary basis, certain other smaller companies.
The SEC must conduct an analysis of the costs and benefits of XBRL requirements with respect to such companies.
The SEC must report to Congress on the results of its analysis and other specified issues related to XBRL usage.
12/21/2018
Placed on the Union Calendar, Calendar No. 846.
12/21/2018
Reported by the Committee on Financial Services. H. Rept. 115-1094.
06/07/2018
Ordered to be Reported by the Yeas and Nays: 32 - 23.
06/07/2018
Committee Consideration and Mark-up Session Held.
02/15/2018
Referred to the House Committee on Financial Services.
02/15/2018
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:40:31 PM