/  H.R. 1675—Encouraging Employee Ownership Act of 2015

H.R. 1675 - Encouraging Employee Ownership Act of 2015

Bill Text

  • Rules Committee Print 114-43 PDF XML

    Showing the texts of H.R. 1675, H.R. 686, H.R. 1965, H.R. 2354, and H.R. 2356 as ordered reported by the Committee on Financial Services; with conforming changes.
            ::  Included in these conforming changes are a new short title and title designations. 

  • Text of H.R. 1675 PDF XML

    Encouraging Employee Ownership Act of 2015 (as reported)

  • Text of Committee Reports of Bills Contained in Rules Committee Print 114-43

            ::  H. Rept. 114-398—Report to accompany H.R. 1675  PDF
            ::  H. Rept. 114-400—Report to accompany H.R. 686  PDF
     
           ::  H. Rept. 114-399—Report to accompany H.R. 1965  PDF
     
           ::  H. Rept. 114-403—Report to accompany H.R. 2354  PDF
     
           ::  H. Rept. 114-401—Report to accompany H.R. 2356  PDF

Rule Information

COMMITTEE ACTION:
REPORTED BY RECORD VOTE of 9-4 on Tuesday, February 2, 2016 .

FLOOR ACTION ON H. RES. 595: 
Agreed to be record vote of 242-175, after agreeing to the previous question by record vote of 240-176, on Wednesday, February 3, 2016.

MANAGERS:Stivers/Polis

1. Structured rule for H.R. 1675.

2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

3. Waives all points of order against consideration of the bill.

4. Makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-43 and provides that it shall be considered as read.

5. Waives all points of order against that amendment in the nature of a substitute.

6. Makes in order only those further amendments printed in part A of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

7. Waives all points of order against the amendments printed in part A of the report.

8. Provides one motion to recommit with or without instructions.

9. Structured rule for H.R. 766.

10. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

11. Waives all points of order against consideration of the bill.

12. Makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-41 and provides that it shall be considered as read.

13. Waives all points of order against that amendment in the nature of a substitute.

14. Makes in order only those further amendments printed in part B of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

15. Waives all points of order against the amendments printed in part B of the report.

16. Provides one motion to recommit with or without instructions.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
7Version 1DeSaulnier (CA)DemocratLate Directs the SEC to study and report to Congress the prevalence of employee ownership plans within companies that include a flexible or social benefit component in their articles of incorporation, as allowed under relevant state laws.Made In Order
1Version 1Ellison (MN), Maloney, Carolyn (NY), Quigley (IL), Polis (CO)DemocratRepeals the Small Company Disclosure Act (H.R. 1965) in its entirety from the bill thus preserving the S.E.C. requirement that public companies report their information related to corporate financial performance as searchable data.Made In Order
2Version 1Ellison (MN), Polis (CO)DemocratNarrows the exemption to emerging growth companies and only for a period of three years. Nullifies that exemption if the Securities and Exchange Commission permits corporations to file their information using Inline XBRL formatting.Made In Order
5Version 1Huizenga (MI)RepublicanClarifies the disqualification from the exemption of any broker or associated person who is subject to suspension or revocation of registration, and the in-applicability of the exemption to any M&A transaction where one party or more is a shell company.Made In Order
3Version 1Issa (CA), Polis (CO)Bi-PartisanLeaves intact the exemption from XBRL reporting for Emerging Growth Companies (EGCs,) while decreasing the exemption for other small companies with total annual gross revenues of less than $250,000,000 from five years to two years and allowing the Securities and Exchange Commission to cancel the exemption within 180 days, instead of two years, if a cost-benefit analysis shows the benefits of XBRL reporting as outweighing the costs.Made In Order
4Version 1Issa (CA), Polis (CO)Bi-PartisanLimits all exemptions granted therein only to companies obligated to begin submitting financial disclosures to the Securities and Exchange Commission after the date of enactment.Made In Order
6Version 1Sherman (CA)DemocratLate Provides exclusions for when a mergers and acquisitions broker is not exempt from registration with the SEC. Made In Order