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119-hr-3323119th CongressWALLET

Helping Startups Continue To Grow Act

Sponsored By: Representative Steil, Bryan [R-WI-1]

In Committee

Summary

Raises the revenue threshold for Emerging Growth Company status from $1 billion to $3 billion. It would also change the time-based test from a 'fifth' year trigger to a 10-year measure and remove a listed criterion, altering how long firms can claim EGC regulatory relief.

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  • Startups and public companies: Would let firms with up to $3 billion in annual revenue qualify for Emerging Growth Company benefits, extending scaled disclosure and compliance relief to larger, later-stage companies.
  • Investors and market participants: Would increase the number of issuers eligible for lighter reporting rules, changing what disclosure and audit information is available in some securities filings.
  • Securities regulators and statutes: Would make technical corrections to cross-references and redesignate a paragraph in the Securities Exchange Act, and would delete one subparagraph from the EGC definition to simplify the statutory test.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More leeway for startups going public

This bill would widen who can use the SEC’s Emerging Growth Company status. Companies with up to $3 billion in yearly revenue could qualify, up from $1 billion. It would also allow companies to keep that status for up to 10 years. One older rule that ended EGC status would be removed. If passed, this could ease compliance for some issuers and their investors.

Sponsors & CoSponsors

Sponsor

Steil, Bryan [R-WI-1]

WI • R

Cosponsors

  • Rep. Wagner, Ann [R-MO-2]

    MO • R

    Sponsored 5/13/2025

  • Rep. Liccardo, Sam T. [D-CA-16]

    CA • D

    Sponsored 5/19/2025

Roll Call Votes

No roll call votes available for this bill.

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