,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #dafd  ,,in ,,the ,,house ,,of  
,,representatives  ,march #f1 #bjad ,mr4
 ,hurt 7for himself and ,ms4 ,sewell of 
,alabama7 introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
exempt smaller public companies from    
requirements relating to the use of     
,extensible ,business ,reporting        
,language for periodic reporting to the 
,securities and ,exchange ,commission1  
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,small ,company ,disclosure             
,simplification ,act4  #b4 ,exemption   
from ,,xbrl requirements for emerging   
growth companies and other smaller      
companies  7a7 ,exemption for emerging  
growth companies ,emerging growth       
companies are exempted from the         
requirements to use ,extensible         
,business ,reporting ,language 7,,xbrl7 
for financial statements and other      
periodic reporting required to be filed 

with the ,commission under the          
securities laws4 ,such companies may    
elect to use ,,xbrl for such reporting4 
7b7 ,exemption for other smaller        
companies ,issuers with total annual    
gross revenues of less than #bej1jjj1jjj
 are exempt from the requirements to use
 ,,xbrl for financial statements and    
other periodic reporting required to be 
filed with the ,commission under the    
securities laws4 ,such issuers may elect
 to use ,,xbrl for such reporting4 ,an  
exemption under this subsection shall   
continue in effect until the later of-- 
7#a7 the date that is five years after  
the date of enactment of this ,act2 or  
7#b7 a determination by the ,commission1
 by order after conducting the analysis 
required by section #c1 that the        
benefits of such requirements to such   
issuers outweigh the costs4  7c7        
,modifications to regulations ,not later
 than #fj days after the date of        
enactment of this ,act1 the ,commission 
shall revise its regulations under parts

 #bbi1 #bcj1 #bcb1 #bci1 #bdj1 and #bdi 
of title #ag1 ,code of ,federal         
,regulations1 to reflect the exemptions 
set forth in subsections 7a7 and 7b74   
#c4 ,analysis by the ,,sec ,the         
,commission shall conduct an analysis of
 the costs and benefits to issuers      
described in section #b7;b7 of the      
requirements to use ,,xbrl for financial
 statements and other periodic reporting
 required to be filed with the          
,commission under the securities laws4  
,such analysis shall include an         
assessment of--  7#a7 how such costs and
 benefits may differ from the costs and 
benefits identified by the ,commission  
in the order relating to interactive    
data to improve financial reporting     
7dated ,january #cj1 #bjji2 #gd ,fed4   
,reg4 #fggf7 because of the size of such
 issuers2  7#b7 the effects on          
efficiency1 competition1 capital        
formation1 and financing and on analyst 
coverage of such issuers 7including any 
such effects resulting from use of      

,,xbrl by investors72 and  7#c7 the     
costs to such issuers of--  7,a7        
submitting data to the ,commission in   
,,xbrl2  7,b7 posting data on the       
website of the issuer in ,,xbrl2  7,c7  
software necessary to prepare1 submit1  
or post data in ,,xbrl2 and  7,d7 any   
additional consulting services or filing
 agent services4  #d4 ,report to        
,congress ,not later than one year after
 the date of enactment of this ,act1 the
 ,commission shall provide the          
,committee on ,financial ,services of   
the ,house of ,representatives and the  
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate a report 
regarding--  7#a7 the progress in       
implementing ,,xbrl reporting within the
 ,commission2  7#b7 the use of ,,xbrl   
data by ,commission officials2  7#c7 the
 use of ,,xbrl data by investors2  7#d7 
the results of the analysis required by 
section #c2 and  7#e7 any additional    
information the ,commission considers   
relevant for increasing transparency1   

decreasing costs1 and increasing        
efficiency of regulatory filings with   
the ,commission4  #e4 ,definitions ,as  
used in this ,act1 the terms            
,commission1 emerging growth company1   
issuer1 and securities laws have the    
meanings given such terms in section #c 
of the ,securities ,exchange ,act of    
#aicd 7#ae ,u4,s4,c4 #gh;c74