#aaeth ,,congress  #ast ,session  ,h4   
,r4 #bhfd  ,,an ,,act  ,to direct the   
,securities and ,exchange ,commission to
 allow certain issuers to be exempt from
 registration requirements1 and for     
other purposes4  #a4 ,application of    
exemption ,the ,securities and ,exchange
 ,commission shall amend-- 7#a7 section 
#bcj4bea of title #ag1 ,code of ,federal
 ,regulations1 to remove the requirement
 that the issuer not be subject to      
section #ac or #ae7;d7 of the           
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;a et seq47 immediately   
before the offering2 and  7#b7 section  
#bcj4beg of title #ag1 ,code of ,federal
 ,regulations1 with respect to an       
offering described in section           
#bcj4bea7;a77#b7 of title #ag1 ,code of 
,federal ,regulations1 to deem any      
issuer that is subject to section #ac or
 #ae7;d7 of the ,securities ,exchange   
,act of #aicd as having met the periodic
 and current reporting requirements of  
section #bcj4beg of title #ag1 ,code of 

,federal ,regulations1 if such issuer   
meets the reporting requirements of     
section #ac of the ,securities ,exchange
 ,act of #aicd4  ,passed the ,house of  
,representatives ,september #e1         
#bjag4;,clerk4