,,ib  ,union ,calendar ,no4 #chf  #aaeth
 ,,congress  #b;d ,session  ,h4 ,r4     
#dbgi  ,report ,no4 #aae-eag  ,,in ,,the
 ,,house ,,of ,,representatives         
,november #g1 #bjag ,mr4 ,hollingsworth 
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,january #af1     
#bjah;,additional sponsors3 ,mr4        
,hultgren1 ,mr4 ,foster1 and ,mr4       
,gottheimer  ,january #af1 #bjah        
,reported with an amendment1 committed  
to the ,committee of the ,whole ,house  
on the ,state of the ,union1 and ordered
 to be printed ,strike out all after the
 enacting clause and insert the part    
printed in italic ,for text of          
introduced bill1 see copy of bill as    
introduced on ,november #g1 #bjag  ,a   
,,bill  ,to direct the ,securities and  
,exchange ,commission to revise any     
rules necessary to enable closed-end    
companies to use the securities offering
 and proxy rules that are available to  
other issuers of securities4  #a4 ,short

 title ,this ,act may be cited as the   
,expanding ,investment ,opportunities   
,act4  #b4 ,parity for closed-end       
companies regarding offering and proxy  
rules  7a7 ,revision to rules ,not later
 than the end of the #ahj period        
beginning on the date of enactment of   
this ,act1 the ,securities and ,exchange
 ,commission shall propose and1 not     
later than #a year after the date of    
enactment of this ,act1 the ,securities 
and ,exchange ,commission shall finalize
 any rules1 as appropriate1 to allow any
 closed-end company1 as defined in      
section #e7;a77#b7 of the ,investment   
,company ,act of #aidj 7#ae ,u4,s4,c4   
#hj;a-#e71 that is registered as an     
investment company under such ,act1 and 
is listed on a national securities      
exchange or that makes periodic         
repurchase offers pursuant to section   
#bgj4bc;c-#c of title #ag1 ,code of     
,federal ,regulations1 to use the       
securities offering and proxy rules1    
subject to conditions the ,commission   

determines appropriate1 that are        
available to other issuers that are     
required to file reports under section  
#ac or section #ae7;d7 of the           
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghm2 #gho7d774 ,any action  
that the ,commission takes pursuant to  
this subsection shall consider the      
availability of information to          
investors1 including what disclosures   
constitute adequate information to be   
designated as a well-known seasoned     
issuer4  7b7 ,treatment if revisions not
 completed in a timely manner ,if the   
,commission fails to complete the       
revisions required by subsection 7a7 by 
the time required by such subsection1   
any registered closed-end company that  
is listed on a national securities      
exchange or that makes periodic         
repurchase offers pursuant to section   
#bgj4bc;c-#c of title #ag1 ,code of     
,federal ,regulations1 shall be deemed  
not to be an ineligible issuer under the
 final rule of the ,commission titled   

,securities ,offering ,reform 7#gj ,fed4
 ,reg4 #ddgbb2 published ,august #c1    
#bjje74  7c7 ,rules of construction     
7#a7 ,no effect on ,rule #dhb ,nothing  
in this section or the amendments made  
by this section shall be construed to   
impair or limit in any way a registered 
closed-end company from using section   
#bcj4dhb of title #ag1 ,code of ,federal
 ,regulations1 to distribute sales      
material4  7#b7 ,references ,any        
reference in this section to a section  
of title #ag1 ,code of ,federal         
,regulations1 or to any form or schedule
 means such rule1 section1 form1 or     
schedule1 or any successor to any such  
rule1 section1 form1 or schedule4       
,january #af1 #bjah ,reported with an   
amendment1 committed to the ,committee  
of the ,whole ,house on the ,state of   
the ,union1 and ordered to be printed