,,ib  ,union ,cal5d> ,no4 #chf  #aae?   
,,congress  #b;d ,session  ,h4 ,r4 #dbgi
  ,report ,no4 #aae-eag  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,novemb] #g1 #bjag
 ,mr4 ,holl+swor? introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,janu>y #af1        
#bjah;,additional sponsors3 ,mr4        
,hultgr51 ,mr4 ,fo/]1 & ,mr4 ,got!im]   
,janu>y #af1 #bjah ,report$ ) an        
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$ ,/rike out all aft] ! 
enact+ clause & ins]t ! "p pr9t$ 9      
italic ,= text ( introduc$ bill1 see    
copy ( bill z introduc$ on ,novemb] #g1 
#bjag  ,a ,,bill  ,to direct !          
,securities & ,ex*ange ,commission to   
revise any rules necess>y to enable     
clos$-end companies to use ! securities 
(f]+ & proxy rules t are available to   
o!r issu]s ( securities4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,exp&+  
,inve/m5t ,opportunities ,act4  #b4     
,p>ity = clos$-end companies reg>d+ (f]+

 & proxy rules  7a7 ,revision to rules  
,n lat] ?an ! end ( ! #ahj p]iod beg9n+ 
on ! date ( enactm5t ( ?is ,act1 !      
,securities & ,ex*ange ,commission %all 
propose &1 n lat] ?an #a ye> aft] ! date
 ( enactm5t ( ?is ,act1 ! ,securities & 
,ex*ange ,commission %all f9alize any   
rules1 z appropriate1 to all[ any       
clos$-end company1 z def9$ 9 section    
#e7;a77#b7 ( ! ,inve/m5t ,company ,act (
 #aidj 7#ae ,u4,s4,c4 #hj;a-#e71 t is   
regi/]$ z an inve/m5t company "u su*    
,act1 & is li/$ on a national securities
 ex*ange or t makes p]iodic repur*ase   
(f]s pursuant to section #bgj4bc;c-#c ( 
title #ag1 ,code ( ,f$]al ,regulations1 
to use ! securities (f]+ & proxy rules1 
subject to conditions ! ,commission     
det]m9es appropriate1 t are available to
 o!r issu]s t are requir$ to file       
reports "u section #ac or section       
#ae7;d7 ( ! ,securities ,ex*ange ,act ( 
#aicd 7#ae ,u4,s4,c4 #ghm2 #gho7d774    
,any action t ! ,commission takes       
pursuant to ?is subsection %all consid] 

! availability ( in=mation to inve/ors1 
includ+ :at disclosures con/itute       
adequate in=mation to be designat$ z a  
well-kn[n season$ issu]4  7b7 ,treatm5t 
if revisions n complet$ 9 a timely mann]
 ,if ! ,commission fails to complete !  
revisions requir$ by subsection 7a7 by !
 "t requir$ by su* subsection1 any      
regi/]$ clos$-end company t is li/$ on a
 national securities ex*ange or t makes 
p]iodic repur*ase (f]s pursuant to      
section #bgj4bc;c-#c ( title #ag1 ,code 
( ,f$]al ,regulations1 %all be deem$ n  
to be an ineligible issu] "u ! f9al rule
 ( ! ,commission titl$ ,securities ,(f]+
 ,re=m 7#gj ,f$4 ,reg4 #ddgbb2 publi%$  
,augu/ #c1 #bjje74  7c7 ,rules (        
con/ruction  7#a7 ,no effect on ,rule   
#dhb ,no?+ 9 ?is section or ! am5dm5ts  
made by ?is section %all be con/ru$ to  
impair or limit 9 any way a regi/]$     
clos$-end company f us+ section #bcj4dhb
 ( title #ag1 ,code ( ,f$]al            
,regulations1 to di/ribute sales        
mat]ial4  7#b7 ,ref]5ces ,any ref]5ce 9 

?is section to a section ( title #ag1   
,code ( ,f$]al ,regulations1 or to any  
=m or s*$ule means su* rule1 section1   
=m1 or s*$ule1 or any successor to any  
su* rule1 section1 =m1 or s*$ule4       
,janu>y #af1 #bjah ,report$ ) an        
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$