,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #ehdd  ,,in ,,the ,,house ,,of  
,,representatives  ,february #aa1       
#bjbj,mr4 ,riggleman introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,securities    
,exchange ,act of #aicd to revise the   
shareholder threshold for registration  
under that ,act for issuers that receive
 support through certain ,federal       
universal service support mechanisms1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,access to ,capital ,creates ,economic  
,strength and ,supports ,rural ,america 
,act or the ,,access ,rural ,america    
,act4  #b4 ,shareholder threshold for   
registration of certain issuers ,section
 #ab7;g7 of the ,securities ,exchange   
,act of #aicd 7#ae ,u4,s4,c4 #ghl7g77 is
 amended-- 7#a7 in paragraph 7#a7-- 7,a7
 in subparagraph 7,a77ii71 by striking  
and at the end2  7,b7 in subparagraph   
7,b71 by adding and at the end2  7,c7 by

 inserting after subparagraph 7,b7 the  
following3  7,c7 in the case of an      
issuer that1 during its previous fiscal 
year1 received support1 directly or     
through an affiliate1 through any       
,federal universal service support      
mechanism established under section #bed
 of the ,communications ,act of #aicd   
7#dg ,u4,s4,c4 #bed7 and filed the      
report described in paragraph 7#g7 with 
respect to such fiscal year1 not later  
than #abj days after the last day of its
 first fiscal year ended after the date 
of enactment of this subparagraph1 on   
which the issuer has total assets       
exceeding #aj1jjj1jjj and a class of    
equity security 7other than an exempted 
security7 held of record by either-- 7i7
 #b1jjj persons1 or  7ii7 #a1bej persons
 who are not accredited investors1  2   
and  7,d7 in the flush text following   
subparagraph 7,c71 as added by          
subparagraph 7,c7 of this paragraph1 by 
adding at the end the following3 ,the   
dollar figures in subparagraph 7,c7     

shall be indexed for inflation every #e 
years by the ,commission to reflect the 
change in the ,consumer ,price ,index   
for ,all ,urban ,consumers published by 
the ,bureau of ,labor ,statistics1      
rounded to the nearest #ajj1jjj42 and   
7#b7 by adding at the end the following3
  7#g7 ,report by universal service     
support mechanism recipients  7,a7 ,in  
general ,the ,commission shall issue    
regulations to establish a financial    
summary form that may be filed by an    
issuer that-- 7i7 during its previous   
fiscal year1 received support1 directly 
or through an affiliate1 through any    
,federal universal service support      
mechanism established under section #bed
 of the ,communications ,act of #aicd   
7#dg ,u4,s4,c4 #bed72 and  7ii7 has a   
class of equity security held of record 
by #ejj or more persons who are not     
accredited investors1 but fewer than    
#a1bej persons who are not accredited   
investors4  7,b7 ,contents ,the form    
described in subparagraph 7,a7 shall    

include a summary of the consolidated   
balance sheet and the consolidated      
income statement of the issuer and such 
other information as the ,commission    
determines is necessary and appropriate 
in the public interest and for the      
protection of investors4  4