,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hihe  ,,in ,,the ,,house ,,of  
,,representatives  ,december #af1 #bjbj 
,mr4 ,hill of ,arkansas 7for himself and
 ,mr4 ,schweikert7 introduced the       
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to make an exception to 
the #ajj shareholder ,s corporation     
limitation in the case of shareholders  
whose shares were acquired through      
certain crowdfunding or small public    
offerings4  #a4 ,short title ,this ,act 
may be cited as the ,s ,corp ,access to 
,crowdfunding ,act4  #b4 ,exception to  
,s corporation shareholder limitation in
 case of crowdfunding and small public  
offerings  7a7 ,in general ,section     
#acfa7;c7 of the ,internal ,revenue     
,code of #aihf is amended by adding at  
the end the following new paragraph3    
7#g7 ,treatment of shares acquired      
through crowdfunding and small public   
offerings ,the number of shareholders of

 the corporation shall be determined    
under subsection 7b77#a77;,a7 without   
regard to any individual who has only   
acquired shares in the corporation      
through-- 7,a7 a public offering that   
meets the terms and conditions set forth
 in ,regulation ,a promulgated by the   
,securities and ,exchange ,commission   
7#ag ,c4,f4,r4 #bcj4bea et seq471 or    
7,b7 one or more transactions described 
in section #d7;a77#f7 of the ,securities
 ,act of #aicc 7#ae ,u4,s4,c4           
#gg;d7a77#f774  4  7b7 ,effective date  
,the amendment made by this section     
shall apply to taxable years beginning  
after the date of the enactment of this 
,act4