,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aejb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #af1 #bjai,ms4    
,baldw9 7= h]self1 ,ms4 ,ern/1 ,mr4     
,cram]1 & ,ms4 ,s9ema7 introduc$ !      
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,a ,,bill  ,to am5d !  
,securities ,ex*ange ,act ( #aicd to    
revise ! %>ehold] ?re%old = regi/ration 
"u t ,act = issu]s t receive support    
?r\gh c]ta9 ,f$]al univ]sal s]vice      
support me*anisms1 & = o!r purposes4    
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,access to ,capital ,creates ,economic
 ,/r5g? & ,supports ,rural ,am]ica ,act 
or ! ,,access ,rural ,am]ica ,act4  #b4 
,%>ehold] ?re%old = regi/ration ( c]ta9 
issu]s ,section #ab7;g7 ( ! ,securities 
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghl7g77 is am5d$-- 7#a7 9 p>agraph     
7#a7-- 7,a7 9 subp>agraph 7,a77ii71 by  
/rik+ & at ! end2  7,b7 9 subp>agraph   
7,b71 by add+ & at ! end2  7,c7 by      
ins]t+ aft] subp>agraph 7,b7 ! foll[+3  

7,c7 9 ! case ( an issu] t1 dur+ its    
previ\s fiscal ye>1 receiv$ support1    
directly or ?r\gh an affiliate1 ?r\gh   
any ,f$]al univ]sal s]vice support      
me*anism e/abli%$ "u section #bed ( !   
,communications ,act ( #aicd 7#dg       
,u4,s4,c4 #bed7 & fil$ ! report describ$
 9 p>agraph 7#g7 ) respect to su* fiscal
 ye>1 n lat] ?an #abj days aft] ! la/   
day ( its fir/ fiscal ye> end$ aft] !   
date ( enactm5t ( ?is subp>agraph1 on   
:i* ! issu] has total assets exce$+     
#aj1jjj1jjj & a class ( equity security 
7o!r ?an an exempt$ security7 held (    
record by ei!r-- 7i7 #b1jjj p]sons1 or  
7ii7 #a1bej p]sons :o are n accr$it$    
inve/ors1  2 &  7,d7 9 ! flu% text      
foll[+ subp>agraph 7,c71 z add$ by      
subp>agraph 7,c7 ( ?is p>agraph1 by add+
 at ! end ! foll[+3 ,! doll> figures 9  
subp>agraph 7,c7 %all be index$ =       
inflation e #e ye>s by ! ,commission to 
reflect ! *ange 9 ! ,consum] ,price     
,index = ,all ,urban ,consum]s publi%$  
by ! ,bureau ( ,labor ,/ati/ics1 r\nd$  

to ! ne>e/ #ajj1jjj42 &  7#b7 by add+ at
 ! end ! foll[+3  7#g7 ,report by       
univ]sal s]vice support me*anism        
recipi5ts  7,a7 ,9 g5]al ,! ,commission 
%all issue regulations to e/abli% a     
f9ancial summ>y =m t may be fil$ by an  
issu] t-- 7i7 dur+ its previ\s fiscal   
ye>1 receiv$ support1 directly or ?r\gh 
an affiliate1 ?r\gh any ,f$]al univ]sal 
s]vice support me*anism e/abli%$ "u     
section #bed ( ! ,communications ,act ( 
#aicd 7#dg ,u4,s4,c4 #bed72 &  7ii7 has 
a class ( equity security held ( record 
by #ejj or m p]sons :o are n accr$it$   
inve/ors1 b few] ?an #a1bej p]sons :o   
are n accr$it$ inve/ors4  7,b7 ,cont5ts 
,! =m describ$ 9 subp>agraph 7,a7 %all  
include a summ>y ( ! consolidat$ balance
 %eet & ! consolidat$ income /atem5t ( !
 issu] & su* o!r in=mation z !          
,commission det]m9es is necess>y &      
appropriate 9 ! public int]e/ & = !     
protection ( inve/ors4  4