,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #deb  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #ab1 #bjai,mr4
 ,tillis 7= himself1 ,mr4 ,pet]s1 ,mr4  
,p]due1 & ,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 !  
,s>banes-,oxley ,act ( #bjjb to provide 
a tempor>y exemption = l[-rev5ue issu]s 
f c]ta9 auditor atte/ation requirem5ts4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,fo/]+ ,innovation ,act ( #bjai4  #b4 
,tempor>y exemption = l[-rev5ue issuers 
,section #djd ( ! ,s>banes-,oxley ,act (
 #bjjb 7#ae ,u4,s4,c4 #gbfb7 is am5d$ by
 add+ at ! end ! foll[+3  7d7 ,tempor>y 
exemption = l[-,rev5ue issu]s  7#a7     
,def9itions ,9 ?is subsection-- 7,a7 !  
t]m av]age annual gross rev5ues means ! 
total gross rev5ues ( an issu] ov] its  
mo/ rec5tly complet$ #c fiscal ye>s     
divid$ by #c2  7,b7 ! t]m em]g+ gr[?    
company has ! mean+ giv5 ! t]m 9 section
 #c ( ! ,securities ,ex*ange ,act (     

#aicd 7#ae ,u4,s4,c4 #gh;c72 &  7,c7 !  
t]m l>ge accel]at$ fil] has ! mean+ giv5
 ! t]m 9 section #bdj4ab;b-#b ( title   
#ag1 ,code ( ,f$]al ,regulations 7or any
 successor regulation74  7#b7 ,l[-rev5ue
 exemption ,subsection 7b7 %all n apply 
) respect to an audit report prep>$ = an
 issu] t-- 7,a7 ceas$ to be an em]g+    
gr[? company on ! la/ day ( ! fiscal ye>
 ( ! issu] foll[+ ! #e-ye> p]iod beg9n+ 
on ! date ( ! fir/ sale ( common equity 
securities ( ! issu] pursuant to an     
effective regi/ration /atem5t "u !      
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;a et seq472  7,b7 _h av]age annual  
gross rev5ues ( less ?an #ej1jjj1jjj z (
 its mo/ rec5tly complet$ fiscal ye>2 & 
7,c7 is n a l>ge accel]at$ fil]4  7#c7  
,expiration ( tempor>y exemption ,an    
issu] ceases to be eligible = !         
exemption describ$ "u p>agraph 7#a7 on !
 e>li] (--  7,a7 ! la/ day ( ! fiscal   
ye> ( ! issu] foll[+ ! #aj-ye> p]iod    
beg9n+ on ! date ( ! fir/ sale ( common 
equity securities ( ! issu] pursuant to 

an effective regi/ration /atem5t "u !   
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;a et seq472  7,b7 ! la/ day ( !     
fiscal ye> ( ! issu] dur+ :i* ! av]age  
annual gross rev5ues ( ! issu] exce$    
#ej1jjj1jjj2 or  7,c7 ! date on :i* !   
issu] becomes a l>ge accel]at$ fil]4  4