,,ii  #aag? ,,congress  #b;d ,session   
,s4 #ciaf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #bd1 #bjbb,mr4    
,r\nds introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to p]mit ! ,securities &       
,ex*ange ,commission to increase        
regulatory exemption ?re%olds1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,increas+ ,opportunities = 
,retail ,inve/ors ,act4  #b4 ,regulatory
 doll> ?re%olds & limitations ,not)/&+  
any o!r provision ( law or regulation1 !
 ,securities & ,ex*ange ,commission1 9  
ord] to r$uce any regulatory obligation 
7or any re/riction7 on any entity1 may1 
z ! ,commission det]m9es appropriate1   
increase any doll> ?re%old or limitation
 by rule ( ! ,commission1 includ+ any   
doll> ?re%old or limitation "u-- 7#a7   
section #bcj4bea7;a77#a7 ( title #ag1   
,code ( ,f$]al ,regulations1 or any     
successor regulation2  7#b7 section     
#bcj4bea7;a77#b7 ( title #ag1 ,code (   

,f$]al ,regulations1 or any successor   
regulation2  7#c7 section #bcj4ejd (    
title #ag1 ,code ( ,f$]al ,regulations1 
or any successor regulation2  7#d7      
section #bbg4ajj7;a77#a7 ( title #ag1   
,code ( ,f$]al ,regulations1 or any     
successor regulation2  7#e7 section     
#bbi4aj7;f7 ( title #ag1 ,code ( ,f$]al 
,regulations1 or any successor          
regulation2  7#f7 section #bcj4dje (    
title #ag1 ,code ( ,f$]al ,regulations1 
or any successor regulation2 or  7#g7   
section #bdj4ab;b-#b ( title #ag1 ,code 
( ,f$]al ,regulations1 or any successor 
regulation4  #c4 ,jobs act-relat$       
exemption ,section #c7;b7 ( !           
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;c7b77 is am5d$-- 7#a7 9 p>agraph    
7#b77;,a71 by /rik+ #ej1jjj1jjj & ins]t+
 #ge1jjj1jjj1 adju/$ = inflation by !   
,commission e #b ye>s to ! ne>e/ #aj1jjj
 to reflect ! *ange 9 ! ,consum] ,price 
,index = ,all ,urban ,consum]s publi%$  
by ! ,bureau ( ,labor ,/ati/ics2 &  7#b7
 9 p>agraph 7#e7-- 7,a7 9 ! fir/ s5t5ce1

 by /rik+ su* am\nt z & ins]t+ ! foll[+3
 su* am\nt1 z adju/$ = inflation "u     
p>agraph 7#b77;,a71 z2 &  7,b7 9 !      
second s5t5ce1 by /rik+ su* am\nt &     
ins]t+ ! foll[+3 su* am\nt1 z adju/$ =  
inflation "u p>agraph 7#b77;,a74  #d4   
,cr[dfund+ exemption  7#a7 ,increase 9  
limit ( am\nt sold 9 reliance on !      
cr[dfund+ exemption ,section            
#d7;a77#f77;,a7 ( ! ,securities ,act (  
#aicc 7#ae ,u4,s4,c4 #gg;d7a77#f77;,a77 
is am5d$ by /rik+ #a1jjj1jjj & ins]t+   
#e1jjj1jjj4  7#b7 ,cl>ification (       
transaction caps ,section               
#d7;a77#f77;,b7 ( ! ,securities ,act (  
#aicc 7#ae ,u4,s4,c4 #gg;d7a77#f77;,b77 
is am5d$-- 7,a7 9 clause 7i71 by ins]t+ 
! great] ( aft] #e p]c5t (2 &  7,b7 9   
clause 7ii71 by ins]t+ ! great] ( aft]  
#aj p]c5t (4