,,ib ,union ,calendar ,no4 #if #aaith   
,,congress  #ast ,session  ,h4 ,r4 #bbbe
 ,report ,no4 #aai-abf ,,in ,,the       
,,house ,,of ,,representatives  ,march  
#ah1 #bjbe,mr4 ,sherman 7for himself1   
,mr4 ,huizenga1 ,mr4 ,garbarino1 and    
,ms4 ,bynum7 introduced the following   
bill2 which was referred to the         
,committee on ,financial ,services      
,june #c1 #bjbe;,additional sponsors3   
,mr4 ,david ,scott of ,georgia1 ,mr4    
,meuser1 ,mr4 ,fields1 ,mr4             
,fitzpatrick1 ,ms4 ,strickland1 ,mr4    
,steil1 ,mr4 ,boyle of ,pennsylvania1   
,mr4 ,barr1 ,mrs4 ,wagner1 ,ms4         
,pettersen1 ,mr4 ,foster1 ,mr4 ,nunn of 
,iowa1 ,ms4 ,velzquez1 ,mr4 ,casten1    
,mr4 ,himes1 ,mr4 ,cleaver1 ,mr4 ,meeks1
 ,mr4 ,gottheimer1 ,mr4 ,torres of ,new 
,york1 ,mr4 ,vicente ,gonzalez of       
,texas1 ,mrs4 ,kim1 and ,ms4 ,meng      
,june #c1 #bjbe,reported with an        
amendment1 committed to the ,committee  
of the ,whole ,house on the ,state of   
the ,union1 and ordered to be           

printed,strike out all after the        
enacting clause and insert the part     
printed in italic,for text of introduced
 bill1 see copy of bill as introduced on
 ,march #ah1 #bjbe  ,a ,,bill  ,to      
permit a registered investment company  
to omit certain fees from the           
calculation of ,acquired ,fund ,fees and
 ,expenses1 and for other purposes4  #a4
 ,short title ,this ,act may be cited as
 the ,access to ,small ,business        
,investor ,capital ,act4  #b4           
,amendments to acquired fund fees and   
expenses reporting on investment company
 registration statements  7a7           
,definitions ,for purposes of this      
section3 7#a7 ,acquired ,fund ,the term 
,acquired ,fund has the meaning given   
the term in ,forms ,n-#a;,a1 ,n-#b1 and 
,n-#c4  7#b7 ,acquired ,fund ,fees and  
,expenses ,the term ,acquired ,fund     
,fees and ,expenses means the ,acquired 
,fund ,fees and ,expenses sub-caption in
 the ,fee ,table ,disclosure4  7#c7     
,business development company ,the term 

business development company has the    
meaning given the term in section #b7;a7
 of the ,investment ,company ,act of    
#aidj 7#ae ,u4,s4,c4 #hj;a-#b7;a774     
7#d7 ,fee table disclosure ,the term    
,fee ,table ,disclosure means the fee   
table described in ,item #c of ,form    
,n-#a;,a1 ,item #c of ,form ,n-#b1 or   
,item #d of ,form ,n-#c 7as applicable1 
and with respect to each1 in any        
successor fee table disclosure that the 
,securities and ,exchange ,commission   
adopts74  7#e7 ,form ,n-#a;a ,the term  
,form ,n-#a;,a means the form described 
in section #bgd4aa;,a of title #ag1     
,code of ,federal ,regulations1 or any  
successor regulation4  7#f7 ,form ,n-#b 
,the term ,form ,n-#b means the form    
described in section #bgd4aa;a-#a of    
title #ag1 ,code of ,federal            
,regulations1 or any successor          
regulation4  7#g7 ,form ,n-#c ,the term 
,form ,n-#c means the form described in 
section #bgd4aa;b of title #ag1 ,code of
 ,federal ,regulations1 or any successor

 regulation4  7#h7 ,registered          
investment company ,the term registered 
investment company means an investment  
company1 as defined under section #c7;a7
 of the ,investment ,company ,act of    
#aidj1 registered with the ,securities  
and ,exchange ,commission under such    
,act4  7b7 ,excluding business          
development companies from acquired fund
 fees and expenses ,a registered        
investment company may1 on any          
investment company registration         
statement filed pursuant to section     
#h7;b7 of the ,investment ,company ,act 
of #aidj 7#ae ,u4,s4,c4 #hj;a-#h7;b771  
omit from the calculation of ,acquired  
,fund ,fees and ,expenses those fees and
 expenses that the investment company   
incurred indirectly as a result of      
investment in shares of one or more     
,acquired ,funds that is a business     
development company4  ,june #c1         
#bjbe,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      

,union1 and ordered to be printed