,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #cace  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #a1 #bjbe,mr4    
,b>r introduc$ ! foll[+ bill2 :i* 0     
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
,securities ,act ( #aicc to             
automatically qualify (f]+ /atem5ts fil$
 ) ! ,securities & ,ex*ange ,commission 
9 connection ) c]ta9 securities issu$ "u
 ,regulation ,a ti] #b1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,regulation ,advancem5t =  
,capital ,enhancem5t ,act ( #bjbe or !  
,,race ,act ( #bjbe4  #b4 ,(f]+ (       
sub/antially simil> securities ,section 
#c7;b7 ( ! ,securities ,act ( #aicc 7#ae
 ,u4,s4,c4 #gg;c7b77 is am5d$ by add+ at
 ! end ! foll[+3  7#f7 ,(f]+ (          
sub/antially simil> securities  7,a7 ,9 
g5]al ,) respect to a p]son :o has issu$
 a class ( securities 7:e!r pref]r$1    
common1 or conv]tible securities7       
exempt$ "u p>agraph 7#b7 & has fil$ an  
(f]+ /atem5t ) ! ,commission ) respect  

to su* class t 0 qualifi$ by !          
,commission1 an (f]+ /atem5t fil$ ) !   
,commission 9 connection ) an additional
 class ( securities issu$ by ! p]son &  
exempt$ "u p>agraph 7#b7 %all be deem$  
qualifi$ by ! ,commission ^u fil+1 if-- 
7i7 ! securities 9 ! additional class   
are sub/antially simil> to1 & h pr$ef9$ 
*>act]i/ics 9 common )1 ! securities 9 !
 orig9al class2  7ii7 ! (f]+ am\nt ( ea*
 su* class is less ?an #e1jjj1jjj2 &    
7iii7 ! aggregate (f]+ am\nt ( !        
securities 9 all su* additional classes 
t are (f]$ & sold )9 ! prior #ab-mon?   
p]iod 9 reliance on ! exemption provid$ 
"u ?is p>agraph does n exce$ ! doll>    
limit provid$ = ! aggregate (f]+ am\nt =
 securities t are (f]$ & sold )9 ! prior
 #ab-mon? p]iod 9 reliance on !         
exemption provid$ "u p>agraph 7#b74     
7,b7 ,no requirem5t to h ! same nature  
or t]ms ,= purposes ( subp>agraph       
7,a77ii71 a security c be sub/antially  
simil> to ano!r security )\t hav+ ! same
 nature or t]ms4  4