#aaith ,,congress  #ast ,session  ,h4   
,r4 #ccja  ,,an ,,act  ,to amend the    
,securities ,exchange ,act of #aicd to  
specify certain registration statement  
contents for emerging growth companies1 
to permit issuers to file draft         
registration statements with the        
,securities and ,exchange ,commission   
for confidential review1 and for other  
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,encouraging ,local 
,emerging ,ventures and ,economic       
,growth ,act of #bjbe or the ,,elevate  
,act of #bjbe4  #b4 ,registration       
statements ,section #ab7;b7 of the      
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghl7b77 is amended--  7#a7  
in paragraph 7#a77,k71 by striking      
years1 and inserting years 7or1 in the  
case of an emerging growth company1 not 
more than the two preceding years712 and
  7#b7 by adding at the end the         
following3  ,any issuer may             
confidentially submit to the ,commission
 a draft registration statement for     

confidential nonpublic review by the    
staff of the ,commission prior to public
 filing1 provided that the initial      
confidential submission and all         
amendments thereto shall be publicly    
filed with the ,commission not later    
than #aj days before listing on a       
national securities exchange4           
,notwithstanding any other provision of 
this title1 the ,commission shall not be
 compelled to disclose any information  
provided to or obtained by the          
,commission pursuant to this subsection4
 ,for purposes of section #eeb of title 
#e1 this subsection shall be considered 
a statute described in subsection       
7b77#c77;,b7 of such section #eeb4      
,information described in or obtained   
pursuant to this subsection shall be    
deemed to constitute confidential       
information for purposes of section #bd4
 4  ,passed the ,house of               
,representatives ,june #bc1             
#bjbe4;,clerk4