#aai? ,,congress  #a/ ,session  ,h4 ,r4 
#cchb  ,,an ,,act  ,to require !        
,securities & ,ex*ange ,commission to   
c>ry out a /udy & rulemak+ on !         
def9ition ( ! t]m small entity "u !     
securities laws = purposes ( *apt] #f ( 
title #e1 ,unit$ ,/ates ,code1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,small ,entity ,update     
,act4  #b4 ,/udies1 reports1 & rules    
reg>d+ small entities  7a7 ,def9itions  
,9 ?is section--  7#a7 ! t]m ,commission
 means ! ,securities & ,ex*ange         
,commission2 &  7#b7 ! t]m small        
entity--  7,a7 has ! mean+ giv5 ! t]m 9 
section #fja ( title #e1 ,unit$ ,/ates  
,code1 ) respect to ! activities ( !    
,commission2 &  7,b7 includes any       
def9ition e/abli%$ by ! ,commission ( ! 
t]m small bus9ess1 small organization1  
small gov]nm5tal jurisdiction1 or small 
entity "u p>agraph 7#c71 7#d71 7#e71 or 
7#f71 respectively1 ( section #fja (    
title #e1 ,unit$ ,/ates ,code1 ) respect
 to ! activities ( ! ,commission4  7b7  

,/udies & reports ,n lat] ?an #a ye>    
aft] ! date ( enactm5t ( ?is ,act1 &    
aga9 #e ye>s !reaft]1 ! ,commission     
%all-- 7#a7 conduct a /udy ( ! def9ition
 ( ! t]m small entity ) respect to !    
activities ( ! ,commission = ! purposes 
( *apt] #f ( title #e1 ,unit$ ,/ates    
,code1 :i* %all consid]--  7,a7 ! ext5t 
to :i* ! def9ition ( ! t]m small entity1
 z 9 effect dur+ ! p]iod 9 :i* ! /udy is
 conduct$1 aligns ) ! f9d+s &           
decl>ations made "u section #b7;a7 ( !  
,regulatory ,flexibility ,act 7#e       
,u4,s4,c4 #fja note72  7,b7 ! am\nt by  
:i* f9ancial m>kets 9 ! ,unit$ ,/ates h 
gr[n s9ce ! la/ "t ! ,commission am5d$ !
 def9ition ( ! t]m small entity1 if     
applicable2 &  7,c7 h[ ! ,commission    
%\ld def9e ! t]m small entity to ensure 
t a mean+ful numb] ( entities w\ld fall 
"u t def9ition2 &  7#b7 submit to       
,congress a report t includes--  7,a7 ! 
results ( ! applicable /udy conduct$ "u 
p>agraph 7#a72 &  7,b7 specific &       
detail$ recomm5dations on ! ways 9 :i* !

 ,commission c\ld am5d ! def9ition ( !  
t]m small entity to--  7i7 be consi/5t )
 ! results describ$ 9 subp>agraph 7,a72 
&  7ii7 exp& ! numb] ( entities cov]$ by
 su* def9ition4  7c7 ,rulemak+          
,concurr5tly )1 or aft] ! completion (1 
ea* /udy requir$ "u subsection 7b71 !   
,commission %all1 subject to public     
notice & comm5t1 revise ! rules ( !     
,commission consi/5t ) ! results ( su*  
/udy4  7d7 ,inflation adju/m5ts ,aft] ! 
,commission issu$ ! f9al rule revisions 
requir$ "u subsection 7c71 & e #e ye>s  
!reaft]1 ! ,commission %all adju/ any   
doll> figures "u ! def9ition ( small    
entity e/abli%$ by ! ,commission to     
reflect ! *ange 9 ! ,consum] ,price     
,index = ,all ,urban ,consum]s publi%$  
by ! ,bureau ( ,labor ,/ati/ics ( !     
,dep>tm5t ( ,labor4  ,pass$ ! ,h\se (   
,repres5tatives ,july #ba1 #bjbe4;,cl]k4