,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #dacj  ,,in ,,the ,,house ,,of  
,,representatives  ,june #be1 #bjbe,mr4 
,garbarino introduced the following     
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to amend the ,securities       
,exchange ,act of #aicd to exclude      
qualified institutional buyers and      
institutional accredited investors when 
calculating holders of a security for   
purposes of the mandatory registration  
threshold under such ,act1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,small ,business    
,relief ,act4  #b4 ,exclusions from     
mandatory registration threshold  7a7   
,in general ,section #ab7;g77#a7 of the 
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghl7g77#a77 is amended--    
7#a7 in paragraph 7,a77i71 by inserting 
after persons the following3 7that are  
not a qualified institutional buyer or  
an institutional accredited investor72  
and  7#b7 in paragraph 7,b71 by         

inserting after persons the following3  
7that are not a qualified institutional 
buyer or an institutional accredited    
investor74  7b7 ,nonapplicability of    
general exemptive authority ,section #cf
 of the ,securities ,exchange ,act of   
#aicd 7#ae ,u4,s4,c4 #ghmm7 shall not   
apply to the matter inserted by the     
amendments made by subsection 7a74