,,ii  #aaith ,,congress  #ast ,session  
,s4 #cbaf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,november #ai1 
#bjbe,mr4 ,kennedy introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to amend the ,federal          
securities laws to specify the periods  
for which financial statements are      
required to be provided by an emerging  
growth company1 and for other purposes4 
#a4 ,short title ,this ,act may be cited
 as the ,greenlighting ,growth ,act4    
#b4 ,financial statement reporting      
requirements for emerging growth        
companies  7a7 ,securities ,act of #aicc
 ,section #g7;a77#b7 of the ,securities 
,act of #aicc 7#ae ,u4,s4,c4            
#gg;g7a77#b77 is amended-- 7#a7 in      
subparagraph 7,a71 by striking and at   
the end2  7#b7 by redesignating         
subparagraph 7,b7 as subparagraph 7,c72 
and  7#c7 by inserting after            
subparagraph 7,a7 the following3  7,b7  

need not present acquired company       
financial statements or information     
otherwise required under section        
#baj4c-je or #baj4h-jd of title #ag1    
,code of ,federal ,regulations1 or any  
successor regulation1 for any period    
prior to the earliest audited period of 
the emerging growth company presented in
 connection with its initial public     
offering and1 thereafter1 in no event   
shall an issuer that was an emerging    
growth company but is no longer an      
emerging growth company be required to  
present financial statements of the     
issuer 7or acquired company financial   
statements or information otherwise     
required under section #baj4c-je or     
#baj4h-jd of title #ag1 ,code of        
,federal ,regulations1 or any successor 
regulation7 for any period prior to the 
earliest audited period of the emerging 
growth company presented in connection  
with its initial public offering2 and  4
  7b7 ,securities ,exchange ,act of     
#aicd ,section #ab7;b77#a77,k7 of the   

,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #ghl7b77#a77,k77 is amended  
by striking firm2 and inserting firm1   
provided that the application of an     
emerging growth company need not present
 acquired company financial statements  
or information otherwise required under 
section #baj4c-je or #baj4h-jd of title 
#ag1 ,code of ,federal ,regulations1 or 
any successor regulation1 for any period
 prior to the earliest audited period of
 the emerging growth company presented  
in connection with its application and1 
thereafter1 in no event shall an issuer 
that was an emerging growth company but 
is no longer an emerging growth company 
be required to present financial        
statements of the issuer 7or acquired   
company financial statements or         
information otherwise required under    
section #baj4c-je or #baj4h-jd of title 
#ag1 ,code of ,federal ,regulations1 or 
any successor regulation7 for any period
 prior to the earliest audited period of
 the emerging growth company presented  

in connection with any application under
 this subsection24