Introduced in House Passed House Introduced in Senate Passed Senate To President Became Law
02/11/2020          

ACCESS Rural America Act

Date Version PDF TXT
02/11/2020 Introduced in House Open

            I 

116TH CONGRESS 
2D SESSION H. R. 5844 

To amend the Securities Exchange Act of 1934 to revise the shareholder 
threshold for registration under that Act for issuers that receive support 
through certain Federal universal service support mechanisms, and for 
other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 11, 2020 
Mr. RIGGLEMAN introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 
To amend the Securities Exchange Act of 1934 to revise 

the shareholder threshold for registration under that Act 
for issuers that receive support through certain Federal 
universal service support mechanisms, and for other pur-
poses. 

Be it enacted by the Senate and House of Representa-1

tives of the United States of America in Congress assembled, 2

SECTION 1. SHORT TITLE. 3

This Act may be cited as the ‘‘Access to Capital Cre-4

ates Economic Strength and Supports Rural America 5

Act’’ or the ‘‘ACCESS Rural America Act’’. 6

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2 

•HR 5844 IH

SEC. 2. SHAREHOLDER THRESHOLD FOR REGISTRATION 1

OF CERTAIN ISSUERS. 2

Section 12(g) of the Securities Exchange Act of 1934 3

(15 U.S.C. 78l(g)) is amended— 4

(1) in paragraph (1)— 5

(A) in subparagraph (A)(ii), by striking 6

‘‘and’’ at the end; 7

(B) in subparagraph (B), by adding ‘‘and’’ 8

at the end; 9

(C) by inserting after subparagraph (B) 10

the following: 11

‘‘(C) in the case of an issuer that, during its 12

previous fiscal year, received support, directly or 13

through an affiliate, through any Federal universal 14

service support mechanism established under section 15

254 of the Communications Act of 1934 (47 U.S.C. 16

254) and filed the report described in paragraph (7) 17

with respect to such fiscal year, not later than 120 18

days after the last day of its first fiscal year ended 19

after the date of enactment of this subparagraph, on 20

which the issuer has total assets exceeding 21

$10,000,000 and a class of equity security (other 22

than an exempted security) held of record by ei-23

ther— 24

‘‘(i) 2,000 persons, or 25

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3 

•HR 5844 IH

‘‘(ii) 1,250 persons who are not accredited 1

investors,’’; and 2

(D) in the flush text following subpara-3

graph (C), as added by subparagraph (C) of 4

this paragraph, by adding at the end the fol-5

lowing: ‘‘The dollar figures in subparagraph (C) 6

shall be indexed for inflation every 5 years by 7

the Commission to reflect the change in the 8

Consumer Price Index for All Urban Con-9

sumers published by the Bureau of Labor Sta-10

tistics, rounded to the nearest $100,000.’’; and 11

(2) by adding at the end the following: 12

‘‘(7) REPORT BY UNIVERSAL SERVICE SUPPORT 13

MECHANISM RECIPIENTS.— 14

‘‘(A) IN GENERAL.—The Commission shall 15

issue regulations to establish a financial summary 16

form that may be filed by an issuer that— 17

‘‘(i) during its previous fiscal year, received 18

support, directly or through an affiliate, 19

through any Federal universal service support 20

mechanism established under section 254 of the 21

Communications Act of 1934 (47 U.S.C. 254); 22

and 23

‘‘(ii) has a class of equity security held of 24

record by 500 or more persons who are not ac-25

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4 

•HR 5844 IH

credited investors, but fewer than 1,250 persons 1

who are not accredited investors. 2

‘‘(B) CONTENTS.—The form described in sub-3

paragraph (A) shall include a summary of the con-4

solidated balance sheet and the consolidated income 5

statement of the issuer and such other information 6

as the Commission determines is necessary and ap-7

propriate in the public interest and for the protec-8

tion of investors.’’. 9

Æ 

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Picture Name From Date Type
Denver Riggleman R-VA 02/11/2020 Sponsor
Date Branch Action
02/11/2020 President Referred to the House Committee on Financial Services.Action By: House of Representatives
02/11/2020 President Introduced in HouseAction By: House of Representatives
Summary
There is one summary for H.R.5844. View summaries Shown Here:Introduced in House (02/11/2020) Access to Capital Creates Economic Strength and Supports Rural America Act or the ACCESS Rural America Act This bill increases&nbsp;the shareholder registration threshold for issuers receiving support through federal universal service support mechanisms, which provide communication services to underserved areas.
Shown Here:Introduced in House (02/11/2020) Access to Capital Creates Economic Strength and Supports Rural America Act or the ACCESS Rural America Act This bill increases&nbsp;the shareholder registration threshold for issuers receiving support through federal universal service support mechanisms, which provide communication services to underserved areas.
Congress - Bill Number Major Title
Branch Vote Date Yes No Not Voting
Wiki







Bill TEXT Points.
This Bill has been listed with the following Subjects from Texts:
Capital
116 HR 5844 IH: Access to Capital Creates Economic Strength and Supports Rural America Act U

Communications
78l(g)) is amended—(1)in paragraph (1)—(A)in subparagraph (A)(ii), by striking and at the end;(B)in subparagraph (B), by adding and at the end;(C)by inserting after subparagraph (B) the following:(C)in the case of an issuer that, during its previous fiscal year, received support, directly or through an affiliate, through any Federal universal service support mechanism established under section 254 of the Communications Act of 1934 (47 U

Congress


House of Representatives
House of Representatives 2020-02-11 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain


End Bill TEXT Points.
Date Bill Major Title
Committee Name
Subject Type