Skip to content
PoliticalRepoPoliticalRepo

United States · Law · HR

H.R. 3606 (112th)

Jumpstart Our Business Startups

enactedUnited States· United States Congress· EN

Introduced

8 December 2011

Last action

5 April 2012 · Became law

Status

Became Public Law No: 112-106.

Sponsors

Rep. Fincher, Stephen Lee [R-TN-8], Rep. Carney, John C., Jr. [D-DE-At Large], Rep. Bachus, Spencer [R-AL-6], Rep. Crowley, Joseph [D-NY-14], Rep. Garrett, Scott [R-NJ-5], Rep. McHenry, Patrick T. [R-NC-10], Rep. Schweikert, David [R-AZ-1], Rep. Westmoreland, Lynn A. [R-GA-3], Rep. Garamendi, John [D-CA-8], James Renacci, Rep. Huizenga, Bill [R-MI-4], Rep. Kind, Ron [D-WI-3], Sen. Blackburn, Marsha [R-TN], Rep. DesJarlais, Scott [R-TN-4], Rep. Tipton, Scott R. [R-CO-3], Rep. Polis, Jared [D-CO-2], Rep. Crawford, Eric A. "Rick" [R-AR-1], Rep. Griffin, Tim [R-AR-2], Rep. Scott, Austin [R-GA-8], Rep. Perlmutter, Ed [D-CO-7], Rep. Himes, James A. [D-CT-4], Rep. McCarthy, Carolyn [D-NY-4], Rep. Connolly, Gerald E. [D-VA-11], Sen. Peters, Gary C. [D-MI], Rep. Grimm, Michael G. [R-NY-11], Sen. Capito, Shelley Moore [R-WV], Rep. Hensarling, Jeb [R-TX-5], Rep. Eshoo, Anna G. [D-CA-18], Rep. Dold, Robert J. [R-IL-10], Rep. Hayworth, Nan A. S. [R-NY-19], Rep. Royce, Edward R. [R-CA-39], Rep. Moore, Gwen [D-WI-4], Rep. Neugebauer, Randy [R-TX-19], Rep. Owens, William L. [D-NY-23], Rep. Meehan, Patrick [R-PA-7], Rep. Johnson, Sam [R-TX-3], Rep. Sessions, Pete [R-TX-17], Rep. King, Peter T. [R-NY-2], Sen. Welch, Peter [D-VT], Rep. Smith, Adam [D-WA-9], Rep. Sewell, Terri A. [D-AL-7], Rep. Hurt, Robert [R-VA-5], Rep. Womack, Steve [R-AR-3], Rep. Ross, Mike [D-AR-4], Sen. Scott, Tim [R-SC], Rep. Schock, Aaron [R-IL-18], Rep. Carnahan, Russ [D-MO-3], Rep. Luetkemeyer, Blaine [R-MO-3]

Subjects

Taxation

Source updated

5 December 2025

Taxation

Summary

Reopening American Capital Markets to Emerging Growth Companies Act of 2011 - Amends the Securities Act of 1933 (SA) and the Securities Exchange Act of 1934 (SEA) to define "emerging growth company" as an issuer that had total annual gross revenues of less than $1 billion during its most recently completed fiscal year. Amends SEA and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to exempt emerging growth companies from the requirement for separate shareholder approval of executive compensation, including golden parachute compensation. Amends SA to state that an emerging growth company need not present more than two years of audited financial statements in order for its registration statement, with respect to an initial public offering of its common equity securities, to be effective. Amends both SA and SEA to state that, in any other registration statement to be filed with the Securities and Exchange Commission (SEC), an emerging growth company need not present financial data for any period before the earliest audited period presented in connection with its initial public offering. Authorizes the SEC to recognize, as generally accepted accounting principles, those established by a standard setting body that, in addition to other criteria, has not established any accounting principles that would require an emerging growth company to comply with any new or revised financial accounting standard as of an effective date earlier than the one applying to a company that is not an issuer. Amends the the Sarbanes-Oxley Act of 2002 to exempt a registered public accounting firm that prepares or issues a report on its audit of an emerging growth company from the requirement that it attest to, and report on, any assessment of internal controls the company's management has made. Modifies the application to emerging growth companies of any auditing or other professional standards the Public Company Accounting Oversight Board may establish that were proposed by one or more professional groups of accountants. Exempts an emerging growth company from any such rules requiring mandatory audit firm rotation or a supplement to the auditor's report in which the auditor would be required to provide additional information about the audit and the issuer's financial statements (auditor discussion and analysis). Applies this exemption also with respect to any additional rules adopted by the Board after enactment of this Act, unless the SEC decides otherwise and determines that their application to emerging growth companies is necessary or appropriate in the public interest, after considering the protection of investors and whether the action will promote efficiency, competition, and capital formation. Amends SA to deem not to constitute an offer for sale or offer to sell a security, for the purposes of prospectus and specified registration requirements, a broker's or dealer's publication or distribution of a written, electronic, or oral research report about an emerging growth company that is the subject of a proposed public offering of its common equity securities pursuant to a registration statement the issuer proposes to file, or has filed, or that is effective, even if the broker or dealer is participating or will participate in the registered offering of the issuer's securities. Prohibits the SEC and any registered national securities association from adopting or maintaining any conflict-of-interest rule or regulation in connection with an initial public offering of the common equity of an emerging growth company that restricts: (1) which associated persons (based on functional role) of a broker, dealer, or member of a national securities association may arrange for communications between a securities analyst and a potential investor; or (2) a securities analyst from participating in any communications with the management of an emerging growth company that is also attended by any other associated person of a broker, dealer, or member of a national securities association whose functional role is other than as a securities analyst. Authorizes an emerging growth company, or any person authorized to act on behalf of one, to engage in oral or written communications with potential investors that are qualified institutional buyers or institutions that are accredited investors to determine whether such investors might have an interest in a contemplated securities offering, either before or after the filing of a registration statement with the SEC. Prohibits the SEC and any registered national securities association from adopting or maintaining any rule or regulation prohibiting any broker, dealer, or member of a national securities association from publishing or distributing any research report, or making a public appearance, with respect to the securities of an emerging growth company. Amends SA to authorize an emerging growth company, before its initial public offering date, to submit to the SEC a draft registration statement for confidential nonpublic review by SEC staff before the public filing, provided that the initial confidential submission and all amendments to it are publicly filed with the SEC within 21 days before the issuer conducts a "road show." Declares that the SEC, however, shall not be compelled to disclose such information. (A "road show" is an offer that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of the issuer, its management, and/or the securities being offered.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 8 December 2011

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 8 December 2011

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 8 December 2011

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  4. 8 December 2011

    Introduced

    Sponsor introductory remarks on measure. (CR E2210-2211)

    Source: IntroReferral

  5. 15 December 2011

    Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Source: Committee

  6. 12 January 2012

    Referred

    Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

    Source: Committee

  7. 15 February 2012

    Committee

    Subcommittee on Capital Markets and Government Sponsored Enterprises Discharged.

    Source: Committee

  8. 16 February 2012

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 54 - 1.

    Source: Committee

  9. 16 February 2012

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  10. 1 March 2012

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 112-406.

    Source: Committee

  11. 1 March 2012

    Calendars

    Placed on the Union Calendar, Calendar No. 281.

    Source: Calendars

  12. 1 March 2012

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 112-406.

    Source: Committee

  13. 6 March 2012

    Reported

    Rules Committee Resolution H. Res. 572 Reported to House. Rule provides for consideration of H.R. 3606 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. The resolution provides that an amendment in the nature of a substitute consisting of text of Rules Committee Print 112-17 shall be considered as adopted. The resolution waives all points of order against the amendments printed in the report.

    Source: Floor

  14. 6 March 2012

    Committee

    Supplemental report filed by the Committee on Financial Services, H. Rept. 112-406, Part II.

    Source: Committee

  15. 6 March 2012

    Committee

    Supplemental report filed by the Committee on Financial Services, H. Rept. 112-406, Part II.

    Source: Committee

  16. 6 March 2012

    Committee

    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-482.

    Source: Committee

  17. 7 March 2012

    Floor

    Considered under the provisions of rule H. Res. 572. (consideration: CR H1236)

    Source: Floor

  18. 7 March 2012

    Passed

    Rule H. Res. 572 passed House.

    Source: Floor

  19. 7 March 2012

    Passed

    On motion that the Committee rise Agreed to by voice vote.

    Source: Floor

  20. 7 March 2012

    Floor

    Mr. Hensarling moved that the Committee rise.

    Source: Floor

  21. 7 March 2012

    Floor

    The House resolved into Committee of the Whole House on the state of the Union for further consideration.

    Source: Floor

  22. 7 March 2012

    Floor

    Rule provides for consideration of H.R. 3606 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. The resolution provides that an amendment in the nature of a substitute consisting of text of Rules Committee Print 112-17 shall be considered as adopted. The resolution waives all points of order against the amendments printed in the report.

    Source: Floor

  23. 7 March 2012

    Floor

    Committee of the Whole House on the state of the Union rises leaving H.R. 3606 as unfinished business.

    Source: Floor

  24. 7 March 2012

    Floor

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 572 and Rule XVIII.

    Source: Floor

  25. 7 March 2012

    Floor

    The Speaker designated the Honorable Robert J. Dold to act as Chairman of the Committee.

    Source: Floor

  26. 8 March 2012

    Introduced

    Received in the Senate.

    Source: IntroReferral

  27. 8 March 2012

    Floor

    The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 3606.

    Source: Floor

  28. 8 March 2012

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  29. 8 March 2012

    Vote

    On passage Passed by recorded vote: 390 - 23 (Roll no. 110).

    Source: Floor

  30. 8 March 2012

    Vote

    Passed/agreed to in House: On passage Passed by recorded vote: 390 - 23 (Roll no. 110).

    Source: Floor

  31. 8 March 2012

    Vote

    On motion to recommit with instructions Failed by recorded vote: 170 - 244 (Roll no. 109). (consideration: CR H1288)

    Source: Floor

  32. 8 March 2012

    Floor

    The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H1288)

    Source: Floor

  33. 8 March 2012

    Floor

    Ms. Eshoo moved to recommit with instructions to Financial Services. (consideration: CR H1287-1288; text: CR H1287)

    Source: Floor

  34. 8 March 2012

    Passed

    The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text of amendment in the nature of a substitute: CR 3/7/2012 H1245-1249)

    Source: Floor

  35. 8 March 2012

    Floor

    The previous question was ordered pursuant to the rule. (consideration: CR H1287)

    Source: Floor

  36. 8 March 2012

    Floor

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3606.

    Source: Floor

  37. 8 March 2012

    Floor

    Committee of the Whole House on the state of the Union rises leaving H.R. 3606 as unfinished business.

    Source: Floor

  38. 8 March 2012

    Passed

    On motion that the committee rise Agreed to by voice vote.

    Source: Floor

  39. 8 March 2012

    Floor

    Mr. Hensarling moved that the committee rise.

    Source: Floor

  40. 8 March 2012

    Floor

    DEBATE - Pursuant to the provisions of H. Res. 572, the Committee of the Whole proceeded with 10 minutes of debate on the McHenry amendment No. 11.

    Source: Floor

  41. 8 March 2012

    Floor

    The House resolved into Committee of the Whole House on the state of the Union for further consideration.

    Source: Floor

  42. 8 March 2012

    Floor

    Considered as unfinished business. (consideration: CR H1277-1285)

    Source: Floor

  43. 12 March 2012

    Calendars

    Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

    Source: Calendars

  44. 13 March 2012

    Calendars

    Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 334.

    Source: Calendars

  45. 15 March 2012

    Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S1693-1696, S1714, S1714-1729)

    Source: Floor

  46. 19 March 2012

    Floor

    Considered by Senate. (consideration: CR S1776-1784)

    Source: Floor

  47. 20 March 2012

    Floor

    Considered by Senate. (consideration: CR S1824-1831, S1840-1842)

    Source: Floor

  48. 21 March 2012

    Floor

    Considered by Senate. (consideration: CR S1884-1919)

    Source: Floor

  49. 22 March 2012

    Floor

    Considered by Senate. (consideration: CR S1963-1977)

    Source: Floor

  50. 22 March 2012

    Vote

    Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 73 - 26. Record Vote Number: 55.

    Source: Floor

  51. 27 March 2012

    Floor

    Presented to President.

    Source: Floor

  52. 27 March 2012

    President

    Presented to President.

    Source: President

  53. 27 March 2012

    Vote

    On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 380 - 41 (Roll no. 132). (text as House agreed to Senate amendment: CR H1586-1588)

    Source: ResolvingDifferences

  54. 27 March 2012

    Vote

    Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 380 - 41 (Roll no. 132).(text as House agreed to Senate amendment: CR H1586-1588)

    Source: NotUsed

  55. 27 March 2012

    Vote

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the chair announced that further proceedings on the motion would be postponed.

    Source: ResolvingDifferences

  56. 27 March 2012

    Floor

    DEBATE - The House proceeded with forty minutes of debate on the Senate amendment to H.R. 3606.

    Source: Floor

  57. 27 March 2012

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: ResolvingDifferences

  58. 27 March 2012

    ResolvingDifferences

    Mr. Bachus moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H1586-1593, H1597-1598)

    Source: ResolvingDifferences

  59. 27 March 2012

    Floor

    Message on Senate action sent to the House.

    Source: Floor

  60. 5 April 2012

    President

    Signed by President.

    Source: President

  61. 5 April 2012

    Became law

    Became Public Law No: 112-106.

    Source: President

  62. 5 April 2012

    Became law

    Signed by President.

    Source: BecameLaw

Votes

22 March 2012 · Bill Passed · On Passage of the Bill H.R. 3606 · Bill Passed · Official source

Yes 73 · No 26 · Abstain — · Absent/not voting 1

Showing the first 4 recorded positions. Vote totals above are complete.

Versions

Documents

17 official files

Enrolled Bill (text)

View fileDownload file

This file cannot be previewed here. Use View or Download.

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Enrolled Bill (text)

    Enrolled Bill · EN

    ViewDownloadOpen at official source

  • Enrolled Bill (PDF)

    Enrolled Bill · EN

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Public Law (text)

    Public Law · EN · 5 April 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Public Law (PDF)

    Public Law · EN · 5 April 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Public Law

    summary · EN · 5 April 2012

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed Amendment Senate (text)

    Engrossed Amendment Senate · EN · 22 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed Amendment Senate (PDF)

    Engrossed Amendment Senate · EN · 22 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Placed on Calendar Senate (text)

    Placed on Calendar Senate · EN · 13 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Placed on Calendar Senate (PDF)

    Placed on Calendar Senate · EN · 13 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed in House (text)

    Engrossed in House · EN · 8 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Engrossed in House (PDF)

    Engrossed in House · EN · 8 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Reported in House (text)

    Reported in House · EN · 1 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Reported in House (PDF)

    Reported in House · EN · 1 March 2012

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Reported to House with amendment(s)

    summary · EN · 1 March 2012

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House (text)

    Introduced in House · EN · 8 December 2011

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House (PDF)

    Introduced in House · EN · 8 December 2011

    ViewDownloadOpen at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House

    summary · EN · 8 December 2011

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Showing 48 of 56 sponsors and actors.

Related records

Showing 9 of 127 related records.

Related across the Repo ecosystem

Direct relationships are identifier-backed. Topic context means shared TopicMembership — not a citation and not causation.

Direct relationships

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.