Bill > HR3395

This bill requires the Comptroller General (the head of the Government Accountability Office) to conduct a comprehensive study on the costs associated with initial public offerings (IPOs) for small and medium-sized companies. The study will examine direct and indirect expenses related to going public, including fees for accountants, underwriters, and other advisors, as well as compliance with federal and state securities laws. The Comptroller General will compare IPO costs with alternative financing methods, assess the impact on capital formation and retail investor access to securities, and analyze IPO trends over a specific time period. The study will investigate various aspects such as the number of IPOs, evolving costs for different professionals involved, changes in investment research availability, and the effects of potential litigation on becoming a public company. Within 360 days of the bill's enactment, the Comptroller General must submit a detailed report to Congress that includes findings, determinations, and potential administrative or legislative recommendations. The bill aims to provide a comprehensive understanding of the financial challenges small and medium-sized companies face when considering going public.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3395/all-info