summary
Introduced
02/15/2018
02/15/2018
In Committee
06/07/2018
06/07/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Small Company Disclosure Simplification Act of 2018 This bill exempts from requirements to use Extensible Business Reporting Language (XBRL) for Securities and Exchange Commission (SEC) filings: (1) emerging growth companies (in general, newly public companies with revenues below a specified threshold); and (2) on a temporary basis, certain other smaller companies. The SEC must conduct an analysis of the costs and benefits of XBRL requirements with respect to such companies. The SEC must report to Congress on the results of its analysis and other specified issues related to XBRL usage.
AI Summary
This bill exempts emerging growth companies (newly public companies with revenues below a specified threshold) and other smaller companies (with total annual gross revenues less than $250 million) from the requirement to use Extensible Business Reporting Language (XBRL) for financial statements and other periodic reporting filed with the Securities and Exchange Commission (SEC). The bill requires the SEC to conduct an analysis of the costs and benefits of XBRL requirements for these companies and report to Congress on the results of the analysis and other issues related to XBRL usage.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Placed on the Union Calendar, Calendar No. 846. (on 12/21/2018)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...