H. Rept. 115-1077 1 (2018-12-12)

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                    115TH CONGRESS                                         REPORT
                       2d Session     HOUSE   OF REPRESENTATIVES          115-1077







                       ACCESS TO CAPITAL CREATES ECONOMIC STRENGTH
                                AND   SUPPORTS RURAL AMERICA ACT



                    DECEMBER 12, 2018.-Committed to the Committee of the Whole House on the State
                                      of the Union and ordered to be printed



                        Mr. HENSARLING,  from  the Committee  on Financial Services,
                                          submitted  the following


                                             REPORT

                                               together with

                                            MINORITY VIEWS

                                            [To accompany H.R. 6745]

                              [Including cost estimate of the Congressional Budget Office]

                      The  Committee  on  Financial Services, to whom  was referred the
                    bill (H.R. 6745) to amend  the Securities Exchange   Act of 1934 to
                    revise the shareholder threshold for registration under such Act for
                    issuers that receive support through certain Federal universal serv-
                    ice support mechanisms,  and  for other purposes, having considered
                    the same,  report favorably thereon  with  an amendment and rec-
                    ommend   that the bill as amended do pass.
                      The  amendment   is as follows:
                      Strike all after the enacting clause and insert the following:

                    SECTION 1. SHORT TITLE.
                      This Act may be cited as the Access to Capital Creates Economic Strength and
                    Supports Rural America Act or the ACCESS Rural America Act.
                    SEC. 2. SHAREHOLDER THRESHOLD FOR REGISTRATION OF CERTAIN ISSUERS.
                      Section 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 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 sup-
                       port, directly or through an affiliate, through any Federal universal service sup-
                       port mechanism established under section 254 of the Communications Act of
                       1934 and filed the report described under paragraph (7) with respect to such
                       89-006

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