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H.R. 3623 113th Congress House

Improving Access to Capital for Emerging Growth Companies Act

Official title: To amend certain provisions of the securities laws relating to the treatment of emerging growth companies.

Introduced: November 22, 2013 See on congress.gov
Finance and Financial Sector Business investment and capitalBusiness recordsCorporate finance and managementFinancial services and investments
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 14, 2014
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Mar 14, 2014
Committee Consideration and Mark-up Session Held.
Nov 22, 2013
Referred to the House Committee on Financial Services.
Nov 22, 2013
Sponsor introductory remarks on measure. (CR E1756)
Nov 22, 2013
Introduced in House
Oct 23, 2013
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.
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 Latest action March 14, 2014

Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.

 Plain-English summary Congressional Research Service

Improving Access to Capital for Emerging Growth Companies Act - Amends the Securities Act of 1933 (Act) to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by Securities and Exchange Commission (SEC) staff.

(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)

Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one.

Authorizes an EGC, within one year of its IPO, to submit confidentially to the SEC a draft registration statement for any securities to be issued subsequent to its IPO (follow-on offerings) for confidential nonpublic review by SEC staff before publicly filing a registration statement, if the initial confidential submission, including amendments, is publicly filed with the SEC within two days before it issues those follow-on offerings.

Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 3623: Improving Access to Capital for Emerging Growth Companies Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-3623/
MLA
"H.R. 3623: Improving Access to Capital for Emerging Growth Companies Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-3623/.
Bluebook (legal)
H.R. 3623, 113th Cong. (2026), https://openamerica.io/bill/113-HR-3623/.
Markdown link
[H.R. 3623: Improving Access to Capital for Emerging Growth Companies Act](https://openamerica.io/bill/113-HR-3623/)
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